Gold Ghana Where Does It Go?

economy
python
An analysis of Ghana’s gold export market and their trading key partners.
Published

Aug 27, 2026

Keywords

wealth-income

Summary

The chart shows the main importers of gold from Ghana, one of the world’s largest producers and exporters.

Code 
# Libraries
# ================================================
import comtradeapicall
import matplotlib.pyplot as plt
import seaborn as sns
import requests
import matplotlib.image as mpimg
import os
from io import BytesIO
from matplotlib.offsetbox import OffsetImage, AnnotationBbox

# Data Extraction
# ================================================
# Convert ISO to code
country = comtradeapicall.convertCountryIso3ToCode('GHA')[:3]

# Create df using parameters
df = comtradeapicall.previewFinalData(
    typeCode='C',              # Goods (C) or Services (S)
    freqCode='A',              # Annual (A) or Monthly (M)
    clCode='HS',               # Indicates the product classification used and which version (HS, SITC)
    period='2023',             # Period
    reporterCode=country,      # Country origin (reporter)
    cmdCode='7108',            # Product code in conjunction with classification code (7108 Gold)
    flowCode='X',              # Exportaciones (X) imports (M)
    partnerCode=None,          # Country destination (partner)
    partner2Code=None,         # The primary partner country or geographic area for the respective trade flow
    customsCode=None,          # A secondary partner country or geographic area for the respective trade flow
    motCode=None,              # The mode of transport used when goods enter or leave the economic territory of a country
    maxRecords=500,            # Limit number of returned records
    format_output='JSON',      # The output format. CSV or JSON
    aggregateBy=None,          # Option for aggregating the query
    breakdownMode='classic',   # Option to select the classic (trade by partner/product) or plus (extended breakdown) mode
    countOnly=None,            # Return the actual number of records if set to True
    includeDesc=True           # Option to include the description or not
)

# Sort data by value
df = df.sort_values(by='primaryValue', ascending=False)

# Select and rename columns
df = df[['flowDesc', 'refYear', 'reporterISO', 'reporterDesc', 'partnerISO', 'partnerDesc', 'primaryValue', 'customsDesc', 'motDesc', 'cmdCode', 'cmdDesc']]
df.columns = ['flow', 'year','reporter_iso','reporter','partner_iso','partner','value','custom_desc','transport_mode', 'product_code', 'product']

# Filter World partner
df = df[df['partner_iso'] != 'W00']

# Solving names
df.loc[df['partner_iso'] == 'HKG', 'partner'] = 'Hong Kong'
df.loc[df['partner_iso'] == 'TUR', 'partner'] = 'Turkey'
df.loc[df['partner_iso'] == 'KOR', 'partner'] = 'South Korea'
df.loc[df['partner_iso'] == 'FRO', 'partner'] = 'Faroe Islands'

print(df)

# Data Visualization
# ================================================
# Font and style
plt.rcParams.update({'font.family': 'sans-serif', 'font.sans-serif': ['Franklin Gothic'], 'font.size': 9})
sns.set(style="white", palette="muted")

# Create figure
fig, ax = plt.subplots(figsize=(10, 6))

# Barplot
bars = sns.barplot(
    data=df,
    y='partner',
    x='value',
    color='goldenrod',
    orient='h'
)

# Add title and subtitle
fig.add_artist(plt.Line2D([0.155, 0.155], [0.87, 0.97], linewidth=6, color='#203764', solid_capstyle='butt'))
plt.text(0.02, 1.13, f'Ghana Gold Exports', fontsize=16, fontweight='bold', ha='left', transform=plt.gca().transAxes)
plt.text(0.02, 1.09, f'Leading gold importers from Ghana in 2024', fontsize=11, color='#262626', ha='left', transform=plt.gca().transAxes)
plt.text(0.02, 1.05, f'(exports in $US billions)', fontsize=9, color='#262626', ha='left', transform=plt.gca().transAxes)

# Axis labels and grid
plt.xlabel('Exports (US$ billions)', fontsize=11, fontweight='bold')
plt.ylabel('')
plt.xticks(
    ticks=plt.xticks()[0],
    labels=[f'{tick / 1e9:.1f}' for tick in plt.xticks()[0]],
    fontsize=9
)
plt.yticks(fontsize=9)
plt.grid(axis='x', linestyle=':', color='gray', alpha=0.7, linewidth=0.5)

# Remove spines
ax = plt.gca()
ax.spines['top'].set_visible(False)
ax.spines['right'].set_visible(False)
ax.spines['bottom'].set_linewidth(0.5)
ax.spines['left'].set_linewidth(0.5)

 # Add Year label
formatted_date = 2024 
ax.text(1, 1.15, f'{formatted_date}',
    transform=ax.transAxes,
    fontsize=22, ha='right', va='top',
    fontweight='bold', color='#D3D3D3')

# Add value label for each bar
for container in bars.containers:
    for bar in container:
        width = bar.get_width()
        
        # Format label
        if width < 1e9:
            label = f'{width / 1e6:.1f}M'  # Milions
        else:
            label = f'{width / 1e9:.2f}B'  # Bilions

        plt.text(width + (0.025e9) * 6,
                 bar.get_y() + bar.get_height() / 2,
                 label,
                 va='center', ha='left', fontsize=9)

# Define flags
flag_urls = {
    'CHE': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/CH.png',
    'ARE': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/AE.png',
    'ZAF': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/ZA.png',
    'IND': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/IN.png',
    'TUR': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/TR.png',
    'HKG': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/HK.png',
    'KOR': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/KR.png',
    'CHN': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/CN.png',
    'DEU': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/DE.png',
    'FRO': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/FO.png',
    'SGP': 'https://raw.githubusercontent.com/matahombres/CSS-Country-Flags-Rounded/master/flags/SG.png'
}

# Load flags
flags = {country: mpimg.imread(BytesIO(requests.get(url).content)) for country, url in flag_urls.items()}

# Add flags with AnnotationBbox and OffsetImage
for partner_iso, bar in zip(df['partner_iso'], bars.patches):
    if partner_iso in flags:
        img = flags[partner_iso]
        imagebox = OffsetImage(img, zoom=0.03)
        x = bar.get_width() + 0.03e9
        y = bar.get_y() + bar.get_height()/2
        ab = AnnotationBbox(imagebox, (x, y), frameon=False, box_alignment=(0,0.5), pad=0)
        ax.add_artist(ab)

# Add Data Source
plt.text(0, -0.15, 'Data Source:', 
    transform=plt.gca().transAxes, 
    fontsize=8,
    fontweight='bold',
    color='gray')
space = " " * 23
plt.text(0, -0.15, space + 'UN Comtrade', 
    transform=plt.gca().transAxes, 
    fontsize=8,
    color='gray')
      
# Adjust layout
plt.tight_layout()

# Save it...
download_folder = os.path.join(os.path.expanduser("~"), "Downloads")
filename = os.path.join(download_folder, f"FIG_COMT_Ghana_Gold_Exports")
plt.savefig(filename, dpi=300, bbox_inches='tight')

# Show :)
plt.show()

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