Bilateral trade between Ghana and Canada has risen sharply to US$752million, representing a 56 percent increase from the previous year, according to a new report.

The surge underscores strengthening economic ties between the two countries, with Ghana now ranked Canada’s fifth-largest trading partner in sub-Saharan Africa and eighth across the continent.

Data from Canada Trade show that bilateral trade stood at US$483million in 2024, comprising exports of US$316million and imports of US$166million. Trade has traditionally been driven by Canada’s export of cereals and vehicles, while Ghana’s exports are dominated by cocoa and soya beans.

However, the report notes a shift in the trade landscape supported by Ghana’s strong economic growth outlook, which is creating new opportunities for Canadian businesses.

Key sectors identified for expansion include clean technology, infrastructure, extractive industries – particularly oil, gas and mining – as well as information and communications technology and education.

Canada’s growing interest in these sectors is reflected by its mining footprint in Ghana, with Canadian mining assets estimated at US$1.1billion as of 2023.

The report highlights Ghana’s stable political environment, strong institutions and independent judiciary as major factors underpinning its attractiveness as an investment destination. Its strategic position in West Africa, coupled with opportunities under the African Continental Free Trade Area (AfCFTA), further enhances its role as a gateway to regional markets.

Canada and Ghana share longstanding diplomatic and economic relations dating back to 1957, when Canada recognised Ghana’s independence. Since then, Canada has committed more than US$2.5billion in development assistance to the country.

This support has contributed to improvements in agriculture, healthcare and social development. Canadian-backed programmes have provided access to modern contraception for about four million people and delivered sexual and reproductive health services to more than five million, including adolescents.

Nutrition interventions have also reached approximately 2.5 million adolescent girls, helping to reduce anaemia prevalence from 48 percent in 2022 to 43 percent in 2024.

In the 2022–2023 fiscal year alone, Canada committed US$116.7million to support skills development among young people – particularly in agriculture and the green economy, while promoting women’s economic empowerment.

Canadian support also contributed to the passage of Ghana’s Affirmative Action legislation through initiatives such as the Women’s Voice and Leadership Programme.

Beyond trade and development, cooperation between the two countries extends to security. Under the Military Training and Cooperation Programme, Canada provides training support for the Ghana Armed Forces to strengthen peacekeeping capabilities.

In 2018, both countries also partnered under the Elsie Initiative for Women in Peace Operations to increase the participation of women in peacekeeping missions.

With diplomatic missions in Accra and Ottawa, as well as consulates in Vancouver, Toronto and Montréal, Ghana and Canada continue to deepen a relationship that spans decades and is increasingly anchored in trade, investment and strategic cooperation.