By Kofi Ahovi Ghana’s overall Balance of Payments recorded a surplus of US$546.5 million in 2011, just a third of the GHc1.5 billion recorded in 2010, data from Bank of Ghana has shown. This is primarily because of the widening current account deficit. Total merchandise exports grew by 60.6% in 2011 to US$12.7 billion while total merchandise imports also grew by 46.2% in 2011 to US$15.9 billion resulting in a deficit of US$3.1 billion for 2011. Meanwhile, just as in 2010, the capital and financial account recorded strong surplus, driven by net inflows of private capital investment, which largely negated both the trade and current account deficits. Also total inward transfers helped the balance of payment position too. The growth in total merchandise exports in 2011 was supported by oil exports and favourable commodity prices. The exports of gold amounted to US$4.9 billion while cocoa beans totalled US$2 billion. The value of crude oil exports was US$2.7 billion over the same per...