Ghana - Economic Indicators

Economic Overview

Ghana has a market-based economy with relatively few policy barriers to trade and investment in comparison with other countries in the region, and Ghana is well-endowed with natural resources. Ghana's economy was strengthened by a quarter century of relatively sound management, a competitive business environment, and sustained reductions in poverty levels, but in recent years has suffered the consequences of loose fiscal policy, high budget and current account deficits, and a depreciating currency. Agriculture accounts for about 20% of GDP and employs more than half of the...

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GDP Reference Last Previous Units Frequency
Nominal Fixed Investment (gross fixed capital formation) 2016 37,098,180,900 33,043,928,000 NCU Annual
Private Consumption 2016 139,889,804,186 116,581,833,522 GHS Annual
Investment 2016 23,010,020,351 21,761,821,528 GHS Annual
Government Consumption 2016 15,175 13,352 Mil. GHP Annual
Real Gross Domestic Product 2016 149.44 144.43 Index 1995=100 Annual
Nominal Gross Domestic Product 2016 167,315 136,957 Mil. GHP Annual
Real Fixed Investment (gross fixed capital formation) 2015 10,558,906,300 10,278,847,800 NCU Annual
Real Investment 2015 11,289,944,300 10,823,870,900 NCU Annual
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Oct 2017 241.18 238.94 2010=100, NSA Monthly
Labor Reference Last Previous Units Frequency
Agriculture Employment 2017 5,543,146 5,473,797 # Annual
Labor Force 2017 13,636,612 13,273,030 # Annual
Unemployment Rate 2017 2.36 2.26 % of total labor force Annual
Unemployment Dec 1995 28,900 42,300 #, NSA Monthly
Labor Force Employment 1991 186.3 229.6 Ths. Annual
Trade Reference Last Previous Units Frequency
Current Account Balance 2017 Q4 -808,220,000 -1,013,030,000 USD, NSA Quarterly
Balance of Goods 2017 Q4 408,540,000 -350,470,000 USD, NSA Quarterly
Imports of Goods 2017 Q4 3,338,990,000 3,239,560,000 USD, NSA Quarterly
Exports of Goods 2017 Q4 3,747,530,000 2,889,090,000 USD, NSA Quarterly
Real Exports of Goods and Services 2016 17,391,891,300 14,771,098,400 NCU Annual
Real Imports of Goods and Services 2016 20,432,711,200 18,745,567,800 NCU Annual
Exports of Goods and Services 2016 68,329,203,386 61,253,044,686 GHS Annual
Imports of Goods and Services 2016 80,323,504,471 77,119,310,261 GHS Annual
Government Reference Last Previous Units Frequency
Government Budget Balance 2010 -979,173,979 -721,752,165 current LCU Annual
Government Revenues 2010 8,036,734,390 NCU Annual
Markets Reference Last Previous Units Frequency
Lending Rate May 2017 22.5 23.5 % - End of period Monthly
Treasury Bills (over 31 days) Mar 2016 21.41 21.45 % p.a., NSA Monthly
Money Market Rate Mar 2016 25.39 25.36 % p.a., NSA Monthly
Average Long-term Government Bond Mar 2016 24.75 24.75 % Monthly
Demographics Reference Last Previous Units Frequency
Population 2017 28,833,629 28,206,728 # Annual
Death Rate 2016 8.15 8.31 # per Ths. pop. Annual
Birth Rate 2016 31.05 31.56 # per Ths. pop. Annual
Net Migration 2012 -49,999 # Annual

Factbook

Background

Background:
Formed from the merger of the British colony of the Gold Coast and the Togoland trust territory, Ghana in 1957 became the first sub-Saharan country in colonial Africa to gain its independence. Ghana endured a series of coups before Lt. Jerry RAWLINGS took power in 1981 and banned political parties. After approving a new constitution and restoring multiparty politics in 1992, RAWLINGS won presidential elections in 1992 and 1996 but was constitutionally prevented from running for a third term in 2000. John KUFUOR of the opposition New Patriotic Party (NPP) succeeded him and was reelected in 2004. John Atta MILLS of the National Democratic Congress won the 2008 presidential election and took over as head of state, but he died in July 2012 and was constitutionally succeeded by his vice president, John Dramani MAHAMA, who subsequently won the December 2012 presidential election. In 2016, however, Nana Addo Dankwa AKUFO-ADDO of the NPP defeated MAHAMA, marking the third time that the Ghana’s presidency has changed parties since the return to democracy.

