Middle East Conflict Disrupts Ghana’s Gold Exports as First-Half Volumes Decline
Middle East tensions disrupt key gold routes, forcing Ghana to reroute shipments through Asia.
- Gold exports hit US$12.5bn
- Volumes dip 0.5% to 2.8m ounces
- Middle East conflict disrupts shipment routes
Ghana’s gold export volumes recorded a marginal decline in the first half of 2026, with disruptions linked to the ongoing Middle East conflict affecting key shipment routes.
Despite the dip in export volumes, the value of Ghana’s gold exports surged by 49% to US$12.50 billion, up from US$8.39 billion during the same period in 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, export volumes fell by 0.5%, from 2.81 million fine ounces to 2.80 million fine ounces.
The Bank of Ghana attributed the slight decline mainly to shipment disruptions following the outbreak of the Middle East conflict.
The World Bank also reported that Ghana had to reroute some gold shipments through Shanghai and India after disruptions affected the traditional route through the United Arab Emirates.
The development has increased logistical costs and delays in Ghana’s gold export value chain, raising concerns about the resilience of the country’s export routes amid continued geopolitical tensions in the region.
The United Arab Emirates remains Ghana’s leading destination for gold exports, according to recent trade data from the Ghana Statistical Service.
