Bilateral trade between Ghana and China reached a historic high of $11.84 billion in 2024, marking a significant milestone in the long-standing economic partnership between the two nations.
The record trade volume further underscores China’s position as Ghana’s largest trading partner and highlights the expanding scope of economic collaboration across multiple sectors.
Trade between the two countries has witnessed steady growth over the years, driven by Ghana’s exports of raw materials such as gold, cocoa, and oil, alongside China’s supply of machinery, electronics, textiles, and construction materials.
The 2024 trade figures represent a notable increase from previous years, reflecting the strengthening commercial ties fostered through mutual investments and strategic agreements under the Belt and Road Initiative (BRI) and the Forum on China-Africa Cooperation (FOCAC).
China remains the powerhouse for global growth and transition, with GDP reaching almost 135 trillion yuan (approximately 18.5 trillion USD), increasing five per cent and contributing 28 per cent to global growth.
Ghana and China share a relationship built on mutual respect and cooperation, dating back to our diplomatic ties established in 1960.
Historically, Ghana-China trade relations have been characterized by robust engagement in infrastructure, manufacturing, and technology transfer.
Chinese companies have played a crucial role in Ghana’s development, particularly in sectors such as energy, telecommunications, and mining.
With continued efforts to enhance economic cooperation, both nations anticipate further expansion of trade and investment, reinforcing their strategic partnership.
The trade milestone was celebrated at a grand event held at the University of Ghana Sports Stadium in Accra to mark the 2025 Chinese Lantern Festival.
The Lantern Festival
As a symbol of unity and cooperation, the Lantern festival gala brought together key dignitaries including President John Dramani Mahama, Mr Tong Defa, Chinese Ambassador to Ghana, Mr Samuel Okudzetu Ablakwa, Minister of Foreign Affairs, senior government officials and business leaders from both Ghana and China, and the Chinese Community in Ghana.
The annual gathering, a climax of the Chinese New Year, among others, provided a platform to reaffirm commitments to deepening economic ties and exploring new areas of collaboration between the two countries.
The night was alive with colour, rhythm, and energy as the University of Ghana Sports Stadium transformed into a dazzling stage for Chinese cultural performances in celebration of the Lantern Festival.
The air vibrated with the sounds of traditional Chinese instruments – sharp, piercing notes from the erhu (a two-stringed bowed instrument) mingled with the deep, resonant beats of the Chinese war drum, setting an electrifying tone for the evening.
As the performances reached their crescendo, the atmosphere became even more charged when the audience joined in lighting the lanterns – a moment of unity and symbolism.
Thousands of lanterns, in hues of red, gold, and blue, floated upwards, painting the night sky with a celestial glow.
he flickering lights mirrored the excitement of the crowd, who clapped and cheered, their faces illuminated with wonder and joy.
Chinese Ambassador reaffirms commitment
Mr Tong Defa, Chinese Ambassador to Ghana, underscored the significance of the 65th anniversary of Ghana-China diplomatic relations, highlighting the enduring friendship and mutual trust between the two nations.
He attributed the record trade figures to years of consistent cooperation and China’s commitment to supporting Ghana’s development.
“China has been Ghana’s largest trading partner and a major investor for many years. Last year, our bilateral trade reached an all-time high of $11.84 billion, demonstrating the strength of our economic cooperation,” Ambassador Tang said.
He outlined China’s contributions to Ghana’s development, citing numerous infrastructure projects, including roads, bridges, hospitals, and educational facilities, funded through Chinese partnerships.
Ambassador Tong reaffirmed China’s commitment to supporting Ghana’s industrialization agenda and agricultural modernization.
“As we celebrate 65 years of diplomatic ties, we look forward to enhancing our collaboration in infrastructure, technology, and people-to-people exchanges. Our friendship is built on shared aspirations for economic prosperity and social development,” he added.
The Ambassador noted that 2026 had was designated as the China-Africa Year of People-to-People Exchanges, an initiative that will further strengthen cultural ties between Ghana and China.
He emphasized the need for continued engagement in trade, investment, and innovation to create new growth opportunities.
President Mahama calls for increased Chinese investment
President John Dramani Mahama, in his keynote address, commended the strong and evolving Ghana-China partnership, emphasizing its impact on Ghana’s economic growth.
He acknowledged China’s role as a vital development partner that has contributed significantly to infrastructure, trade, and technological advancement in Ghana.
“Over the years, Ghana and China have witnessed remarkable progress in trade and investment, benefiting both our economies,” President Mahama stated.
He highlighted key areas where Chinese investments have made a difference, including energy, education, and agriculture. Acknowledging the contributions of Chinese businesses in Ghana, and encouraged further investments, particularly in value-added industries, manufacturing, and technology-driven sectors.
“As I mentioned in my inaugural address, Ghana is open for business again. I invite our Chinese partners to explore the vast opportunities available, ensuring a win-win situation for both nations,” he said.
Beyond economic ties, President Mahama stressed the importance of cultural exchanges and education, noting that Ghanaian students studying in China had benefited greatly from scholarships and technical training programs.
He called for increased collaboration in innovation and digital transformation, which could further boost economic growth.
GNA