Geography

Location:
Western Africa, bordering the Gulf of Guinea, between Cote d'Ivoire and Togo
Geographic coordinates:
8 00 N, 2 00 W
Map references:
Africa
Area:
total: 238,533 sq km
land: 227,533 sq km
water: 11,000 sq km
country comparison to the world: 83
Area - comparative:
slightly smaller than Oregon
Land boundaries:
total: 2,420 km
border countries (3): Burkina Faso 602 km, Cote d'Ivoire 720 km, Togo 1,098 km
Coastline:
539 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: 200 nm
Climate:
tropical; warm and comparatively dry along southeast coast; hot and humid in southwest; hot and dry in north
Terrain:
mostly low plains with dissected plateau in south-central area
Elevation:
mean elevation: 190 m
elevation extremes: lowest point: Atlantic Ocean 0 m
highest point: Mount Afadjato 885 m
Natural resources:
gold, timber, industrial diamonds, bauxite, manganese, fish, rubber, hydropower, petroleum, silver, salt, limestone
Land use:
agricultural land: 69.1%
arable land 20.7%; permanent crops 11.9%; permanent pasture 36.5%
forest: 21.2%
other: 9.7% (2011 est.)
Irrigated land:
340 sq km (2012)
Population - distribution:
population is concentrated in the southern half of the country, with the highest concentrations being on or near the Atlantic coast
Natural hazards:
dry, dusty, northeastern harmattan winds from January to March; droughts
Environment - current issues:
recurrent drought in north severely affects agricultural activities; deforestation; overgrazing; soil erosion; poaching and habitat destruction threatens wildlife populations; water pollution; inadequate supplies of potable water
Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands
signed, but not ratified: Marine Life Conservation
Geography - note:
Lake Volta is the world's largest artificial lake (manmade reservoir) by surface area (8,482 sq km; 3,275 sq mi); the lake was created following the completion of the Akosombo Dam in 1965, which holds back the White Volta and Black Volta Rivers

