Fuel Imports Soar Despite Ghana's Oil Production

Ghana's economy is grappling with a paradox - despite being an oil-producing nation, fuel remains the country's largest import item. According to a report by the Ghana Statistical Service (GSS), fuel accounted for 26% of all imports in 2025, making it the single largest import category.

The report highlights that energy products have dominated Ghana's import bill since 2010, with the country exporting crude oil and importing large volumes of refined petroleum products. This has resulted in a significant loss of value to the economy, as Ghana could be refining its own fuel instead of relying on imports.

As part of its policy recommendations, the GSS calls for efforts to reduce the country's dependence on imported refined fuel by strengthening domestic refining capacity where economically viable. This would allow Ghana to retain more value within the economy, reduce pressure on foreign exchange demand, and lessen dependence on imported petroleum products.