Economy of Ghana
Population: 29.77 M (2018)
GDP per Capita: 2,202 USD (2018)
65,560 M.

GDP USD

(2018)

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23,120 M.

EXPORTS USD

(2018)

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23,870 M.

IMPORTS USD

(2018)

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59.56 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 6.26 % (2018)
GDP of 2010 USD USD 53.80 B. (2018)
GDP Current USD USD 65.56 B. (2018)
GDP per Capita Current USD USD 2,202 (2018)
GDP per capita, PPP USD 4,212 (2018)
GDP per Capita, 2010 USD USD 1,807 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 9.01 % (2018)
Government Spending USD 5.91 B. (2018)
Government Debt % GDP 59.56 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 190.29 (2018)
Trade Openness 71.68 % (2018)
Exports of Goods and Services % GDP 35.26 % (2018)
Exports Goods & Services USD 23.12 B. (2018)
Exports Annual Growth 10.25 % (2018)
Imports as % GDP 36.41 % (2018)
Total Imports USD 23.87 B. (2018)
Foreign Direct Investment % GDP 4.56 % (2018)
Foreign Direct Investment USD 2.99 B. (2018)
Current Account Balance % GDP USD -3.12 % (2018)
Current Account Balance USD -2.04 B. (2018)
Trade Balance % GDP -1.15 % (2018)
Trade Balance USD -0.71 B. (2018)
Foreign Exchange Reserves incl Gold USD 6.29 B. (2018)
Remittances % GDP 5.80 % (2018)
Remittances USD 3,521 M. (2018)
Balance of Payments USD 79 M. (2017)

Labor Market

Indicator Value
Labor Force 12.84 M. (2019)
Unemployment Rate 6.78 % (2019)
Unemployment Rate Females 4.46 % (2019)
Unemployment Rate Males 4.22 % (2019)
Youth Unemployment (ages 15-24) 13.69 % (2019)
Labor Force Participation Rate 67.42 % (2019)
Labor Force (Percent Female) 46.50 % (2019)
Female Labor Force Participation Rate 63.51 % (2019)
Male Labor Force Participation Rate 71.47 % (2019)
Dependent People 68.53 % (2018)

Agriculture Sector

Indicator Value
Forest Area 41.20 % (2016)
Forest Area km² 93,654 km² (2016)
Agricultural Land 69.00 % (2016)
Agricultural Land km² 157,000 km² (2016)
Employment 33.50 % (2019)
Value added % GDP 18.27 % (2018)
Agriculture Value added USD 11.98 B. (2018)
Crop Production Index 154.30 (2016)
Precipitation 1,187 mm (2014)
Arable Land 21 % (2016)
Cereal Yield 1,873 kg/hectare (2017)
Food production index 153 (2016)
Rural Population 44 % (2018)
Fertilizer use of Arable Land 21 kg/hectare (2016)
Livestock Production Index 135 (2016)
Economy of Ghana

According to the World Bank and its latest published data, the economy of the Ghana presents a growth rate of 6.26 % (2018) to the previous year.

With a population that reaches 29.77 M (2018) and a gross domestic product of USD 65.56 B. (2018), it translates a Gross Domestic Product per Capita of USD 2,202 placing its inhabitants on the threshold of an Lower middle income country (according to the World Bank's updated classification).

Ghana also has a workforce of 12.84 M. (2019) with an unemployment rate of 6.78 % (2019), where women represent 4.46 % (2019) and men 4.22 % (2019), the unemployment rate for young people between 15-24 years old stood at 13.69 % (2019). The total number of dependent people stands at 68.53 % (2018).

The central government spent 9.01 % (2018) of its gross domestic product that year, which in absolute terms is USD 5.91 B. (2018). Its consolidated public debt reached 59.56 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Ghana exported USD 23.12 B. (2018), which represents 35.26 % (2018) of its gross domestic product, in that same sense its imports reached USD 23.87 B. (2018) with a direct foreign investment of USD 2.99 B. (2018).

Ghana has a forest area of 93,654 km² (2016), which represents 41.20 % (2016) of its total area, an average rainfall of 1,187 mm (2014) per year and a population of 44 % (2018) living in rural areas. With a total area of 157,000 km² (2016) available for agriculture and 33.50 % (2019) of its employments, the agricultural sector contributes to the economy of the Ghana about USD 11.98 B. (2018) (18.27 % (2018) of its GDP).