People & Society

Population:
27,499,924
note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality, higher death rates, lower population growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2017 est.)
country comparison to the world: 49
Nationality:
noun: Ghanaian(s)
adjective: Ghanaian
Ethnic groups:
Akan 47.5%, Mole-Dagbon 16.6%, Ewe 13.9%, Ga-Dangme 7.4%, Gurma 5.7%, Guan 3.7%, Grusi 2.5%, Mande 1.1%, other 1.4% (2010 est.)
Languages:
Asante 16%, Ewe 14%, Fante 11.6%, Boron (Brong) 4.9%, Dagomba 4.4%, Dangme 4.2%, Dagarte (Dagaba) 3.9%, Kokomba 3.5%, Akyem 3.2%, Ga 3.1%, other 31.2%
note: English is the official language (2010 est.)
Religions:
Christian 71.2% (Pentecostal/Charismatic 28.3%, Protestant 18.4%, Catholic 13.1%, other 11.4%), Muslim 17.6%, traditional 5.2%, other 0.8%, none 5.2% (2010 est.)
Demographic profile:
Ghana has a young age structure, with approximately 57% of the population under the age of 25. Its total fertility rate fell significantly during the 1980s and 1990s but has stalled at around four children per woman for the last few years. Fertility remains higher in the northern region than the Greater Accra region. On average, desired fertility has remained stable for several years; urban dwellers want fewer children than rural residents. Increased life expectancy, due to better health care, nutrition, and hygiene, and reduced fertility have increased Ghana’s share of elderly persons; Ghana’s proportion of persons aged 60+ is among the highest in sub-Saharan Africa. Poverty has declined in Ghana, but it remains pervasive in the northern region, which is susceptible to droughts and floods and has less access to transportation infrastructure, markets, fertile farming land, and industrial centers. The northern region also has lower school enrollment, higher illiteracy, and fewer opportunities for women.
Ghana was a country of immigration in the early years after its 1957 independence, attracting labor migrants largely from Nigeria and other neighboring countries to mine minerals and harvest cocoa – immigrants composed about 12% of Ghana’s population in 1960. In the late 1960s, worsening economic and social conditions discouraged immigration, and hundreds of thousands of immigrants, mostly Nigerians, were expelled.
During the 1970s, severe drought and an economic downturn transformed Ghana into a country of emigration; neighboring Cote d’Ivoire was the initial destination. Later, hundreds of thousands of Ghanaians migrated to Nigeria to work in its booming oil industry, but most were deported in 1983 and 1985 as oil prices plummeted. Many Ghanaians then turned to more distant destinations, including other parts of Africa, Europe, and North America, but the majority continued to migrate within West Africa. Since the 1990s, increased emigration of skilled Ghanaians, especially to the US and the UK, drained the country of its health care and education professionals. Internally, poverty and other developmental disparities continue to drive Ghanaians from the north to the south, particularly to its urban centers.
Age structure:
0-14 years: 38.01% (male 5,253,430/female 5,198,892)
15-24 years: 18.63% (male 2,548,661/female 2,575,160)
25-54 years: 34.14% (male 4,554,972/female 4,834,765)
55-64 years: 4.97% (male 664,866/female 701,277)
65 years and over: 4.25% (male 538,790/female 629,111) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 73
youth dependency ratio: 67.1
elderly dependency ratio: 5.9
potential support ratio: 17.1 (2015 est.)
Median age:
