Economy - overview:
Ghana's economy was strengthened by a quarter century of relatively sound management, a competitive business environment, and sustained reductions in poverty levels, but in recent years has suffered the consequences of loose fiscal policy, high budget and current account deficits, and a depreciating currency. Ghana has a market-based economy with relatively few policy barriers to trade and investment in comparison with other countries in the region, and Ghana is well-endowed with natural resources.Agriculture accounts for nearly one-quarter of GDP and employs more than half of the workforce, mainly small landholders. The services sector accounts for about half of GDP. Gold and cocoa exports, and individual remittances, are major sources of foreign exchange. Expansion of Ghana’s nascent oil industry has boosted economic growth, but the recent oil price crash has reduced by half Ghana’s 2015 anticipated oil revenue. Production at Jubilee, Ghana's offshore oil field, began in mid-December 2010 and currently produces roughly 110,000 barrels per day. The country’s first gas processing plant at Atubao is also producing natural gas from the Jubilee field, providing power to several of Ghana’s thermal power plants.As of 2015, the biggest single economic issue facing Ghana is the lack of consistent electricity. While the MAHAMA administration is taking steps to improve the situation, little progress has been made. Ghana signed a $920 million extended credit facility with the IMF in April 2015 to help it address its growing economic crisis. The IMF fiscal targets will require Ghana to reduce the fiscal deficit by cutting subsidies, decreasing the bloated public sector wage bill, strengthening revenue administration, and increasing revenues. The challenge for Ghana will come as the MAHAMA Administration approaches the 2016 election cycle facing public dissatisfaction in the midst of economic austerity.

GDP (purchasing power parity):
$113.3 billion (2015 est.) $109.5 billion (2014 est.) $105.3 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 81
[see also: GDP country ranks ]

GDP (official exchange rate):
$37.68 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.5% (2015 est.) 4% (2014 est.) 7.3% (2013 est.)
country comparison to the world: 74
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$4,300 (2015 est.) $4,200 (2014 est.) $4,000 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 175
[see also: GDP - per capita country ranks ]

Gross national saving:
15.4% of GDP (2015 est.) 15.2% of GDP (2014 est.) 13.5% of GDP (2013 est.)
country comparison to the world: 117
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 65.4%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 18%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 26.2%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.9%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 35%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -45.5% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 20.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 27.7%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 51.6% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cocoa, rice, cassava (manioc, tapioca), peanuts, corn, shea nuts, bananas; timber

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

Industrial production growth rate:
4.5% (2015 est.)
country comparison to the world: 41
[see also: Industrial production growth rate country ranks ]

Labor force:
11.54 million (2015 est.)
country comparison to the world: 51
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 44.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 14.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 40.9% (2013 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
5.2% (2013 est.)
country comparison to the world: 55
[see also: Unemployment rate country ranks ]

Population below poverty line:
24.2% (2013 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
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 ]

Distribution of family income - Gini index:
42.3 (2012-13) 41.9 (2005-06)
country comparison to the world: 53
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $8.123 billion
[see also: Budget revenues country ranks ]
expenditures: $10.83 billion (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
21.6% of GDP (2015 est.)
country comparison to the world: 146
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-7.2% of GDP (2015 est.)
country comparison to the world: 193
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
76% of GDP (2015 est.) 70.9% of GDP (2014 est.)
country comparison to the world: 36
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
16.9% (2015 est.) 15.5% (2014 est.)
country comparison to the world: 218
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
21% (31 December 2014) 16% (31 December 2013)
country comparison to the world: 4
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
28.9% (31 December 2015 est.) 27% (31 December 2014 est.)
country comparison to the world: 5
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$5.751 billion (31 December 2015 est.) $5.64 billion (31 December 2014 est.)
country comparison to the world: 94
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$12.2 billion (31 December 2015 est.) $11.69 billion (31 December 2014 est.)
country comparison to the world: 103
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$12.91 billion (31 December 2015 est.) $13.82 billion (31 December 2014 est.)
country comparison to the world: 97
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$3.465 billion (31 December 2012 est.) $3.097 billion (31 December 2011) $3.531 billion (31 December 2010 est.)
country comparison to the world: 93
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$3.139 billion (2015 est.) -$3.698 billion (2014 est.)
country comparison to the world: 159
[see also: Current account balance country ranks ]

Exports:
$10.75 billion (2015 est.) $13.22 billion (2014 est.)
country comparison to the world: 86
[see also: Exports country ranks ]

Exports - commodities:
oil, gold, cocoa, timber, tuna, bauxite, aluminum, manganese ore, diamonds, horticultural products

Exports - partners:
China 10.7%, France 9%, Netherlands 7.3%, India 7.3%, South Africa 6.6%, Italy 6.5% (2014)

Imports:
$13.42 billion (2015 est.) $14.57 billion (2014 est.)
country comparison to the world: 88
[see also: Imports country ranks ]

Imports - commodities:
capital equipment, refined petroleum, foodstuffs

Imports - partners:
China 25.5%, Nigeria 13.1%, Netherlands 8.2%, Cote d'Ivoire 7.2%, US 6.9%, India 4.1% (2014)

Reserves of foreign exchange and gold:
$5.617 billion (31 December 2015 est.) $5.324 billion (31 December 2014 est.)
country comparison to the world: 91
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$17.2 billion (31 December 2014 est.) $15.83 billion (31 December 2013 est.)
country comparison to the world: 92
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$19.85 billion (31 December 2013 est.) $118 million (31 December 2012 est.)
country comparison to the world: 77
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$16.62 billion (31 December 2013 est.) $109 million (31 December 2012 est.)
country comparison to the world: 55
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
cedis (GHC) per US dollar - 3.73 (2015 est.) 2.9 (2014 est.) 2.9 (2013 est.) 1.8 (2012 est.) 1.51 (2011 est.)