Ghana’s gross foreign assets hits US$6.4 billion

By: Fred Yaw Sarpong

The economic and financial data from the Bank of Ghana (BoG) shows that Ghana’s Gross Foreign Assets for the month of February, 2017 was US$6,455.3 billion.

This represents increased to an equivalent of 3.7 months of import cover, as compared with 3.3 months in the same period in 2016, which had US$5,531.3 billion of import cover.

Total export was US$2,489.5 billion recorded in February, 2017 compared with US$1,582.0 billion recorded in 2016. Gold export for the period was US$1,176.4 billion in 2017 as against US$532.0 million in 2016.

Meanwhile, cocoa export fetched Ghana US$619.0 million in February, 2017 compared with US$688.5 million realized in February 2016. Ghana’s oil export receipt in February 2017 was US$378.8 million as against US$212.3 million the country had in February, 2016.

The date indicated that the country’s total import declined in February 2017. The figure was US$1,916.5 billion, compared with US$2,156.1 billion Ghana had in February, 2016. Oil import also declined to record US$266.1 million, as against US$273.4 million in the same period of 2016.

The non-oil import declined from US$1,882.7 billion in February 2016 to record US$1,650 billion in February 2017. Ghana’s trade balance for the month of February, 2017 was US$573.0 million, as against US$573.1 million recorded in February, 2016.

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