total: 21.1 years
male: 20.6 years
female: 21.6 years (2017 est.)
country comparison to the world: 185
Population growth rate:
2.17% (2017 est.)
country comparison to the world: 36
Birth rate:
30.5 births/1,000 population (2017 est.)
country comparison to the world: 36
Death rate:
7 deaths/1,000 population (2017 est.)
country comparison to the world: 131
Net migration rate:
-1.8 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 155
Population distribution:
population is concentrated in the southern half of the country, with the highest concentrations being on or near the Atlantic coast
Urbanization:
urban population: 55.3% of total population (2017)
rate of urbanization: 3.07% annual rate of change (2015-20 est.)
Major urban areas - population:
Kumasi 2.599 million; ACCRA (capital) 2.277 million (2015)
Sex ratio:
at birth: 1.02 male(s)/female
0-14 years: 1.01 male(s)/female
15-24 years: 0.99 male(s)/female
25-54 years: 0.94 male(s)/female
55-64 years: 0.95 male(s)/female
65 years and over: 0.86 male(s)/female
total population: 0.97 male(s)/female (2017 est.)
Mother's mean age at first birth:
22.6 years
note: median age at first birth among women 25-29 (2014 est.)
Maternal mortality ratio:
319 deaths/100,000 live births (2015 est.)
country comparison to the world: 39
Infant mortality rate:
total: 35.2 deaths/1,000 live births
male: 39.1 deaths/1,000 live births
female: 31.1 deaths/1,000 live births (2017 est.)
country comparison to the world: 53
Life expectancy at birth:
total population: 67 years
male: 64.5 years
female: 69.6 years (2017 est.)
country comparison to the world: 172
Total fertility rate:
4 children born/woman (2017 est.)
country comparison to the world: 34
Contraceptive prevalence rate:
30.6% (2016)
Health expenditures:
3.6% of GDP (2014)
country comparison to the world: 168
Physicians density:
0.1 physicians/1,000 population (2010)
Hospital bed density:
0.9 beds/1,000 population (2011)
Drinking water source:
improved:
urban: 92.6% of population
rural: 84% of population
total: 88.7% of population
unimproved:
urban: 7.4% of population
rural: 16% of population
total: 11.3% of population (2015 est.)
Sanitation facility access:
improved:
urban: 20.2% of population
rural: 8.6% of population
total: 14.9% of population
unimproved:
urban: 79.8% of population
rural: 91.4% of population
total: 85.1% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
1.6% (2016 est.)
country comparison to the world: 33
HIV/AIDS - people living with HIV/AIDS:
290,000 (2016 est.)
country comparison to the world: 20
HIV/AIDS - deaths:
15,000 (2016 est.)
country comparison to the world: 17
Major infectious diseases:
degree of risk: very high
food or waterborne diseases: bacterial and protozoal diarrhea, hepatitis A, and typhoid fever
vectorborne diseases: malaria, dengue fever, and yellow fever
water contact disease: schistosomiasis
respiratory disease: meningococcal meningitis
animal contact disease: rabies (2016)
Obesity - adult prevalence rate:
10.9% (2016)
country comparison to the world: 136
Children under the age of 5 years underweight:
11% (2014)
country comparison to the world: 55
Education expenditures:
6.2% of GDP (2014)
country comparison to the world: 13
Literacy:
definition: age 15 and over can read and write
total population: 76.6%
male: 82%
female: 71.4% (2015 est.)
School life expectancy (primary to tertiary education):
total: 12 years
male: 12 years
female: 12 years (2015)
Unemployment, youth ages 15-24:
total: 11.2%
male: 10.2%
female: 12% (2010 est.)
country comparison to the world: 115

