Key economic indicators of Ghana- statistics & facts
Ghana is one of the leading economies in the African region. In 2021, it was the eighth largest economy in terms of its GDP, which reached 73.36 billion U.S. dollars that year. The nation's GDP per capita was estimated at nearly 2.3 thousand U.S. dollars in 2022 and is expected to reach over 2.5 thousand U.S. dollars by 2025.
Ghana's account balance had a deficit of over 672 million U.S. dollars as of the fourth quarter of 2021. As of the same quarter, the central government's balance of payments, which measures all transactions completed with other world regions, reached a deficit of approximately 1.2 billion U.S. dollars. Moreover, income generated by the country at the end of March 2022 represented only 1.3 percent of its GDP. Considering that adjustments were made for inflation in the country, the real GDP was projected to grow from 5.2 percent in 2022 to 5.1 percent in 2023. Likewise, considering the impact of the coronavirus (COVID-19) pandemic on the Ghanaian economy, real GDP growth was estimated to reach 5.1 percent in 2023.
The services sector has been the leading economic area in Ghana since 2009, accounting for around 45 percent of the country's GDP in 2020. As of 2019, export of services from the country added up to around 8.8 billion U.S. dollars, while its imports amounted to 10.69 billion U.S. dollars. On the other hand, while goods imported into the country reached a value of 12.43 billion U.S. dollars in 2020, those exported amounted to 14.47 billion U.S. dollars in the same year.
Overall, as of the fourth quarter of 2021, the preliminary balance of payments on exports of gold, timber, cocoa beans, and crude oil in the country stood at about 1.2 billion, 35.4 million, 552 million, and 1.2 billion U.S. dollars, respectively.
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