Ghana Gold Export Report 2018 – Ghana is Top Gold Exporter in Africa

18 January 2020
Ghana Gold Export Data

Ghana is a country in African continent, which ranked 77 in world’s exports in 2018. Ghana’s total exports valued US$ 17 billion in which more than 30% of its sales were of gold. After South Africa, Ghana is the top producer and exporter of gold in Africa. According to Ghana export data, the country shipped gold worth US$ 6,092 million in 2018, up from the previous years. The largest export destination of Ghana’s gold is India, which hold almost 50% of the market. Globally, Ghana is the 11th biggest supplier of gold. Let’s have an overview of Ghana gold market with the latest Ghana export statistics of gold.


Ghana Gold Exports in Last Years


Gold exports from Ghana have been increased in the last three years. From US$ 4,427 million in 2016, export value of gold shipments increased to US$ 6,092 million in 2018. According to Export Genius market research report, Ghana is second largest gold producer and exporter in Africa. In fact, gold contributes 90% of total mining industry of Ghana.  


Year

Value in US$ Million

2016

4,427

2017

5,858

2018

6,092

 


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Ghana’s Top Gold Export Destinations


Almost 50% of total Ghana gold shipments are shipped to India, followed by Switzerland and South Africa. Ghana customs data shows that top 10 Ghana export partners of gold accounted 99.8% overall value to total shipments. Ghana exports of gold to India valued US$ 2,860 million in 2018. And Switzerland purchased gold worth US$ 1,620 million from Ghana.



Country

Value in US$ %

India

46.9

Switzerland

26.6

South Africa

15.0

United Arab Emirates

8.3

Lebanon

1.6

Hong Kong, China

1.0

Turkey

0.2

Pakistan

0.1

United States

0.1

 

Mining Industry of Ghana


The mining industry of Ghana accounts for 5% of the country’s Gross Domestic Product (GDP) and minerals make up 37% of total exports, of which gold contributes more than 90% of the total mineral exports. Thus, gold remains as prime focus of country’s development of mining and mineral industry. Ghana is Africa’s second largest gold producer in the world. It is also a major producer of manganese, diamonds and bauxite. The country’s other mineral commodities produced in the country are petroleum, natural gas, silver and salt.


Where Does Ghana Stand in World’s Gold Exports?


Global sales from gold exports by country totalled US$ 305800 million in 2018. Ghana, which stood at 11th position in world’s gold exports, shipped gold worth US$ 6,092 million. Among continents, European countries sold the most gold exports with shipments amounting to US$ 110200 million or more than 36% of the worldwide total. Asian suppliers generated 29% worth of gold exports, while 12.1% worth was shipped from North America. Other regions – Africa shared 10.1%, Latin America excluding Mexico but including the Caribbean at 7.2% and Oceania at 5.5% to global gold exports in 2018.

Country

Value in US$ %

Switzerland

20.9

Hong Kong, China

12.2

United Kingdom

10.4

United States

6.6

United Arab Emirates

5.1

Australia

4.6

Canada

4.0

Singapore

3.6

Peru

2.3

Japan

2.1

Ghana

2.0

South Africa

1.8

Germany

1.5

Thailand

1.4

Mexico

1.4

 


Ghana is Top Gold Exporter Country in African Continent


According to African countries trade data, Ghana is the largest exporter country of gold in the African continent. The country shipped gold worth US$ 6,092 million in 2018, followed by South Africa with US$ 5,473 million value. Here is a list top 10 African countries of gold exports. 


 

Country

Value in US$ Million

Ghana

6,092

South Africa

5,473

Guinea

2,793

Mali

2,585

Burkina Faso

2,145

Tanzania

1,508

Egypt

1,453

Zimbabwe

1,141

Sudan

1,034

Libya

804

 


Ghana Export Sample of Gold


Are you ready to analyse Ghana’s market of gold for expanding your business? Get information about largest gold export companies in Ghana with their trading partners, destination country and much more. Check Ghana export sample of gold below to know what exactly is covered in our data.


Date

16-07-2018

Exporter Name

Asanko Gold Ghana Limited

Exporter Address

H. NO. 4, Sir Arku Korsah Road, G

Importer Name

Brinks Sa Pty Ltd

HS Code

7108131000

Product Description

Gold Bars

Destination Country

South Africa

Logistic Company

DHL Global Forwarding p. No. 53 Patri

No. of Package

9

Package Type

PK

Gross Weight

201

Net Weight

201

FOB Value (USD)

6141308.07

GOB GHC

27844690.79

 


Ghana has made mandatory to get government certificate for exporting dore gold (semi-pure gold). This certificate can be obtained from state-run Precious Metals and Marketing Corporation (PMMC) for any dore gold exports to the world markets. It is a concern about entry of conflict dore gold into India from Ghana. According to Ghana shipment data of gold, the country exports about 90 tonnes of semi-pure or dore gold to India. 

 

“There had been reports that conflict gold was entering into India from Ghana. That was hurting the image of Indian gold jewellery in the international markets. Now that Ghana has introduced this new rule the trade will become more transparent. Money laundering will also be checked because there will be no under or over invoicing by anybody involved in the gold trade,” said James Jose, secretary, Association of Gold Refineries and Mints.


Conflict gold is mined illegally or by employing child labour or using illicit means of mining. Funds generated by such means are used to support military war or illegal activities. 

 

Gold is one of the largest trading metals in category of precious stones and metals. Ghana is the top exporter country of gold items in African continent. Get all the updates of Ghana gold exports with complete market intelligence information right here.


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