Government

Country name:
conventional long form: Republic of Ghana
conventional short form: Ghana
former: Gold Coast
etymology: named for the medieval West African kingdom of the same name, but whose location was actually further north than the modern country
Government type:
presidential republic
Capital:
name: Accra
geographic coordinates: 5 33 N, 0 13 W
time difference: UTC 0 (5 hours ahead of Washington, DC, during Standard Time)
Administrative divisions:
10 regions; Ashanti, Brong-Ahafo, Central, Eastern, Greater Accra, Northern, Upper East, Upper West, Volta, Western
Independence:
6 March 1957 (from the UK)
National holiday:
Independence Day, 6 March (1957)
Constitution:
history: several previous; latest drafted 31 March 1992, approved and promulgated 28 April 1992, entered into force 7 January 1993
amendments: proposed by Parliament; consideration requires prior referral to the Council of State, a body of prominent citizens who advise the president of the republic; passage of amendments to “entrenched” constitutional articles (including those on national sovereignty, fundamental rights and freedoms, the structure and authorities of the branches of government, and amendment procedures) requires approval in a referendum by at least 40% participation of eligible voters and at least 75% of votes cast, followed by at least two-thirds majority vote in Parliament, and assent by the president; amendments to non-entrenched articles do not require referenda; amended 1996 (2017)
Legal system:
mixed system of English common law and customary law
International law organization participation:
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent or grandparent must be a citizen of Ghana
dual citizenship recognized: yes
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Nana Addo Dankwa AKUFO-ADDO (since 7 January 2017); Vice President Mahamudu BAWUMIA (since 7 January 2017); the president is both chief of state and head of government
head of government: President Nana Addo Dankwa AKUFO-ADDO (since 7 January 2017); Vice President Mahamudu BAWUMIA (since 7 January 2017)
cabinet: Council of Ministers; nominated by the president, approved by Parliament
elections/appointments: president and vice president directly elected on the same ballot by absolute majority popular vote in 2 rounds if needed for a 4-year term (eligible for a second term); election last held on 7 December 2016 (next to be held in December 2020)
election results: Nana Addo Dankwa AKUFO-ADDO elected president; percent of vote - Nana Addo Dankwa AKUFO-ADDO (NPP) 53.8%, John Dramani MAHAMA (NDC) 44.4%, other 1.8%
Legislative branch:
description: unicameral Parliament (275 seats; members directly elected in single-seat constituencies by simple majority vote to serve 4-year terms)
elections: last held on 7 December 2016 (next to be held in December 2020)
election results: percent of vote by party - NPP 54%, NDC 44%, other 2%; seats by party - NPP 171, NDC 104
Judicial branch:
highest court(s): Supreme Court (consists of a chief justice and 12 justices)
judge selection and term of office: chief justice appointed by the president in consultation with the Council of State (a small advisory body of prominent citizens) and with the approval of Parliament; other justices appointed by the president upon the advice of the Judicial Council (an 18-member independent body of judicial, military and police officials, and presidential nominees) and on the advice of the Council of State; justices can retire at age 60, with compulsory retirement at age 70
subordinate courts: Court of Appeal; High Court; Circuit Court; District Court; regional tribunals
Political parties and leaders:
note: Ghana has more than 20 registered parties; included are 5 of the more popular parties as of May 2017
Convention People's Party or CPP [Edmund DELLE]
National Democratic Congress or NDC [Kofi PORTUPHY]
New Patriotic Party or NPP Nana AKUFO-ADDO]
People's National Convention or PNC Edward MAHAMA]
Peoples Progressive Party or PPP [Dr. Papa Kwesi NDOUM]
Political pressure groups and leaders:
public policy think tanks: Institute for Democratic Governance (IDEG); IMANI Center for Policy and Education; Ghana Center for Democratic Development; Institute for Economic Affairs
professional and trade groups: Ghana Bar Association; Ghana Trades Union Congress; American Chamber of Commerce; British Chamber of Commerce; and a host of religious organizations
other: wide range of international and domestic human rights and policy advocacy groups, environmental groups, business organizations, traditional leaders and youth groups
International organization participation:
ACP, AfDB, AU, C, ECOWAS, EITI (compliant country), FAO, G-24, G-77, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINURSO, MINUSMA, MONUSCO, NAM, OAS (observer), OIF, OPCW, UN, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, UNISFA, UNMIL, UNMISS, UNOCI, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Barfour ADJEI-BARWUAH (since 21 July 2017)
chancery: 3512 International Drive NW, Washington, DC 20008
telephone: [1] (202) 686-4520
FAX: [1] (202) 686-4527
consulate(s) general: New York
Diplomatic representation from the US:
chief of mission: Ambassador Robert P. JACKSON (since 4 February 2016)
embassy: 24 Fourth Circular Rd., Cantonments, Accra
mailing address: P.O. Box 194, Accra
telephone: [233] 030-274-1000
FAX: [233] 030-274-1389
Flag description:
three equal horizontal bands of red (top), yellow, and green, with a large black five-pointed star centered in the yellow band; red symbolizes the blood shed for independence, yellow represents the country's mineral wealth, while green stands for its forests and natural wealth; the black star is said to be the lodestar of African freedom
note: uses the popular Pan-African colors of Ethiopia; similar to the flag of Bolivia, which has a coat of arms centered in the yellow band
National symbol(s):
black star, golden eagle; national colors: red, yellow, green, black
National anthem:
name: "God Bless Our Homeland Ghana"
lyrics/music: unknown/Philip GBEHO
note: music adopted 1957, lyrics adopted 1966; the lyrics were changed twice, in 1960 when a republic was declared and after a 1966 coup

