Countries
Ghana
Key Economic Indicators
$276.11 billion
$8,020
5.59%
22.85%
2.98%
$82.825 billion (2024 est.)
73.4% of GDP (2016 est.)
$1.68 billion
Economic Overview
West African lower-middle income economy; major gold, oil and cocoa exporter; macroeconomic challenges following nearly four decades of sustained growth; recent progress in debt restructuring, fiscal reforms, financial stability, and curbing runaway inflation under 2023-26 IMF credit facility program
All Economic Data
Agricultural products
cassava, yams, plantains, maize, oil palm fruit, taro, rice, oranges, pineapples, cocoa beans (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
0.4% of household expenditures (2023 est.)
On food:
39.1% of household expenditures (2023 est.)
Budget
Expenditures:
$19.102 billion (2022 est.)
Note:
<b>note:</b> central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
Revenues:
$11.684 billion (2022 est.)
Currency
code:
GHS
name:
Ghanaian cedi (GHS) [₵]
Current account balance
$1.68 billion
Current account balance 2021:
-$2.541 billion (2021 est.)
Current account balance 2022:
-$1.741 billion (2022 est.)
Current account balance 2023:
$1.407 billion (2023 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$37.41 billion
Debt - external 2023:
$29.241 billion (2023 est.)
Note:
<strong>note:</strong> present value of external debt in current US dollars
Exchange rates
Currency:
cedis (GHC) per US dollar -
Exchange rates 2019:
5.217 (2019 est.)
Exchange rates 2020:
5.596 (2020 est.)
Exchange rates 2021:
5.806 (2021 est.)
Exchange rates 2022:
8.272 (2022 est.)
Exchange rates 2023:
11.02 (2023 est.)
Exports
$29.2 billion
Exports 2021:
$23.901 billion (2021 est.)
Exports 2022:
$25.52 billion (2022 est.)
Exports 2023:
$25.365 billion (2023 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
gold, crude petroleum, cocoa beans, manganese ore, cocoa paste (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Switzerland 24%, UAE 18%, India 8%, South Africa 7%, China 7% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$1.77 billion
GDP - composition, by end use
Exports of goods and services:
35.3% (2024 est.)
Government consumption:
4.8% (2024 est.)
Household consumption:
84.1% (2024 est.)
Imports of goods and services:
-34.1% (2024 est.)
Investment in fixed capital:
9.8% (2024 est.)
Investment in inventories:
0.2% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
20.7% (2024 est.)
Industry:
28.8% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
43.9% (2024 est.)
GDP (official exchange rate)
$82.825 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$2,391
Gini Index coefficient - distribution of family income
43.5 (2016)
Gini Index coefficient - distribution of family income 2016:
43.5 (2016 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$79.23 billion
GNI per capita
$2,310
Gross domestic investment
10 % of GDP
Household income or consumption by percentage share
Highest 10%:
32.2% (2016 est.)
Lowest 10%:
1.6% (2016 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$28.24 billion
Imports 2021:
$25.967 billion (2021 est.)
Imports 2022:
$26.329 billion (2022 est.)
Imports 2023:
$26.024 billion (2023 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
refined petroleum, cars, plastics, plastic products, footwear (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
China 30%, Netherlands 8%, India 5%, USA 5%, Russia 5% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
7.1% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
mining, lumbering, light manufacturing, aluminum smelting, food processing, cement, small commercial ship building, petroleum
Inflation rate (consumer prices)
22.85%
Inflation rate (consumer prices) 2022:
31.3% (2022 est.)
Inflation rate (consumer prices) 2023:
38.1% (2023 est.)
Inflation rate (consumer prices) 2024:
22.8% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
13.928 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
13.25 million persons
Labor force - by occupation
agriculture:
34.57%
industry:
18.26%
services:
47.17%
Population below poverty line
23.4% (2016 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Public debt 2016:
73.4% of GDP (2016 est.)
Real GDP (purchasing power parity)
$276.11 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$223.043 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$230.046 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$243.124 billion (2024 est.)
Real GDP growth rate
5.59%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
3.8% (2022 est.)
Real GDP growth rate 2023:
3.1% (2023 est.)
Real GDP growth rate 2024:
5.7% (2024 est.)
Real GDP per capita
$8,020
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$6,700 (2022 est.)
Real GDP per capita 2023:
$6,800 (2023 est.)
Real GDP per capita 2024:
$7,100 (2024 est.)
Remittances
$3.03 billion
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
2.4% of GDP (2021 est.)
Remittances 2022:
2.8% of GDP (2022 est.)
Remittances 2023:
3% of GDP (2023 est.)
Reserves of foreign exchange and gold
$3.62 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2021:
$9.917 billion (2021 est.)
Reserves of foreign exchange and gold 2022:
$5.205 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$3.624 billion (2023 est.)
Revenue (excl grants)
16 % of GDP
Tax revenue
12 % of GDP
Taxes and other revenues
12.3% (of GDP) (2022 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
2.98%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
3.1% (2022 est.)
Unemployment rate 2023:
3.1% (2023 est.)
Unemployment rate 2024:
3.1% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
5.3% (2024 est.)
Male:
5.5% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
5.4% (2024 est.)
World Bank Indicators
Currency
Ghanaian cedi (GHS) (2025)
Gini Index
43.50 (2016)
Languages
English (2025)
Economic Rankings
Inflation Rate
#16
External Debt
#37
Gini Index
#42
GDP (PPP)
#68
GDP Growth Rate
#68
Reserves
#77
GDP (Nominal)
#78
Exports
#82
Imports
#84
GDP per Capita
#136
Unemployment Rate
#147
Quick Facts
Industries
mining, lumbering, light manufacturing, aluminum smelting, food processing, cement, small commercial ship building, petroleum
Agricultural products
cassava, yams, plantains, maize, oil palm fruit, taro, rice, oranges, pineapples, cocoa beans (2023)
Labor force
13.928 million (2024 est.)
Exports - partners
Switzerland 24%, UAE 18%, India 8%, South Africa 7%, China 7% (2023)
Imports - partners
China 30%, Netherlands 8%, India 5%, USA 5%, Russia 5% (2023)
Exchange rates
cedis (GHC) per US dollar -
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