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 Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 2.10 1.8 1.8 1.3 1.8 1.5 percent
Unemployment Rate 5.77 6 6 6 7 10 percent
Inflation Rate 9.60 9 8.9 8.9 8 7 percent
Interest Rate 17.00 17 17 17 17 16 percent
Balance of Trade 409.80 -63.73 -63.73 -896 -63.73 -1209 USD Million
Government Debt to GDP 70.50 69.1 69.1 67 77 69 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Currency 4.65
4.55 4.7 4.84 5 5.65
Stock Market 3309.63
points
3290 3210 3132 3055 2768
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 2.10
percent
1.8 1.8 1.3 1.8 1.5
GDP Annual Growth Rate 8.10
percent
7.1 7.9 8.3 7.9 5.6
GDP 42.69
USD Billion
46.7 46.88 46.88 47.4 48.1
GDP Constant Prices 9792.98
GHS Million
9684 9970 10606 9887 12017
Gross Fixed Capital Formation 23010.02
GHS Million
23827 23919 26789 24828 30354
GDP per capita 1707.70
USD
1714 1745 1720 1756 1763
GDP per capita PPP 3980.20
USD
4005 4010 4013 4120 4250
GDP From Agriculture 8441.00
GHS Million
8067 8098 9142 8406 10358
GDP From Construction 3175.00
GHS Million
3145 3157 3439 3277 3896
GDP From Manufacturing 2543.00
GHS Million
2539 2549 2754 2646 3121
GDP From Mining 3606.00
GHS Million
2545 2555 3905 2652 4425
GDP From Services 19554.00
GHS Million
19412 19487 21177 20228 23995
GDP From Transport 3853.00
GHS Million
3974 3989 4173 4141 4728
GDP From Utilities 329.00
GHS Million
319 321 356 333 404
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 5.77
percent
6 6 6 7 10
Population 28.21
Million
29.1 28.68 29.6 29 31.41
Living Wage Family 1700.00
GHS/Month
1750 1750 1750 1800 1850
Living Wage Individual 660.00
GHS/Month
660 660 500 660 630
Wages High Skilled 1950.00
GHS/Month
2145 2145 2145 2000 2200
Wages Low Skilled 588.00
GHS/Month
646 646 646 800 700
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 9.60
percent
9 8.9 8.9 8 7
Consumer Price Index CPI 216.00
Index Points
218 219 226 231 261
Producer Prices 585.10
Index Points
564 578 584 589 620
Food Inflation 7.40
percent
7.47 7.53 7.8 7.5 7.5
Inflation Rate Mom 0.90
percent
0.9 0.5 0.8 1.02 0.7
Producer Prices Change 6.40
percent
2 1.8 1.6 1.7 4
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Interest Rate 17.00
percent
17 17 17 17 16
Foreign Exchange Reserves 6941.95
USD Million
7026 6995 7000 7000 7000
Banks Balance Sheet 93249.13
GHS Million
100518 104254 78038 111652 85747
Deposit Interest Rate 13.30
percent
10.3 10.3 10.3 10.3 9.3
Central Bank Balance Sheet 56750.68
GHS Million
56277 56306 45110 56369 46110
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade 409.80
USD Million
-63.73 -63.73 -896 -63.73 -1209
Exports 3747.50
USD Million
3070 3070 3120 3070 3590
Imports 3337.70
USD Million
3134 3134 4016 3134 4799
Current Account -930.49
USD Million
-692 -789 -1123 -732 -945
Current Account to GDP -3.90
percent
-4.7 -4.7 -4.6 -4.5 -4.3
Capital Flows 40.23
USD Million
795 783 2132 785 2318
Gold Reserves 8.70
Tonnes
8.7 8.7 8.71 8.72 8.76
Terrorism Index 0.33
0.35 0.35 0.35 0.52 0.25
Crude Oil Production 178.00
BBL/D/1K
175 180 180 154 187
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 70.50
percent
69.1 69.1 67 77 69
Government Budget -4.50
percent of GDP
-5.8 -5 -4.5 -9.04 -8.47
Government Revenues 3378.90
GHS Million
2944 3337 2622 2341 2996
Military Expenditure 185.80
USD Million
153 148 143 132 53.41
Government Spending 4469.08
GHS Million
4768 4646 9804 3849 11109
Government Budget Value -499.63
GHS Million
-744 -744 -764 -744 -777
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Internet Speed 3367.55
KBps
3942 3944 3984 4009 4055
IP Addresses 124915.00
IP
36545 37460 29407 32023 25756
Leading Economic Index 2.30
percent
4.1 4.3 4.7 4.3 4.33
Ease of Doing Business 120.00
119 117 118 120 92
Corruption Index 40.00
Points
40 40 40 40 40
Corruption Rank 81.00
73 73 74 81 75
Competitiveness Index 3.72
Points
3.7 3.7 3.72 3.7 3.82
Competitiveness Rank 111.00
112 112 111 112 118
Composite Pmi 54.50
55.25 54.28 53.7 56.29 53.97
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Household Spending 23.00
percent
19.57 16.18 26.5 18.09 28.74
Gasoline Prices 1.02
USD/Liter
0.96 0.91 0.86 0.81 0.56
Bank Lending Rate 35.50
percent
32.5 32.5 32.5 32.5 31.5
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 25.00
percent
25 25 25 25 25
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 Q2/18 Q3/18 Q4/18 Q1/19 2020
Precipitation 0.74
mm
148 150 64.88 37.58 102
Temperature 26.65
celsius
27.4 25.11 26.55 28.11 27.38