Standard Bank has sharply revised its projection for Ghana’s current account surplus, citing mounting external headwinds driven by elevated oil prices and surging shipping costs.
The downgrade reflects the direct impact of Middle East geopolitical tensions on West Africa’s trade balances, as higher freight rates and energy inputs squeeze the nation’s external position.
7% in May, marking the third consecutive month of rising prices.
The revision underscores the vulnerability of Ghana’s external accounts to global supply chain disruptions.
With shipping costs rising, the cost of imports increases while export competitiveness faces pressure, narrowing the surplus that has been a key pillar of the country’s economic stabilization efforts.
This development adds to existing domestic challenges.
Ghana’s annual inflation rate accelerated to 5.3% in June, up from 3.7% in May, marking the third consecutive month of rising prices.