Ghana GDP Annual Growth Rate  2000-2017 | Data | Chart | Calendar

Ghana´s economy advanced 9 percent year-on-year in the second quarter of 2017, above a 6.6 percent rise in the previous period. It is the highest growth rate since the third quarter of 2014, mainly boosted by a 188 percent jump in the oil and gas sector. On a quarterly basis, the economy expanded 2 percent. GDP Annual Growth Rate in Ghana averaged 6.84 percent from 2000 until 2017, reaching an all time high of 25 percent in the first quarter of 2012 and a record low of -3.80 percent in the first quarter of 2014.

Ghana GDP Annual Growth Rate
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Ghana GDP Growth at Near 3-Year High of 9%


Ghana´s economy advanced 9 percent year-on-year in the second quarter of 2017, above a 6.6 percent rise in the previous period. It is the highest growth rate since the third quarter of 2014, mainly boosted by a 188 percent jump in the oil and gas sector. On a quarterly basis, the economy expanded 2 percent.

The industrial sector went up 19.3 percent, following an 11.6 percent rise in the previous period. Mining jumped 75 percent (33.1 percent in Q1) and manufacturing rose 6.6 percent (5.9 percent in Q1) while construction went up at a slower 0.8 percent (2.9 percent in Q1). 

The services sector increased 5.6 percent, also higher than 3.4 percent in the previous period.

Agriculture slowed (3.4 percent compared to 7.7 percent in Q1), mainly due to a 17.6 percent drop in fishing (+13.6 percent in Q1). 

GDP growth for 2016 was revised higher to 3.7 percent from an earlier estimate of 3.5 percent. 

Ghana Statistical Service | Joana Taborda | joana.taborda@tradingeconomics.com
9/27/2017 5:52:35 PM


Recent Releases

Ghana GDP Grows The Most Since Q3 2014
The Ghana's economy advanced 6.6 percent year-on-year in the first three months of 2017, following a 4.1 percent expansion in the previous period. It is the highest growth rate since the third quarter of 2014 as manufacturing recovered; oil and gas output jumped and agriculture rose the most in nearly three years while the services sector slowed. A year earlier, the GDP growth was lower at 4.4 percent. The government expects the economy to advance 6.3 percent in 2017.
Published on 2017-06-28

Ghana Economy Expands 4.1% YoY In Q4
The GDP in Ghana advanced 4.1 percent year-on-year in the fourth quarter of 2016, following a downwardly revised 3.9 percent expansion in the previous quarter. The main drivers of growth were services and industry. A year earlier, GDP growth was lower at 3.9 percent.
Published on 2017-05-02

Ghana Economy Expands 4% YoY in Q3
The GDP in Ghana expanded 4 percent year-on-year in the third quarter of 2016, following a downwardly revised 2.3 percent growth in the preceding quarter. The expansion was boosted by the services sector and a recovery in industrial output after resumption of oil production from the Jubilee field. A year earlier, GDP growth was lower at 3.5 percent.
Published on 2016-12-29

Ghana Economy Advances 2.5% YoY in Q2
The GDP in Ghana expanded 2.50 percent year-on-year in the second quarter of 2016, following a downwardly revised 4.8 growth in the previous quarter. The slowdown was mostly due to a 49 percent fall in oil output after a technical fault at the main production vessel stopped production between March and May.
Published on 2016-09-28



Calendar GMT Actual Previous Consensus TEForecast
2017-04-26 11:30 AM GDP Growth Rate YoY 4.1% 4% 4.4%
2017-06-28 11:00 AM GDP Growth Rate YoY 6.6% 4.1% 4.3%
2017-09-27 11:15 AM GDP Growth Rate YoY 9% 6.6% 4.8%
2017-12-27 11:00 AM GDP Growth Rate YoY 9% 6.3%


Ghana GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.00 1.50 7.40 -2.20 percent [+]
GDP Annual Growth Rate 9.00 6.60 25.00 -3.80 percent [+]
GDP 42.69 37.54 47.81 1.22 USD Billion [+]
GDP Constant Prices 9341.19 9136.26 130410.40 4269.40 GHS Million [+]
Gross Fixed Capital Formation 23010.02 33043.93 33043.93 4047.00 GHS Million [+]
GDP per capita 1707.70 1686.00 1707.70 701.53 USD [+]
GDP per capita PPP 3980.20 3954.52 3980.20 1919.60 USD [+]
GDP From Agriculture 7790.18 7567.00 7790.18 5322.00 GHS Million [+]
GDP From Construction 3036.96 2950.00 3036.96 1016.30 GHS Million [+]
GDP From Manufacturing 2451.89 2387.00 2451.89 1801.30 [+]
GDP From Mining 2375.07 2661.00 2834.00 497.40 GHS Million [+]
GDP From Services 18746.84 17734.00 18746.84 8690.40 GHS Million [+]
GDP From Transport 3837.80 3754.00 3837.80 2357.20 GHS Million [+]
GDP From Utilities 308.38 319.00 319.00 224.40 GHS Million [+]


Ghana GDP Annual Growth Rate

In Ghana, the annual growth rate in GDP measures the change in the value of the goods and services produced by the country economy during the period of a year. Ghana, which exports cocoa, gold and oil was one of Africa’s best-performing economies until 2014, when it was hit by a slump in commodity prices. Ghana, which exports cocoa, gold and oil, was one of Africa’s best-performing economies until 2014, when it was hit by a slump in commodity prices. This page provides the latest reported value for - Ghana GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Ghana GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on October of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
9.00 6.60 25.00 -3.80 2000 - 2017 percent Quarterly
NSA




gdp annual growth rate by Country

Last
China 6.90 Jun/17
India 5.70 Jun/17
Turkey 5.10 Jun/17
Indonesia 5.01 Jun/17
Canada 3.70 Jun/17
Netherlands 3.30 Jun/17
Spain 3.10 Jun/17
South Korea 2.70 Jun/17
Russia 2.50 Jun/17
Euro Area 2.30 Jun/17
United States 2.20 Jun/17
Germany 2.10 Jun/17
Australia 1.80 Jun/17
France 1.80 Jun/17
Mexico 1.80 Jun/17
Italy 1.50 Jun/17
United Kingdom 1.50 Jun/17
Japan 1.40 Jun/17
Brazil 0.30 Jun/17
Switzerland 0.30 Jun/17