Ghana - Economic Forecasts - 2018-2020 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 Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 2.50 2 1.8 1.8 1.3 1.5 percent
Unemployment Rate 5.77 8.9 8.9 8.86 8.86 10 percent
Inflation Rate 11.80 9.5 9 8.9 8.9 7 percent
Interest Rate 20.00 20 20 20 20 16 percent
Balance of Trade -406.79 20.14 -47.41 -310 -896 -1209 USD Million
Government Debt to GDP 73.40 69.7 69.1 71.47 67 69 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 4.54
4.7 4.87 5.05 5.24 6.06
Stock Market 2871.31
points
2710 2647 2586 2526 2096
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 2.50
percent
2 1.8 1.8 1.3 1.5
GDP Annual Growth Rate 9.30
percent
7.5 7.1 6.8 6.8 5.6
GDP 42.69
USD Billion
46.4 46.7 46.88 46.88 48.1
GDP Constant Prices 9570.62
GHS Million
10813 10915 10975 11404 12987
Gross Fixed Capital Formation 23010.02
GHS Million
27378 27339 27300 27260 14190
GDP per capita 1707.70
USD
1707 1709 1712 1714 1677
GDP per capita PPP 3980.20
USD
3990 4005 4010 4013 4250
GDP From Agriculture 7790.18
GHS Million
7743 7814 7884 7955 7650
GDP From Construction 3036.96
GHS Million
3185 3010 3120 3140 3320
GDP From Manufacturing 2451.89
2490 2500 2505 2512 2700
GDP From Mining 2375.07
GHS Million
2810 2815 2817 2820 2950
GDP From Services 18746.84
GHS Million
18843 19000 19156 19312 19656
GDP From Transport 3837.80
GHS Million
3772 3774 3777 3779 3441
GDP From Utilities 308.38
GHS Million
308 304 301 298 284
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 5.77
percent
8.9 8.9 8.86 8.86 10
Population 28.21
Million
28.9 29.1 29.6 29.6 30.74
Living Wage Family 1700.00
GHS/Month
1750 1750 1750 1750 1850
Living Wage Individual 660.00
GHS/Month
660 660 660 500 630
Wages High Skilled 1950.00
GHS/Month
2000 2000 2145 2145 2550
Wages Low Skilled 588.00
GHS/Month
640 646 646 646 990
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 11.80
percent
9.5 9 8.9 8.9 7
Consumer Price Index CPI 207.20
Index Points
212 218 219 222 256
Producer Prices 569.70
Index Points
601 593 607 601 675
Food Inflation 8.00
percent
7.64 7.51 7.51 7.8 7.53
Inflation Rate Mom 1.00
percent
0.6 0.9 0.5 0.8 0.7
Producer Prices Change 7.10
percent
7.5 7.1 6.9 6.4 5.9
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 20.00
percent
20 20 20 20 16
Foreign Exchange Reserves 6938.50
USD Million
6905 6849 6789 6730 6097
Banks Balance Sheet 81374.98
GHS Million
73802 71659 70008 78038 85747
Deposit Interest Rate 13.30
percent
13.85 14.04 14.22 14.41 16.24
Central Bank Balance Sheet 55526.64
GHS Million
54124 53522 52922 45110 46110
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade -406.79
USD Million
20.14 -47.41 -310 -896 -1209
Exports 2834.11
USD Million
3230 3096 3030 3120 3590
Imports 3240.90
USD Million
3294 3236 3252 4016 4799
Current Account -1009.51
USD Million
-436 -566 -634 -1123 -945
Current Account to GDP -3.90
percent
-4.8 -4.7 -4.6 -4.6 -4.3
Capital Flows 1832.34
USD Million
-372 1666 258 2132 2318
Gold Reserves 8.74
Tonnes
8.73 8.73 8.73 8.71 8.76
Terrorism Index 0.33
0.35 0.35 0.35 0.35 0.25
Crude Oil Production 130.00
BBL/D/1K
175 175 180 180 187
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 73.40
percent
69.7 69.1 71.47 67 69
Government Budget -8.70
percent of GDP
-6.3 -5.8 -5 -4.5 -8.68
Government Revenues 3189.43
GHS Million
2882 2849 2819 2790 2596
Military Expenditure 146.20
USD Million
161 155 149 143 74.32
Government Spending 4604.08
GHS Million
3237 3237 3237 3258 4024
Government Budget Value -1841.80
GHS Million
-785 -811 -803 -764 -777
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Internet Speed 3367.55
KBps
3631 3624 3536 3492 2881
IP Addresses 124915.00
IP
-19344 -19320 -8349 9278 119508
Leading Economic Index 3.20
percent
3.8 4.1 4.3 4.7 4.98
Ease of Doing Business 120.00
118 119 117 118 92
Corruption Index 43.00
Points
45 44 43 43 38
Corruption Rank 70.00
71 73 73 74 75
Competitiveness Index 3.72
Points
3.65 3.65 3.65 3.72 3.82
Competitiveness Rank 111.00
111 111 111 111 118
Composite Pmi 53.50
55.35 55.35 55.35 55.35 55.35
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Household Spending 23.00
percent
22.96 19.57 16.18 26.5 28.74
Gasoline Prices 0.99
USD/Liter
0.98 0.98 0.98 0.97 0.95
Bank Lending Rate 35.50
percent
35.5 34.78 34.55 34.33 32.38
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 25.00
percent
25 25 25 25 27
Personal Income Tax Rate 25.00
percent
25 25 25 25 25
Sales Tax Rate 15.00
percent
15 15 15 15 15
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Precipitation 0.74
mm
37.51 148 150 64.88 102
Temperature 26.65
celsius
28.05 27.4 25.11 26.55 27.38