Ghana’s small-scale gold export sector has recorded a remarkable surge this year, generating more than US$8.06 billion in revenue between January and mid-October 2025.
Fresh data from the Ghana Gold Board (Goldbod) reveal that a total of 81,719.22 kilogrammes (kg) of gold were exported during the period—up sharply from 63,647.22 kg in 2024 and 37,454.01 kg in 2023.
The impressive performance is largely attributed to tighter regulation, strengthened export monitoring systems and renewed investor confidence in Ghana’s small-scale mining subsector, jointly overseen by Goldbod and the Precious Minerals Marketing Company (PMMC).
Goldbod’s monthly figures show consistent expansion in both the volume and value of exports throughout 2025.
In January, exports reached 6,178.69 kg, valued at US$506.41 million, nearly tripling the US$170.66 million recorded in the same month last year.
The momentum peaked in May, when small-scale exports climbed to 11,068.55 kg, generating a record US$1.17 billion, the highest monthly figure so far.
Strong performances continued into June and July, which brought in US$957.90 million and US$829.84 million, respectively.
In September, exports reached 10,533.56 kg, valued at US$1.16 billion, signalling sustained stability in the third quarter.
A comparison over the past three years underscores significant progress in the subsector. Between 2023 and 2024, small-scale gold exports rose by about 70 percent in weight and more than doubled in value, from US$2.19 billion in 2023 to US$4.61 billion in 2024.
The upward trend has continued in 2025, with exports surging by roughly 75 percent in both volume and value within a single year.
Analysts attribute this growth to improved traceability systems, digital documentation, and a series of structural reforms aimed at promoting transparency and accountability.
Goldbod, established to regulate and streamline small-scale gold exports has played a crucial role in rebuilding confidence in the sector. Working closely with PMMC, the Board has implemented stringent compliance standards to ensure all gold exports pass through official channels.
Goldbod officials credit the impressive results to enhanced digital monitoring, real-time tracking of gold movement, and increased community engagement with miners.
These interventions have drastically reduced smuggling activities and enabled miners to secure fair value for their products.
Gold remains Ghana’s leading foreign exchange earner, and the rise in small-scale exports is expected to bolster the country’s external reserves.
The US$8.06 billion generated so far this year comes at a pivotal moment as the economy continues to recover from recent fiscal challenges.
Economists believe the growth in gold export receipts could help stabilise the cedi, ease pressure on foreign reserves, and support the government’s fiscal consolidation efforts.
With small-scale miners now firmly integrated into the official export chain, the subsector is increasingly being recognised as a vital pillar of Ghana’s economic recovery and long-term resilience.
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