The economy of Ghana advanced by 3.3% from a year earlier in the first quarter of 2022, slowing from a 7% expansion in the previous period. It marks the weakest pace of growth since the last quarter of 2020, as activity slowed markedly in the industrial sector (1.8% vs 4.8% in Q4) due to a decline in the production of oil and gas. Slower growth was also recorded in services (3.7% vs 8.1%) and agriculture (5.6% vs 8.2%). The nation is currently battling a set of challenges including runaway inflation, a depreciating local currency and high public debt. source: Ghana Statistical Service
GDP Annual Growth Rate in Ghana averaged 6.18 percent from 2000 until 2022, reaching an all time high of 25 percent in the first quarter of 2012 and a record low of -5.70 percent in the second quarter of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
GDP Annual Growth Rate in Ghana is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ghana GDP Annual Growth Rate is projected to trend around 5.20 percent in 2023 and 5.00 percent in 2024, according to our econometric models.