Ghana cocoa exports surge to $3B on processing boom

Non-traditional exports grew ~15-20% from 2023’s $3.01B to provisional 2024 figures around $3.5B; no $1.59B base confirmed. The top ten products drove 65.48% of total non-traditional earnings. Each averaged $242 million in value. Ghana Export Promotion Authority (GEPA) data shows this shift from raw commodities to processed goods. Cocoa processing anchored the gains. Manufactured items made up over 83% of earnings.

Cocoa Processing Powers Export Boom

In 2023, processed cocoa products under GEPA totaled ~$1.2B combined, with paste at ~$450M (20-30% YoY growth); 2025 specifics unavailable. This highlights Ghana’s push into domestic processing over raw bean sales.

Demand from Europe fuelled these jumps. The Netherlands, UK, and France bought the most.

Ghana cocoa earnings for 2023/24 season were ~$2.8B; 2024/25 projected ~$3B amid lower volumes. GEPA called it a historic milestone for value-added exports. 2023: Cashew $152M, shea products ~$180M total. These diversified agri-exports tapped cosmetics and pharma demand.

Diversification Builds Trade Resilience

2023 figures: Plastics $192M, Aluminium $115M, Canned tuna $142M, Iron/steel $248M. Global prices and competition hurt that sector.

Europe dominated markets. However, intra-African trade took 30.36% of earnings. West African demand grew under the Economic Community of West African States. GEPA CEO is Michael Agyekum Addo praised regional competitiveness.

GEPA 2024 report launched May 2025; 2025 report not yet launched as of April 20, 2026. It ties into African Continental Free Trade Area (AfCFTA) goals.

Investors eye steady returns in Ghana’s processing hubs. Cocoa capacity expansions offer scale. Shea and cashew chains provide diversification amid AfCFTA trade flows. These assets build resilience against commodity swings.

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