Economy

Economy - overview:
Ghana has a market-based economy with relatively few policy barriers to trade and investment in comparison with other countries in the region, and Ghana is well-endowed with natural resources. Ghana's economy was strengthened by a quarter century of relatively sound management, a competitive business environment, and sustained reductions in poverty levels, but in recent years has suffered the consequences of loose fiscal policy, high budget and current account deficits, and a depreciating currency.
Agriculture accounts for about 20% of GDP and employs more than half of the workforce, mainly small landholders. Gold and cocoa exports, and individual remittances, are major sources of foreign exchange. Expansion of Ghana’s nascent oil industry has boosted economic growth, but the fall in oil prices since 2015 reduced by half Ghana’s oil revenue. Production at Jubilee, Ghana's offshore oilfield, began in mid-December 2010. The country’s first gas processing plant at Atubao is also producing natural gas from the Jubilee field, providing power to several of Ghana’s thermal power plants.
As of 2017, key economic concerns facing the government include the lack of reliable electricity and the high debt burden. The AKUFO-ADDO administration has made some progress by committing to fiscal consolidation, but much work is still to be done in 2018. Ghana signed a $920 million extended credit facility with the IMF in April 2015 to help it address its growing economic crisis. The IMF fiscal targets require Ghana to reduce the deficit by cutting subsidies, decreasing the bloated public sector wage bill, strengthening revenue administration, and boosting tax revenues. Priorities for the new administration include rescheduling some of Ghana’s $31 billion debt, stimulating economic growth, reducing inflation, and stabilizing the currency. Prospects for new oil and gas production and follow through on tighter fiscal management are likely to help Ghana’s economy in 2018.
GDP (purchasing power parity):
$130.2 billion (2017 est.)
$123 billion (2016 est.)
$118.8 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 81
GDP (official exchange rate):
$45.46 billion (2017 est.)
GDP - real growth rate:
5.9% (2017 est.)
3.5% (2016 est.)
3.8% (2015 est.)
country comparison to the world: 27
GDP - per capita (PPP):
$4,600 (2017 est.)
$4,500 (2016 est.)
$4,400 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 172
Gross national saving:
7.9% of GDP (2017 est.)
7.8% of GDP (2016 est.)
9% of GDP (2015 est.)
country comparison to the world: 166
GDP - composition, by end use:
household consumption: 82.1%
government consumption: 8.7%
investment in fixed capital: 13.9%
investment in inventories: 0.7%
exports of goods and services: 40.3%
imports of goods and services: -45.7% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 18.3%
industry: 24.5%
services: 57.2% (2017 est.)
Agriculture - products:
cocoa, rice, cassava (manioc, tapioca), peanuts, corn, shea nuts, bananas; timber
Industries:
mining, lumbering, light manufacturing, aluminum smelting, food processing, cement, small commercial ship building, petroleum
Industrial production growth rate:
7.4% (2017 est.)
country comparison to the world: 23
Labor force:
12.49 million (2017 est.)
country comparison to the world: 47
Labor force - by occupation:
agriculture: 44.7%
industry: 14.4%
services: 40.9% (2013 est.)
Unemployment rate:
11.9% (2015 est.)
5.2% (2013 est.)
country comparison to the world: 155
Population below poverty line:
24.2% (2013 est.)
Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%: 32.8% (2006 est.)
Distribution of family income - Gini index:
42.3 (2012-13 est.)
41.9 (2005-06 est.)
country comparison to the world: 54
Budget:
revenues: $9.236 billion
expenditures: $12.38 billion (2017 est.)
Taxes and other revenues:
20.3% of GDP (2017 est.)
country comparison to the world: 151
Budget surplus (+) or deficit (-):
-6.9% of GDP (2017 est.)
country comparison to the world: 184
Public debt:
76.8% of GDP (2017 est.)
78.1% of GDP (2016 est.)
country comparison to the world: 45
Fiscal year:
calendar year
Inflation rate (consumer prices):
11.8% (2017 est.)
17.5% (2016 est.)
country comparison to the world: 206
Central bank discount rate:
25.5% (31 December 2016 est.)
26% (31 December 2015 est.)
country comparison to the world: 2
Commercial bank prime lending rate:
30% (31 December 2017 est.)
31.3% (31 December 2016 est.)
country comparison to the world: 8
Stock of narrow money:
$6.909 billion (31 December 2017 est.)
$6.472 billion (31 December 2016 est.)
country comparison to the world: 92
Stock of broad money:
$14.93 billion (31 December 2017 est.)
$13.75 billion (31 December 2016 est.)
country comparison to the world: 99
Stock of domestic credit:
$14.23 billion (31 December 2017 est.)
$13.67 billion (31 December 2016 est.)
country comparison to the world: 99
Market value of publicly traded shares:
$12.55 billion (31 December 2016 est.)
$15.05 billion (31 December 2015 est.)
$3.465 billion (31 December 2012 est.)
country comparison to the world: 69
Current account balance:
$-2.643 billion (2017 est.)
$-2.866 billion (2016 est.)
country comparison to the world: 163
Exports:
$12.16 billion (2017 est.)
$11.06 billion (2016 est.)
country comparison to the world: 82
Exports - commodities:
oil, gold, cocoa, timber, tuna, bauxite, aluminum, manganese ore, diamonds, horticultural products
Exports - partners:
Switzerland 17.6%, India 14.7%, UAE 13.4%, China 8.9%, Vietnam 5.2%, Netherlands 4.2%, Burkina Faso 4% (2016)
Imports:
$12.73 billion (2017 est.)
$12.75 billion (2016 est.)
country comparison to the world: 90
Imports - commodities:
capital equipment, refined petroleum, foodstuffs
Imports - partners:
China 17.3%, UK 9.7%, US 7.7%, Belgium 5.1%, India 4.6% (2016)
Reserves of foreign exchange and gold:
$7.345 billion (31 December 2017 est.)
$6.162 billion (31 December 2016 est.)
country comparison to the world: 83
Debt - external:
$23.1 billion (31 December 2017 est.)
$21.95 billion (31 December 2016 est.)
country comparison to the world: 90
Stock of direct foreign investment - at home:
$19.85 billion (31 December 2013 est.)
$118 million (31 December 2012 est.)
country comparison to the world: 78
Stock of direct foreign investment - abroad:
$16.62 billion (31 December 2013 est.)
$109 million (31 December 2012 est.)
country comparison to the world: 56
Exchange rates:
cedis (GHC) per US dollar -
4.39 (2017 est.)
3.91 (2016 est.)
3.91 (2015 est.)
3.71 (2014 est.)
2.9 (2013 est.)

