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Excluding Encumbered Assets and Petroleum Fund, Ghana’s Gross International Reserves (GIR) increased little to $2.46 billion in October 2023, or about 1.1 months’ worth of import cover.
From September 2023 (1.0 month of import cover) of $2.267 billion and August 2023 (1.0 month of import cover) of $2.016 billion, there has been an increase.
From $1.406 billion (0.7 months of import cover) in April 2023 to $2.239 billion (1.0 month of import cover) in July 2023, according to data from the Bank of Ghana, there was a steady increase.
On top of that, in October 2023, Ghana reported a $2.058 billion trade surplus, or almost 2.7% of GDP.
The total value of exports was $13.453 billion, with major contributions coming from cocoa, crude oil, and gold.
Source: Ghanatodayonline.com
