Ghana-Rep. of Korea Bilateral Trade Analysis 2023
Complete trade statistics: $233.80M total volume •Ghana deficit: $233.80M
Ghana → Rep. of Korea
$0
Exports (2023)
Rep. of Korea → Ghana
$233.80M
Imports (2023)
Trade Balance
$233.80M
Deficit for Ghana
Total Trade
$233.80M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Ghana and Rep. of Korea. Green line shows exports from Ghana, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Ghana-Rep. of Korea commercial relationship and competitive positioning in global markets.
Ghana → Rep. of Korea Exports
Export Market Intelligence
🎯 Strategic Export Focus
Ghana's export portfolio to Rep. of Korea demonstrates strategic specialization, with metals: gold, non-monetary, unwrought (but not powder) representing a key competitive advantage in this bilateral market.
Rep. of Korea → Ghana Imports
Import Dependency Profile
📦 Import Strategy Analysis
Ghana's import pattern from Rep. of Korea reveals significant dependencyin cyanides and cyanide oxides: of sodium, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Ghana demonstrates competitive strength in exportingmetals: gold, non-monetary, unwrought (but not powder) to Rep. of Korea, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $233.80M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Ghana-Rep. of Korea Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $233.80 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Ghana maintains a deficit of $233.80 million
- Export Focus: Ghana's primary exports include metals: gold, non-monetary, unwrought (but not powder), cocoa beans: whole or broken, raw or roasted, metals: silver, unwrought, (but not powder)
- Import Dependencies: Key imports from Rep. of Korea include cyanides and cyanide oxides: of sodium, ethylene polymers: in primary forms, polyethylene having a specific gravity of 0.94 or more, vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a gvw not exceeding 5 tonnes), n.e.c. in item no 8704.1
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $233.80M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Ghana leveraging its comparative advantages in metals: gold, non-monetary, unwrought (but not powder).
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Ghana's specialization in metals: gold, non-monetary, unwrought (but not powder)complements Rep. of Korea's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in cyanides and cyanide oxides: of sodium.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $233.80M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $233.80M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $233.80 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in metals: gold, non-monetary, unwrought (but not powder) and cyanides and cyanide oxides: of sodium demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Ghana's trade deficit of $233.80 million impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Ghana and Rep. of Korea represents a total trade volume of $233.80 million in 2023. This partnership demonstrates an unfavorable trade balance for Ghana, with imports exceeding exportsby $233.80 million.
Export Strengths
Ghana's exports to Rep. of Korea total $0.00, with competitive advantages in metals: gold, non-monetary, unwrought (but not powder), representing $13.03M orInfinity% of bilateral exports.
Import Dependencies
Imports from Rep. of Korea amount to $233.80 million, highlighting economic interdependence in cyanides and cyanide oxides: of sodium, with Cyanides and cyanide oxides: of sodium comprising15.9% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Ghana's strategic sourcing from Rep. of Korea. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Ghana and Rep. of Korea in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023