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 Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 2.00 1.9 1.8 1.8 1.8 1.5 percent [+]
Unemployment Rate 5.77 8.9 8.9 8.9 6.45 10 percent [+]
Inflation Rate 11.60 8.9 8.9 8.9 8.9 9 percent [+]
Interest Rate 21.00 21 21 21 21 14 percent [+]
Balance of Trade -406.79 -570 138 97.13 -106 -1209 USD Million [+]
Government Debt to GDP 73.90 75 81 81 68.77 69 percent [+]
MARKETS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Currency 4.62 4.34 4.29 4.25 4.2 3.72 [+]
Stock Market 2553.14 2260 2240 2220 2200 1940 points [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 2.00 1.9 1.8 1.8 1.8 1.5 percent [+]
GDP Annual Growth Rate 9.00 7.9 7.5 7.1 6.8 4.9 percent [+]
GDP 42.69 40 41.6 41.4 41.2 46.78 USD Billion [+]
GDP Constant Prices 9341.19 9030 12772 13882 14968 9540 GHS Million [+]
Gross Fixed Capital Formation 23010.02 27260 25666 24072 22478 14190 GHS Million [+]
GDP per capita 1707.70 1714 1713 1712 1711 1677 USD [+]
GDP per capita PPP 3980.20 3982 3978 3973 3969 3874 USD [+]
GDP From Agriculture 7790.18 7955 7956 7958 7959 7650 GHS Million [+]
GDP From Construction 3036.96 2911 2841 2772 2702 2271 GHS Million [+]
GDP From Manufacturing 2451.89 2397 2374 2352 2330 2180 [+]
GDP From Mining 2375.07 2271 2248 2225 2202 2028 GHS Million [+]
GDP From Services 18746.84 19312 19398 19483 19569 19656 GHS Million [+]
GDP From Transport 3837.80 3779 3748 3718 3687 3441 GHS Million [+]
GDP From Utilities 308.38 298 300 302 304 284 GHS Million [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 5.77 8.9 8.9 8.9 6.45 10 percent [+]
Population 28.21 28 28 28 29.32 30.74 Million [+]
Living Wage Family 1700.00 1620 1700 1700 1700 1800 GHS/Month [+]
Living Wage Individual 660.00 430 660 660 660 630 GHS/Month [+]
Wages High Skilled 1950.00 2100 1819 1814 1808 2550 GHS/Month [+]
Wages Low Skilled 588.00 680 551 553 556 990 GHS/Month [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate 11.60 8.9 8.9 8.9 8.9 9 percent [+]
Consumer Price Index CPI 203.20 220 206 207 207 364 Index Points [+]
Producer Prices 567.70 620 575 575 573 830 Index Points [+]
Food Inflation 8.20 7.6 7.62 7.5 7.51 7.53 percent [+]
Inflation Rate Mom 0.90 1.22 1.42 1.29 1.24 1.3 percent [+]
Producer Prices Change 8.20 7 7.5 7.1 6.9 5.9 percent [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate 21.00 21 21 21 21 14 percent [+]
Foreign Exchange Reserves 6850.69 7146 7066 7010 6952 6467 USD Million [+]
Banks Balance Sheet 81374.98 74094 92413 93345 93878 85747 GHS Million [+]
Deposit Interest Rate 13.30 14.41 14.57 14.74 14.9 16.24 percent [+]
Central Bank Balance Sheet 54449.59 44107 51826 51062 50371 46110 GHS Million [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade -406.79 -570 138 97.13 -106 -1209 USD Million [+]
Exports 2834.11 3030 3300 3187 3153 3590 USD Million [+]
Imports 3240.90 3600 2716 2700 2689 4799 USD Million [+]
Current Account -1009.51 -998 -312 -384 -397 -945 USD Million [+]
Current Account to GDP -3.90 -5 -5.5 -5.5 -4.39 -4.1 percent [+]
Capital Flows 1832.34 1893 -348 1661 261 2318 USD Million [+]
Gold Reserves 8.74 8.7 8.72 8.73 8.73 8.76 Tonnes [+]
Terrorism Index 0.33 0.07 0.05 0.03 0.01 0.08 [+]
Crude Oil Production 170.00 167 166 165 164 154 BBL/D/1K [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Debt to GDP 73.90 75 81 81 68.77 69 percent [+]
Government Budget -8.70 -7.8 -6.3 -5.8 -5 -8.68 percent of GDP [+]
Government Revenues 3189.43 2929 2882 2849 2819 2596 GHS Million [+]
Military Expenditure 146.20 143 134 124 115 74.32 USD Million [+]
Government Spending 4604.08 3788 3237 3237 3237 4024 GHS Million [+]
Government Budget Value -1841.80 -965 -785 -811 -803 -777 GHS Million [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Internet Speed 3367.55 3610 3631 3624 3536 2881 KBps [+]
IP Addresses 124915.00 -5583 -19344 -19320 -8349 119508 IP [+]
Leading Economic Index 3.20 4.99 4.68 5.02 4.96 5.12 percent [+]
Ease of Doing Business 120.00 110 106 108 110 92 [+]
Corruption Index 43.00 43 42 41 41 38 Points [+]
Corruption Rank 70.00 60 61 63 65 64 [+]
Competitiveness Index 3.72 3.68 3.65 3.65 3.65 3.82 Points [+]
Competitiveness Rank 111.00 114 111 111 111 118 [+]
Composite Pmi 53.70 55.01 55.8 55.65 55.68 55.67 [+]
CONSUMER Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Household Spending 23.00 25 12.18 10.38 8.59 28.74 percent [+]
Gasoline Prices 0.99 0.99 0.99 0.98 0.98 0.95 USD/Liter [+]
Bank Lending Rate 35.50 45 34.95 34.71 34.48 32.85 percent [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Corporate Tax Rate 25.00 25 25 26 26 27 percent [+]
Personal Income Tax Rate 25.00 25 25 25 25 25 percent [+]
Sales Tax Rate 15.00 15 15 15 15 15 percent [+]
CLIMATE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Precipitation 0.00 89.1 99.41 96.31 91.61 94.76 mm [+]
Temperature 26.00 27.08 27.07 27.06 27.07 27.07 celsius [+]