Ghana’s economic recovery started in 2024 after the Covid-19 pandemic, with the country strengthening its external sector position with trade surplus rising sharply to $4.98 billion, representing 5.90% of GDP from $2.69 billion recorded in 2023.
This rise was driven by a 21.1% increase in total exports, particularly gold, which surged by 53.2% to $11.64 billion.
Mr. Isaac Kwesi Ewer, Chief Analyst at the Monitoring and Evaluation Division of the National Development Planning Commission (NDPC), announced the recovery during the review of the 2024 National Annual Progress Report (APR) of the NDPC, in Accra.
He said oil exports rose marginally to $3.87 billion while imports increased to $15.24 billion, up 8.80% from 2023.
However, Mr. Kwesi Eweh noted that structural vulnerabilities remain, particularly the country’s over reliance on a narrow commodity base.
Dr. Nii Moi Thompson, the Chairman of the NDPC and Presidential Advisor on Sustainable Development Goals (SDGs), who unveiled the report, described the APR as the most reliable and comprehensive source of data for assessing government performance.
He urged journalists to prioritise it over political manifestos.
Dr. Thompson further emphasised the Commission’s pivotal role in monitoring, evaluating, and coordinating government development policies and programmes.
He called on the media to help translate evidence into advocacy, correct misinformation and mobilise support for priority actions, reinforcing NDPC’s commitment to inclusive and impactful national development.
The report is to assess the implementation of the national medium-term development policy framework at all levels.
The 2024 APR is the third edition under the Agenda for Jobs II: Creating Prosperity and Equal Opportunities for All for the period 2022 to 2025.
The overall goal was to create an optimistic, self-confident, and prosperous nation through the creative exploitation of human and natural resources within a democratic society.
Dr Audrey Smock Amoah, the Director-General of NDPC, in her remarks, said the report provided a comprehensive account of the country’s advancement across six dimensions of development including economic, social, environment, infrastructure and human settlements, governance, corruption and public accountability.
She said the report also captured emergency planning and Covid-19 responses; implementation and coordination.
The report would be published on the Commission’s website and made available to the Office of the President, Parliament of Ghana, Ministries, Departments and Agencies, as well as the Regional Coordinating Councils and Metropolitan, Municipal and District Assemblies.
