Ghana’s dependence on Chinese goods reached unprecedented levels in 2024, with imports surging to GH₵56.8 billion—a staggering 67.6% increase from the previous year—solidifying China’s position as the nation’s dominant trading partner.
The spike, revealed in latest trade data, underscores Ghana’s growing reliance on Chinese industrial materials, machinery, and consumer products, even as critics warn of risks to local manufacturing and trade imbalances.
Iron and steel imports, critical for Ghana’s construction and infrastructure sectors, accounted for 65% of total purchases from China, reflecting ongoing demand fueled by public and private projects. Machinery and electrical equipment followed at 44%, alongside plastics (33%), chemicals (27%), and vehicles (26%), painting a picture of an economy tethered to Chinese supply chains for both heavy industry and everyday goods.
The shift comes amid a reshuffle in Ghana’s top import partners. The United Arab Emirates (UAE) and United Kingdom (UK) climbed into the top five, with GH₵21.9 billion and GH₵19 billion in imports respectively, largely driven by mineral fuels and oils. This replaced the Netherlands and Russia, whose trade volumes dwindled amid global market shifts and sanctions.
While the surge highlights China’s competitive pricing and production capacity, economists caution that over-reliance could stifle Ghana’s industrial growth. “Cheap imports fill gaps but risk suffocating local industries unable to compete,” said Accra-based financial Journalist Roger A. Agana. “Without policies to boost domestic production, we’re trading short-term gains for long-term dependency.”
The data also raises concerns over Ghana’s widening trade deficit, as exports to China—primarily cocoa, minerals, and crude oil—lag far behind imports. This imbalance strains foreign reserves and underscores the need for diversified trade strategies.
Yet the partnership isn’t one-dimensional. Chinese investments in Ghanaian infrastructure, including roads and digital networks, have bolstered economic ties, even as debates over debt sustainability persist. For now, the figures signal a pivotal moment: Ghana’s economic landscape is increasingly shaped by Beijing’s factories—a trend with no signs of slowing.