Energy

Electricity access:
population without electricity: 7,300,000
electrification - total population: 72%
electrification - urban areas: 92%
electrification - rural areas: 50% (2013)
Electricity - production:
11.09 billion kWh (2015 est.)
country comparison to the world: 96
Electricity - consumption:
8.377 billion kWh (2015 est.)
country comparison to the world: 99
Electricity - exports:
552 million kWh (2015 est.)
country comparison to the world: 66
Electricity - imports:
223 million kWh (2015 est.)
country comparison to the world: 91
Electricity - installed generating capacity:
2.839 million kW (2015 est.)
country comparison to the world: 100
Electricity - from fossil fuels:
44.1% of total installed capacity (2015 est.)
country comparison to the world: 163
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 97
Electricity - from hydroelectric plants:
55.7% of total installed capacity (2015 est.)
country comparison to the world: 32
Electricity - from other renewable sources:
1% of total installed capacity (2015 est.)
country comparison to the world: 138
Crude oil - production:
100,500 bbl/day (2016 est.)
country comparison to the world: 44
Crude oil - exports:
99,890 bbl/day (2015 est.)
country comparison to the world: 37
Crude oil - imports:
13,860 bbl/day (2014 est.)
country comparison to the world: 70
Crude oil - proved reserves:
660 million bbl (1 January 2017 est.)
country comparison to the world: 44
Refined petroleum products - production:
2,815 bbl/day (2014 est.)
country comparison to the world: 103
Refined petroleum products - consumption:
79,000 bbl/day (2015 est.)
country comparison to the world: 90
Refined petroleum products - exports:
2,761 bbl/day (2014 est.)
country comparison to the world: 104
Refined petroleum products - imports:
80,350 bbl/day (2014 est.)
country comparison to the world: 65
Natural gas - production:
63.54 million cu m (2016 est.)
country comparison to the world: 84
Natural gas - consumption:
1.325 billion cu m (2015 est.)
country comparison to the world: 92
Natural gas - exports:
0 cu m (2015 est.)
country comparison to the world: 110
Natural gas - imports:
626 million cu m (2015 est.)
country comparison to the world: 66
Natural gas - proved reserves:
22.65 billion cu m (1 January 2017 est.)
country comparison to the world: 75
Carbon dioxide emissions from consumption of energy:
11 million Mt (2013 est.)
country comparison to the world: 100

Communications

Telephones - fixed lines:
total subscriptions: 251,490
subscriptions per 100 inhabitants: 1 (July 2016 est.)
country comparison to the world: 121
Telephones - mobile cellular:
total: 38,305,078
subscriptions per 100 inhabitants: 139 (July 2016 est.)
country comparison to the world: 38
Telephone system:
general assessment: primarily microwave radio relay; wireless local loop has been installed; outdated and unreliable fixed-line infrastructure heavily concentrated in Accra
domestic: competition among multiple mobile-cellular providers has spurred growth with a subscribership of more than 140 per 100 persons and rising
international: country code - 233; landing point for the SAT-3/WASC, Main One, and GLO-1 fiber-optic submarine cables that provide connectivity to South Africa, Europe, and Asia; satellite earth stations - 4 Intelsat (Atlantic Ocean); microwave radio relay link to Panaftel system connects Ghana to its neighbors (2016)
Broadcast media:
state-owned TV station, 2 state-owned radio networks; several privately owned TV stations and a large number of privately owned radio stations; transmissions of multiple international broadcasters are accessible; several cable and satellite TV subscription services are obtainable (2007)
Internet country code:
.gh
Internet users:
total: 9,328,018
percent of population: 34.7% (July 2016 est.)
country comparison to the world: 49

