Data from the Bank of Ghana (BoG) and the World Bank has revealed that Ghana’s gold export volumes declined marginally in the first half of 2026, with shipment disruptions linked to the Middle East conflict.
According to the BoG data, the Middle East conflict is affecting the country’s key gold export value chain.
The data show that gold export earnings increased sharply despite a slight decline in volumes.
The Bank of Ghana data showed the value of gold exports rose by 49% to US$12.50 billion, from US$8.39 billion in the same period of 2025.
“The increase was largely driven by a 49.7% rise in the average realised gold price to US$4,463.80 per fine ounce.
However, gold export volumes remained broadly flat at 2.80 million fine ounces, representing a 0.5% decline from the 2.81 million fine ounces recorded in the first half of 2025,” Joynews stated.
BoG attributed the marginal decline largely to shipment disruptions following the onset of the Middle East conflict.
Also, the World Bank has also highlighted the impact of the tensions on Ghana’s gold export routes.
The World Bank revealed that Ghana was forced to reroute some gold shipments through Shanghai and India after disruptions affected the traditional route in the United Arab Emirates.
“Ghana’s gold refining routes through the United Arab Emirates were disrupted, requiring costly rerouting to Shanghai and India and adding logistical delays to a key export value chain.”
Reports suggest the disruptions have therefore added costs and delays to an export sector.
In other news, the Ghana Chamber of Mines has disclosed that Ghana has been ranked sixth among the world’s largest gold-producing countries in 2025 after producing 185 tonnes of gold.
According to the Ghana Chamber of Mines, Ghana improved its traditional seventh position, with the country overtaking the United States following an increase in domestic production and a decline in US output.
Christopher Nyarko, the Director of Analysis, Research and Finance at the Chamber, made this known during an interview on Channel One TV’s The Point of View on Monday, August 17.
Christopher Nyarko stated, “We are number six. We’re number six now, right after Peru. So globally, China, Russia, Australia, Canada, Peru, then Ghana comes in, and then the United States follow”.
“Last year [2025], Ghana overtook the US, but traditionally, we’ve always been number seven,” Mr Nyarko said.
“Last year [2025], they ran into a number of technical issues. So production for the country as a whole dropped. And of course, given the dynamics in Ghana, we saw Ghana displace the United States,” he added.
He, however, noted that rankings among some of the leading producers can vary depending on the source of data.
“Even depending on the kind of source of your data, there’s always some tension between Russia, China, and Australia, in terms of who is the largest producer,” he said.
Ghana’s sixth-place ranking comes after a record year for domestic gold production, with small-scale mining accounting for 52.38 per cent of total output, overtaking the large-scale sector for the first time in more than 100-years.
Meanwhile, the Chamber has projected further growth in Ghana’s gold production in 2026, predicting national output between 6.1 million and 6.7 million ounces.
@ghnow_ Hon. Ewurabena Aubynn is empowering constituents of Ablekuma North through poultry farming by distributing birds and supporting sustainable livelihood opportunities. 🐔🇬🇭 #GHNow #fyp ♬ original sound – NDCMUSICHQ
@ghnow_ Hon Ewurabena Aubynn donates chicks to Ablekuma North Poulty Farmers #GHNow #fyp ♬ original sound – NDCMUSICHQ
