Economy - overview:
Ghana's economy has been strengthened by a quarter century of relatively sound management, a competitive business environment, and sustained reductions in poverty levels. Ghana is well endowed with natural resources and agriculture accounts for roughly one-quarter of GDP and employs more than half of the workforce, mainly small landholders. The services sector accounts for 50% of GDP. Gold and cocoa production and individual remittances are major sources of foreign exchange. Oil production at Ghana's offshore Jubilee field began in mid-December, 2010, and is expected to boost economic growth. President Mills faces challenges in managing new oil revenue while maintaining fiscal discipline and resisting debt accumulation. Estimated oil reserves have jumped to almost 700 million barrels . Ghana signed a Millennium Challenge Corporation (MCC) Compact in 2006, which aims to assist in transforming Ghana's agricultural sector. Ghana opted for debt relief under the Heavily Indebted Poor Country (HIPC) program in 2002, and is also benefiting from the Multilateral Debt Relief Initiative that took effect in 2006. In 2009 Ghana signed a three-year Poverty Reduction and Growth Facility with the IMF to improve macroeconomic stability, private sector competitiveness, human resource development, and good governance and civic responsibility. Sound macro-economic management along with high prices for gold and cocoa helped sustain GDP growth in 2008-11.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Ghana on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Ghana Economy 2012 information contained here. All suggestions for corrections of any errors about Ghana Economy 2012 should be addressed to the CIA.
$74.77 billion (2011 est.)
country comparison to the world: 81
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$38.6 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
13.5% (2011 est.)
country comparison to the world: 2
[see also: GDP - real growth rate country ranks ]
$3,100 (2011 est.)
country comparison to the world: 168
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 28.3%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 21%
[see also: GDP - composition by sector - industry country ranks ]
services: 50.7% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
10.77 million (2011 est.)
country comparison to the world: 49
[see also: Labor force country ranks ]
agriculture: 56%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 15%
[see also: Labor force - by occupation - industry country ranks ]
services: 29% (2005 est.)
[see also: Labor force - by occupation - services country ranks ]
11% (2000 est.)
country comparison to the world: 119
[see also: Unemployment rate country ranks ]
28.5% (2007 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 32.8% (2006)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
39.4 (2005-06)
country comparison to the world: 68
[see also: Distribution of family income - Gini index country ranks ]
20.1% of GDP (2011 est.)
country comparison to the world: 116
[see also: Investment (gross fixed) country ranks ]
revenues: $7.358 billion
[see also: Budget revenues country ranks ]
expenditures: $9.431 billion (2011 est.)
[see also: Budget expenditures country ranks ]
19.1% of GDP (2011 est.)
country comparison to the world: 165
[see also: Taxes and other revenues country ranks ]
-5.4% of GDP (2011 est.)
country comparison to the world: 159
[see also: Budget surplus (+) or deficit (-) country ranks ]
38.7% of GDP (2011 est.)
country comparison to the world: 77
[see also: Public debt country ranks ]
8.8% (2011 est.)
country comparison to the world: 180
[see also: Inflation rate (consumer prices) country ranks ]
18% (31 December 2009)
country comparison to the world: 10
[see also: Central bank discount rate country ranks ]
20.6% (31 December 2011 est.)
country comparison to the world: 12
[see also: Commercial bank prime lending rate country ranks ]
$9.33 billion (31 December 2011 est.)
country comparison to the world: 75
[see also: Stock of narrow money country ranks ]
$14.37 billion (31 December 2011 est.)
country comparison to the world: 94
[see also: Stock of broad money country ranks ]
$10.25 billion (31 December 2011 est.)
country comparison to the world: 97
[see also: Stock of domestic credit country ranks ]
$3.531 billion (31 December 2010)
country comparison to the world: 92
[see also: Market value of publicly traded shares country ranks ]
cocoa, rice, cassava (tapioca), peanuts, corn, shea nuts, bananas; timber
mining, lumbering, light manufacturing, aluminum smelting, food processing, cement, small commercial ship building
5% (2010 est.)
country comparison to the world: 70
[see also: Industrial production growth rate country ranks ]
8.167 billion kWh (2008 est.)
country comparison to the world: 97
[see also: Electricity - production country ranks ]
6.06 billion kWh (2008 est.)
country comparison to the world: 106
[see also: Electricity - consumption country ranks ]
538 million kWh (2008 est.)
[see also: Electricity - exports country ranks ]
263 million kWh (2008 est.)
[see also: Electricity - imports country ranks ]
8,880 bbl/day (2010 est.)
country comparison to the world: 87
[see also: Oil - production country ranks ]
60,000 bbl/day (2010 est.)
country comparison to the world: 96
[see also: Oil - consumption country ranks ]
5,752 bbl/day (2009 est.)
country comparison to the world: 102
[see also: Oil - exports country ranks ]
68,830 bbl/day (2009 est.)
country comparison to the world: 81
[see also: Oil - imports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 187
[see also: Natural gas - production country ranks ]
0 cu m (2009 est.)
country comparison to the world: 181
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 104
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 196
[see also: Natural gas - imports country ranks ]
22.65 billion cu m (1 January 2011 est.)
country comparison to the world: 75
[see also: Natural gas - proved reserves country ranks ]
-$1.438 billion (2011 est.)
country comparison to the world: 148
[see also: Current account balance country ranks ]
$13.13 billion (2011 est.)
country comparison to the world: 84
[see also: Exports country ranks ]
gold, cocoa, timber, tuna, bauxite, aluminum, manganese ore, diamonds, horticulture
Netherlands 11.7%, UK 7%, France 5.7%, US 5.6%, Ukraine 5%, Belgium 4.6% (2010)
$14.03 billion (2011 est.)
country comparison to the world: 85
[see also: Imports country ranks ]
capital equipment, petroleum, foodstuffs
China 16.6%, Nigeria 12.7%, US 8.4%, Cote dIvoire 6.2%, UK 4.5%, France 4.2% (2010)
$5.671 billion (31 December 2011 est.)
country comparison to the world: 83
[see also: Reserves of foreign exchange and gold country ranks ]
$7.779 billion (31 December 2011 est.)
country comparison to the world: 100
[see also: Debt - external country ranks ]
$NA
[see also: Stock of direct foreign investment - at home country ranks ]
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]
cedis (GHC) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12