Ghana | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Ghana including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Ghana economy.


Overview Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 1.50 1.5 1.01 1.01 1.13 1.5 percent [+]
Unemployment Rate 5.20 8.9 8.9 8.9 8.9 10 percent [+]
Inflation Rate 12.30 11.9 11.8 11.2 11 9 percent [+]
Interest Rate 21.00 20.5 19.5 18 16 14 percent [+]
Balance of Trade 393.10 -850 -570 969 583 -1209 USD Million [+]
Government Debt to GDP 73.90 75 75 81 81 69 percent [+]
MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Currency 4.38 4.39 4.34 4.3 4.25 3.77 [+]
Stock Market 2291.33 1940 1920 1900 1880 1670 points [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 1.50 1.5 1.01 1.01 1.13 1.5 percent [+]
GDP Annual Growth Rate 6.60 6.3 5.7 6.3 4.8 4.9 percent [+]
GDP 42.69 40 40 46.98 47 46.78 USD Billion [+]
GDP Constant Prices 9136.26 9100 9030 9125 9128 9540 GHS Million [+]
Gross Fixed Capital Formation 23010.02 27300 27260 25666 24072 14190 GHS Million [+]
GDP per capita 1707.70 1716 1719 1723 1726 1749 USD [+]
GDP per capita PPP 3980.20 3991 3987 3992 3998 4024 USD [+]
GDP From Agriculture 7790.18 7961 8017 8073 8130 8696 GHS Million [+]
GDP From Construction 3036.96 3103 3082 3086 3090 3205 GHS Million [+]
GDP From Manufacturing 2451.89 2626 2667 2715 2763 2897 [+]
GDP From Mining 2375.07 2105 2017 1926 1835 1130 GHS Million [+]
GDP From Services 18746.84 19486 19769 20015 20261 22689 GHS Million [+]
GDP From Transport 3837.80 3873 3889 3895 3902 3937 GHS Million [+]
GDP From Utilities 308.38 311 310 310 310 309 GHS Million [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 5.20 8.9 8.9 8.9 8.9 10 percent [+]
Job Vacancies 1577.00 1697 1605 1692 1613 1633 [+]
Population 28.21 27.5 28 28 28 30.34 Million [+]
Wages High Skilled 1830.00 2000 2100 1508 1489 2550 GHS/Month [+]
Wages Low Skilled 534.00 630 680 452 448 990 GHS/Month [+]
Living Wage Family 1407.20 1580 1620 1378 1378 1800 GHS/Month [+]
Living Wage Individual 748.50 350 430 787 789 630 GHS/Month [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate 12.30 11.9 11.8 11.2 11 9 percent [+]
Consumer Price Index CPI 201.30 216 220 206 206 364 Index Points [+]
Producer Prices 552.40 588 620 553 553 830 Index Points [+]
Food Inflation 7.40 7.4 7.6 7.44 7.44 7.44 percent [+]
Producer Prices Change 2.00 10.6 11 2.02 2.02 9.5 percent [+]
Inflation Rate Mom -0.20 1.2 1.2 1.18 1.16 1.3 percent [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate 21.00 20.5 19.5 18 16 14 percent [+]
Foreign Exchange Reserves 7842.05 7530 7609 7589 7594 7593 USD Million [+]
Banks Balance Sheet 85759.02 73700 74094 89719 90241 85747 GHS Million [+]
Deposit Interest Rate 13.30 13.23 13.53 13.58 13.62 13.87 percent [+]
Central Bank Balance Sheet 60568.16 43581 44107 61693 61678 46110 GHS Million [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade 393.10 -850 -570 969 583 -1209 USD Million [+]
Exports 3179.70 2550 3030 3946 3511 3590 USD Million [+]
Imports 2974.47 3400 3600 2824 2764 4799 USD Million [+]
Current Account 316.85 -780 -998 -222 -280 -945 USD Million [+]
Current Account to GDP -3.90 -5 -5 -5.5 -5.5 -4.1 percent [+]
Capital Flows -523.43 826 1893 -184 25.25 2318 USD Million [+]
Gold Reserves 8.74 8.7 8.7 8.72 8.72 8.76 Tonnes [+]
Terrorism Index 0.35 0.13 0.07 0.05 0.03 0.08 [+]
Crude Oil Production 165.00 167 167 167 167 167 BBL/D/1K [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 73.90 75 75 81 81 69 percent [+]
Government Budget -8.70 -7.8 -7.8 -9.04 -9.28 -8.87 percent of GDP [+]
Government Revenues 2849.40 2864 2874 2875 2875 2875 GHS Million [+]
Government Spending 3567.30 3581 3788 3579 3579 4024 GHS Million [+]
Government Budget Value 225.31 -816 -965 -913 -937 -777 GHS Million [+]
Military Expenditure 146.20 193 204 187 169 170 USD Million [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Leading Economic Index 3.10 4.35 4.66 4.55 4.82 5.04 percent [+]
Ease of Doing Business 108.00 110 110 90 81 92 [+]
Corruption Index 43.00 44 44 44 43 44 Points [+]
Corruption Rank 70.00 60 59 61 62 63 [+]
Competitiveness Index 3.68 3.68 3.68 3.61 3.6 3.82 Points [+]
Competitiveness Rank 114.00 114 114 118 118 118 [+]
CONSUMER Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Household Spending 23.15 25 25 12.96 11.01 28.74 percent [+]
Gasoline Prices 0.93 0.92 0.92 0.92 0.91 0.89 USD/Liter [+]
Bank Lending Rate 35.50 44.3 45 36.32 36.32 36.32 percent [+]
HOUSING Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Home Ownership Rate 47.20 47.2 47.2 47.2 47.2 47.2 percent [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Corporate Tax Rate 25.00 25 25 25 25 25 percent [+]
Personal Income Tax Rate 25.00 25 25 25 25 25 percent [+]
Sales Tax Rate 15.00 15 15 15 15 15 percent [+]