Ghana GDP Annual Growth Rate  2000-2018 | Data | Chart | Calendar

Ghana’s economy grew 6.8 percent year-on-year in the first quarter of 2018, easing from a 8.1 percent gain in the previous period. It was the weakest expansion since the first quarter of 2017, as the industrial sector and agriculture slowed. On a quarterly basis, the gross domestic product expanded 1.5 percent, slowing from a 2.1 percent growth in the prior period. GDP Annual Growth Rate in Ghana averaged 6.95 percent from 2000 until 2018, 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 Slows to 1-Year Low in Q1


Ghana’s economy grew 6.8 percent year-on-year in the first quarter of 2018, easing from a 8.1 percent gain in the previous period. It was the weakest expansion since the first quarter of 2017, as the industrial sector and agriculture slowed. On a quarterly basis, the gross domestic product expanded 1.5 percent, slowing from a 2.1 percent growth in the prior period.

The industrial sector advanced 9.6 percent, lower than 17.5 percent in the fourth quarter of 2017, mainly due to a drop in construction (-0.8 percent compared to 5.0 percent in Q4) and a slowdown in mining (28.0 percent compared to 43.9 percent); oil and gas (24.8 percent compared to 57.9 percent) and electricity (2.4 percent compard to 2.8 percent). Meanwhile, output increased in manufacturing (3.1 percent compared to 1.3 percent) and water and sewerage (9.2 percent compared to 3.5 percent). 

Agriculture grew 2.8 percent, easing from a 8.5 percent in the previous period, mostly due to crops and cocoa (4.6 percent compared to 9.7 percent); forestry and logging (1.6 percent compared to 3.0 percent) and fishing (-8.1 percent compared to 4.4 percent).

The services sector expanded 5.2 percent, higher than a 3.4 percent in the prior quarter, boosted by growth in information and communication (25.9 percent compared to 12.2 percent); real estate, professional, administrative and other (7.7 percent compared to 3.3 percent); public administration (3.1 percent compared to -4.0 percent) and trade, repair of vehicle and householg goods (2.9 percent compared to 1.5 percent). Also, output shrank less for transport (-1.7 percent compared to -3.2 percent) and community, social and personal services (-1.7 percent compared to -3.6 percent). On the other hand, growth eased for health (9.7 percent compared to 24.2 percent) and education (2.8 percent compared to 24.2 percent). Additionally, output dropped for finance and insurance (-7.9 percent compared to 1.8 percent) and hotel and restaurants (-0.4 percent compared to 2.5 percent).

On a quarterly basis, the GDP grew 1.5 percent, after expanding 2.1 percent in the previous quarter.


Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com
6/27/2018 4:52:13 PM


Recent Releases

Ghana GDP Growth Eases to 8.1% in Q4
Ghana's economy expanded by 8.1 percent year-on-year in the fourth quarter of 2017, following an upwardly revised 9.7 percent growth in the previous three-month period. Considering 2017 full year, the economy grew by 8.5 percent, the fastest rate in five years, mainly boosted by oil and gas production.
Published on 2018-04-13

Ghana GDP Growth Expands the Most Since 2014
Ghana´s economy advanced 9.3 percent year-on-year in the third quarter of 2017, above a 9.0 percent rise in the previous period. It is the highest growth rate since the third quarter of 2014, mainly boosted by a 72.2 percent jump in the oil and gas sector. On a quarterly basis, the economy expanded 2.5 percent.
Published on 2017-12-21

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.
Published on 2017-09-27

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



Calendar GMT Actual Previous Consensus TEForecast
2017-12-20 11:35 AM GDP Growth Rate YoY 9.3% 9% 7.9%
2018-04-11 12:00 PM GDP Growth Rate YoY 8.1% 9.7% 7.9%
2018-06-27 11:00 AM GDP Growth Rate YoY 6.8% 8.1% 7.8%
2018-09-26 11:15 AM GDP Growth Rate YoY 6.8% 7.1%
2018-12-19 11:00 AM GDP Growth Rate YoY 7.0%


Ghana GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.50 2.10 7.40 -2.20 percent [+]
GDP Annual Growth Rate 6.80 8.10 25.00 -3.80 percent [+]
GDP 47.33 42.80 47.81 1.22 USD Billion [+]
GDP Constant Prices 9939.89 9792.98 130410.40 4269.40 GHS Million [+]
Gross Fixed Capital Formation 24374.00 23010.02 24374.00 3562.21 GHS Million [+]
GDP per capita 1813.80 1708.80 1813.80 701.50 USD [+]
GDP per capita PPP 4227.60 3982.80 4227.60 1919.60 USD [+]
GDP From Agriculture 8441.00 7790.18 8441.00 5322.00 GHS Million [+]
GDP From Construction 3175.00 3036.96 3175.00 1016.30 GHS Million [+]
GDP From Manufacturing 2543.00 2451.89 2543.00 1801.31 GHS Million [+]
GDP From Mining 3606.00 2458.00 3606.00 497.40 GHS Million [+]
Gdp From Public Administration 1517.94 1495.88 1517.94 862.14 GHS Million [+]
GDP From Services 19554.00 18746.84 19554.00 8690.40 GHS Million [+]
GDP From Transport 3853.00 3837.80 3853.00 2357.20 GHS Million [+]
GDP From Utilities 329.00 308.38 329.00 224.40 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. 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 August of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
6.80 8.10 25.00 -3.80 2000 - 2018 percent Quarterly
NSA




GDP annual growth rate by Country
Country Last
India 7.70 Mar/18
Turkey 7.40 Mar/18
China 6.70 Jun/18
Indonesia 5.27 Jun/18
Australia 3.10 Mar/18
Netherlands 2.90 Jun/18
South Korea 2.90 Jun/18
United States 2.80 Jun/18
Mexico 2.70 Jun/18
Spain 2.70 Jun/18
Canada 2.30 Mar/18
Euro Area 2.20 Jun/18
Switzerland 2.20 Mar/18
Germany 2.00 Jun/18
Russia 1.80 Jun/18
France 1.70 Jun/18
United Kingdom 1.30 Jun/18
Brazil 1.20 Mar/18
Italy 1.10 Jun/18
Japan 1.00 Jun/18


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