Ghana


Ghana Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Ghana; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Bank of Ghana
International Reserves US$ 5.914 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 42.09 billion (2010 estimate)
GDP (Purchasing Power Parity) 82.571 billion of International dollars (2010 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
4.2% 4.5% 5.2% 5.6% 5.9% 6.4% 5.7% 8.4%
2009 2010 2011 2012*
4% 7.7% 13.6% 8.8%

*Estimate

GDP per capita - current prices US$ 1,689 (2010 estimate)
GDP per capita - PPP $3,313 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.04% 0.04% 0.04% 0.09% 0.11%

**Forecast

GDP - composition by sector
  • agriculture: 28.3% 
  • industry: 21% 
  • services: 50.7% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
19.3%(2008) 10.7% 8.7% 9.6%

*Estimate

Unemployment rate
2009 2010 2011 2012*
N/A N/A N/A(2009) N/A

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
33.6% 36.2% 46.1% 43.4% 42.1%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-8.5% -5.8% -7.2% -4.3% -4.9%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: B

Moody's rating: N/A

Moody's outlook: N/A

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$2.508 billion US$3.531 billion US$3.097 billion
Largest companies in Ghana N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -2.9 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP -6.9% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

29.3% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.07%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.04% (2011)(2007)

(Data were released in 2012)

Total exports US$13.58 billion (2012 estimate) 
Export commodities oil, gold, cocoa, timber, tuna, bauxite, aluminum, manganese ore, diamonds, horticultural products
Total imports US$17.52 billion (2012 estimate) 
Import commodities capital equipment, petroleum, foodstuffs
Exports - major partners France 19.5%, Netherlands 10.4%, US 8.8%, Italy 8.3%, UK 4.8% (2011)
Imports - major partners China 20.5%, Nigeria 12.4%, US 7.8%, India 5.1%, Netherlands 5.1%, UK 4.2% (2011)
FDI inflows
2009 2010 2011
US$1,685 million US$2,527 million(2009) US$3,222 million(2009)
FDI outflows
2009 2010 2011
US$7 million US$8 million US$8 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
N/A N/A(2009) US$1 million(2009) N/A
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 64 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 112 out of 185 countries(2009)

Enforcing Contracts: 48 out of 185 countries

Registering Property: 45 out of 185 countries

Getting credit: 23 out of 185 countries

Protecting investors: 49 out of 185 countries

Trading across border: 99 out of 185 countries

Paying Taxes: 89 out of 185 countries

Dealing with Construction Permits: 162 out of 185 countries

Getting Electricity: 63 out of 185 countries

Resolving Insolvency: 114 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
103

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 84 Score: 60.7 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC 0
Total area 238,533 km2 (2006)
Capital Accra (2009)
Currency cedis (GHC) (2009)
Government type constitutional democracy (2009)
Languages Asante 14.8%, Ewe 12.7%, Fante 9.9%, Boron (Brong) 4.6%, Dagomba 4.3%, Dangme 4.3%, Dagarte (Dagaba) 3.7%, Akyem 3.4%, Ga 3.4%, Akuapem 2.9%, other 36.1% (includes English (official)) (2000 census)
Religions Christian 68.8% (Pentecostal/Charismatic 24.1%, Protestant 18.6%, Catholic 15.1%, other 11%), Muslim 15.9%, traditional 8.5%, other 0.7%, none 6.1% (2000 census)
Total population
1980 1990 2000 2012* 2017**
10.02 million 14.31 million 18.41 million 24.93 million 28.28 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
23.3% 31.2% 44% 51.9%
Population median age 20 years (2010)
Population growth rate 2.3% (2011)
Life expectancy 64 years (2010)
Adult literacy 67% (2005/2010)
% of population living on less than $2 a day 53.61% (2011)
Inequality of wealth distribution (Gini index)

42.76 (2006)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:2 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

85.92% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 14.11% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Accra: 86th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

0.3125 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS Ghana Commercial Bank (National, 2013)

WORLD'S BEST INTERNET BANKS

2010:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Standard Chartered (National, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Standard Chartered (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Ghana Commercial Bank (Europe, 2012)
2011:
  • COUNTRY WINNERS Ghana Commercial Bank (National, 2011)
2010:
  • COUNTRY WINNERS Ghana Commercial Bank (National, 2010)
2009:
  • COUNTRY WINNERS Ghana Commercial Bank (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE