Ghana |
Quick Facts |
| Subject |
Unit |
Scale |
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
| Population |
Persons |
Millions |
18.412 |
18.883 |
19.366 |
19.861 |
20.368 |
20.889 |
21.423 |
| Gross domestic product, constant prices |
National currency |
Billions |
27,153 |
28,289 |
29,575 |
31,127 |
32,865 |
34,793 |
36,967 |
| Growth Rate Gross domestic product, constant prices |
Annual percent change |
|
3.7 |
4.2 |
4.5 |
5.2 |
5.6 |
5.9 |
6.2 |
| Gross domestic product, current prices |
National currency |
Billions |
27,153 |
38,071 |
48,862 |
66,158 |
79,888 |
97,261 |
118,404 |
| Gross domestic product, current prices |
U.S. dollars |
Billions |
4.977 |
5.309 |
6.16 |
7.624 |
8.872 |
10.72 |
12.894 |
| Inflation, consumer prices |
Index, 2000=100 |
|
100 |
132.906 |
152.596 |
193.304 |
217.717 |
250.621 |
277.971 |
| Inflation, consumer prices |
Annual percent change |
% |
25.2 |
32.9 |
14.8 |
26.7 |
12.6 |
15.1 |
10.9 |
| Current account balance |
U.S. dollars |
Billions |
-0.419 |
-0.283 |
0.03 |
0.127 |
-0.236 |
-0.751 |
-1.057 |
| Current account balance |
Percent of GDP |
|
-8.4 |
-5.3 |
0.5 |
1.7 |
-2.7 |
-7 |
-8.2 |
Source: World Economic Outlook. Database |
Ghana is currently one of the best-performing economies in
Africa. Economic growth has averaged 4.5 percent from 1983 through 2000, but accelerated to 5.9 percent in 2005 and 6.2 percent in 2006 in response to the government’s program of reforms.
Ghana offers great opportunities:
-
Rich mineral resources such as gold, diamonds, manganese, limestone, bauxite, iron ore as well as various clays and granite deposits.
-
Extensive forests which are arguably the best managed in West Africa.
-
Out of a total land area of 23 million hectares, 13 million hectares (57%) is suitable for agricultural production, and 5.3 million hectares (39%) of this is under cultivation.
-
Ghana is the second largest producer of cocoa in the world.
-
It is also the third largest producer of timber and the second largest exporter of wood and wood products in Africa.
- Rich marine fishing resources (tuna and game fishing)
- Beautiful landscape, inviting sunshine, pristine beaches, exotic wildlife and exciting national parks and game reserves
- A rich culture and tradition and a world acclaimed warmth and hospitality of its people
Greater transparency and accountability in government have contributed to making Ghana a more attractive market to foreign and local investors. For more details see the
AGI Rough Guide to Doing Business In Ghana
For more information on the investment climate see
AGI Guide on Investment Climate in Ghana
SECTOR DEVELOPMENTS
The growth of Services and Agriculture outpaces the Industry sector since more than a decade, as can be seen on the following chart:
Out of six selected sub-sectors the Construction Sector showed the best performance in recent years.
|
