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Ghana

Republic of Ghana

Last updated: 2026-03-28 (today)

Budget

note

note: 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.)

expenditures

$19.102 billion (2022 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2021

$23.901 billion (2021 est.)

Exports 2022

$25.52 billion (2022 est.)

Exports 2023

$25.365 billion (2023 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2021

$25.967 billion (2021 est.)

Imports 2022

$26.329 billion (2022 est.)

Imports 2023

$26.024 billion (2023 est.)

Industries

mining, lumbering, light manufacturing, aluminum smelting, food processing, cement, small commercial ship building, petroleum

Labor force

13.928 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

Public debt 2016

73.4% of GDP (2016 est.)

Remittances

note

note: 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.)

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.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$29.241 billion (2023 est.)

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

Unemployment rate

note

note: % 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.)

Exports - partners

Switzerland 24%, UAE 18%, India 8%, South Africa 7%, China 7% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 30%, Netherlands 8%, India 5%, USA 5%, Russia 5% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: 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.)

Real GDP growth rate

note

note: 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.)

Agricultural products

cassava, yams, plantains, maize, oil palm fruit, taro, rice, oranges, pineapples, cocoa beans (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

gold, crude petroleum, cocoa beans, manganese ore, cocoa paste (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, cars, plastics, plastic products, footwear (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

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.)

Taxes and other revenues

12.3% (of GDP) (2022 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$82.825 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

84.1% (2024 est.)

government consumption

4.8% (2024 est.)

investment in inventories

0.2% (2024 est.)

investment in fixed capital

9.8% (2024 est.)

exports of goods and services

35.3% (2024 est.)

imports of goods and services

-34.1% (2024 est.)

Population below poverty line

23.4% (2016 est.)

note: % of population with income below national poverty line

Average household expenditures

on food

39.1% of household expenditures (2023 est.)

on alcohol and tobacco

0.4% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

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.)

Industrial production growth rate

7.1% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: 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.)

Youth unemployment rate (ages 15-24)

male

5.5% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

5.4% (2024 est.)

female

5.3% (2024 est.)

Reserves of foreign exchange and gold

note

note: 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.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

28.8% (2024 est.)

services

43.9% (2024 est.)

agriculture

20.7% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

1.6% (2016 est.)

highest 10%

32.2% (2016 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2016

43.5 (2016 est.)