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 Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.10 1.3 1.5 0.94 0.93 1.5 percent [+]
Unemployment Rate 5.20 8.9 8.9 8.9 4.72 10 percent [+]
Inflation Rate 13.00 12.3 11.9 11.8 11.2 9 percent [+]
Interest Rate 22.50 22.5 20.5 19.5 18 14 percent [+]
Balance of Trade 46.90 -950 -850 -570 -198 -1209 USD Million [+]
Government Debt to GDP 73.90 72.74 76.86 80.98 79.48 76.84 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 4.30 4.3 4.35 4.47 4.43 5.11 [+]
Stock Market 1923.53 1850 1830 1770 1790 1490 points [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.10 1.3 1.5 0.94 0.93 1.5 percent [+]
GDP Annual Growth Rate 4.10 4.5 4.9 5.7 3.63 4.9 percent [+]
GDP 37.54 40 40 40 32.56 46.78 USD Billion [+]
GDP Constant Prices 9003.90 9210 9100 9030 9004 9540 GHS Million [+]
Gross Fixed Capital Formation 23010.02 27339 27300 27260 25666 14190 GHS Million [+]
GDP per capita 1696.64 1705 1711 1717 1720 1755 USD [+]
GDP per capita PPP 3954.52 3982 3995 4009 4017 4131 USD [+]
GDP From Agriculture 7790.18 7905 7961 8017 8073 8696 GHS Million [+]
GDP From Construction 3036.96 3125 3103 3082 3086 3205 GHS Million [+]
GDP From Manufacturing 2451.89 2586 2626 2667 2715 2897 [+]
GDP From Mining 2375.07 2193 2105 2017 1926 1130 GHS Million [+]
GDP From Services 18746.84 19204 19486 19769 20015 22689 GHS Million [+]
GDP From Transport 3837.80 3857 3873 3889 3895 3937 GHS Million [+]
GDP From Utilities 308.38 312 311 310 310 309 GHS Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 5.20 8.9 8.9 8.9 4.72 10 percent [+]
Job Vacancies 1577.00 1601 1697 1605 1692 1633 [+]
Population 27.41 27.46 27.87 28.02 28.02 30.34 Million [+]
Wages High Skilled 1830.00 2000 2000 2100 1508 2550 GHS/Month [+]
Wages Low Skilled 534.00 630 630 680 452 990 GHS/Month [+]
Living Wage Family 1407.20 1500 1580 1620 1435 1800 GHS/Month [+]
Living Wage Individual 748.50 330 350 430 752 630 GHS/Month [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 13.00 12.3 11.9 11.8 11.2 9 percent [+]
Consumer Price Index CPI 197.07 210 216 220 205 364 Index Points [+]
Producer Prices 552.00 581 588 620 554 830 Index Points [+]
Food Inflation 6.70 7.7 7.4 7.6 7.76 7.71 percent [+]
Producer Prices Change 4.80 10 10.6 11 4.72 9.5 percent [+]
Inflation Rate Mom 1.60 1.1 1.2 1.18 1.18 1.3 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 22.50 22.5 20.5 19.5 18 14 percent [+]
Foreign Exchange Reserves 6248.30 4830 6033 6031 6031 6031 USD Million [+]
Banks Balance Sheet 74035.20 70800 73700 74094 93657 85747 GHS Million [+]
Deposit Interest Rate 13.30 12.92 13.23 13.53 13.58 13.87 percent [+]
Central Bank Balance Sheet 55029.89 42983 43581 44107 54159 46110 GHS Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 46.90 -950 -850 -570 -198 -1209 USD Million [+]
Exports 3126.10 2370 2550 3030 3190 3590 USD Million [+]
Imports 3324.63 3320 3400 3600 3327 4799 USD Million [+]
Current Account -638.41 -440 -780 -998 -700 -945 USD Million [+]
Current Account to GDP -7.50 -8.77 -8.62 -8.48 -8.75 -9.53 percent [+]
Capital Flows 2325.11 -123 826 1893 709 2318 USD Million [+]
Gold Reserves 8.70 8.7 8.7 8.7 8.7 8.76 Tonnes [+]
Terrorism Index 0.35 0.57 0.65 0.73 0.7 0.65 [+]
Crude Oil Production 145.00 147 147 147 147 147 BBL/D/1K [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 73.90 72.74 76.86 80.98 79.48 76.84 percent [+]
Government Budget -8.70 -7.8 -7.8 -7.8 -9.04 -8.87 percent of GDP [+]
Government Revenues 3707.85 3014 3004 3007 3008 3008 GHS Million [+]
Government Spending 8421.46 3370 3664 3788 3663 4024 GHS Million [+]
Government Budget Value -970.84 -334 -886 -965 -891 -777 GHS Million [+]
Military Expenditure 193.90 186 184 182 186 192 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Leading Economic Index -1.80 -0.51 -0.73 -1.32 -0.32 -0.87 percent [+]
Ease of Doing Business 108.00 110 110 110 90 92 [+]
Corruption Index 43.00 45 44 44 44 44 Points [+]
Corruption Rank 70.00 60 60 59 61 63 [+]
Competitiveness Index 3.68 3.68 3.68 3.68 3.6 3.82 Points [+]
Competitiveness Rank 114.00 114 114 114 118 118 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Household Spending 23.15 25 25 25 12.96 28.74 percent [+]
Gasoline Prices 0.94 0.94 0.94 0.94 0.94 0.94 USD/Liter [+]
Bank Lending Rate 38.30 43.9 44.3 45 38.36 38.36 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Home Ownership Rate 47.20 47.2 47.2 47.2 47.2 47.2 percent [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 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 [+]