Transportation

National air transport system:
number of registered air carriers: 4
inventory of registered aircraft operated by air carriers: 8
annual passenger traffic on registered air carriers: 390,457
annual freight traffic on registered air carriers: 844,630 mt-km (2015)
Civil aircraft registration country code prefix:
9G (2016)
Airports:
10 (2013)
country comparison to the world: 156
Airports - with paved runways:
total: 7
over 3,047 m: 1
2,438 to 3,047 m: 1
1,524 to 2,437 m: 3
914 to 1,523 m: 2 (2017)
Airports - with unpaved runways:
total: 3
914 to 1,523 m: 3 (2013)
Pipelines:
gas 394 km; oil 20 km; refined products 361 km (2013)
Railways:
total: 947 km
narrow gauge: 947 km 1.067-m gauge (2014)
country comparison to the world: 93
Roadways:
total: 109,515 km
paved: 13,787 km
unpaved: 95,728 km (2009)
country comparison to the world: 45
Waterways:
1,293 km (168 km for launches and lighters on Volta, Ankobra, and Tano Rivers; 1,125 km of arterial and feeder waterways on Lake Volta) (2011)
country comparison to the world: 56
Merchant marine:
total: 44
by type: general cargo 6, oil tanker 2, other 36 (2017)
country comparison to the world: 117
Ports and terminals:
major seaport(s): Takoradi, Tema

Military & Security

Military expenditures:
0.4% of GDP (2017)
0.38% of GDP (2016)
0.52% of GDP (2015)
0.68% of GDP (2014)
0.53% of GDP (2013)
country comparison to the world: 148
Military branches:
Ghana Army, Ghana Navy, Ghana Air Force (2012)
Military service age and obligation:
18-26 years of age for voluntary military service, with basic education certificate; no conscription; must be HIV/AIDS negative (2012)

Transnational Issues

Disputes - international:
disputed maritime border between Ghana and Cote d'Ivoire
Refugees and internally displaced persons:
refugees (country of origin): 6,656 (Cote d'Ivoire) (flight from 2010 post-election fighting) (2017)
Trafficking in persons:
current situation: Ghana is a source, transit, and destination country for men, women, and children subjected to forced labor and sex trafficking; the trafficking of Ghanians, particularly children, internally is more common than the trafficking of foreign nationals; Ghanian children are subjected to forced labor in fishing, domestic service, street hawking, begging, portering, mining, quarrying, herding, and agriculture, with girls, and to a lesser extent boys, forced into prostitution; Ghanian women, sometimes lured with legitimate job offers, and girls are sex trafficked in West Africa, the Middle East, and Europe; Ghanian men fraudulently recruited for work in the Middle East are subjected to forced labor or prostitution, and a few Ghanian adults have been identified as victims of false labor in the US; women and girls from Vietnam, China, and neighboring West African countries are sex trafficked in Ghana; the country is also a transit point for sex trafficking from West Africa to Europe
tier rating: Tier 2 Watch List - Ghana does not fully comply with the minimum standards for the elimination of trafficking; however, it is making significant efforts to do so; Ghana continued to investigate and prosecute trafficking offenses but was unable to ramp up its anti-trafficking efforts in 2014 because the government failed to provide law enforcement or protection agencies with operating budgets; victim protection efforts decreased in 2014, with significantly fewer victims identified; most child victims were referred to NGO-run facilities, but care for adults was lacking because the government did not provide any support to the country’s Human Trafficking Fund for victim services or its two shelters; anti-trafficking prevention measures increased modestly, including reconvening of the Human Trafficking Management Board, public awareness campaigns on child labor and trafficking, and anti-trafficking TV and radio programs (2015)
Illicit drugs:
illicit producer of cannabis for the international drug trade; major transit hub for Southwest and Southeast Asian heroin and, to a lesser extent, South American cocaine destined for Europe and the US; widespread crime and money-laundering problem, but the lack of a well-developed financial infrastructure limits the country's utility as a money-laundering center; significant domestic cocaine and cannabis use

Economic Indicators for Ghana including actual values, historical data, and latest data updates for the Ghana economy.