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 0.92 0.91 1.5 percent [+]
Unemployment Rate 5.20 8.9 8.9 8.9 4.72 10 percent [+]
Inflation Rate 12.80 12.9 11.9 11.8 11.2 9 percent [+]
Interest Rate 23.50 23.5 22 22 21 19 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 4.14 4.3 4.35 4.47 4.43 5.11 [+]
Stock Market 1883.56 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 0.92 0.91 1.5 percent [+]
GDP Annual Growth Rate 4.00 4.5 4.9 5.7 3.72 4.9 percent [+]
GDP 37.54 40 40 40 32.56 46.78 USD Billion [+]
GDP Constant Prices 8929.81 9210 9100 9030 8930 9540 GHS Million [+]
Gross Fixed Capital Formation 33043.93 32502 34343 36185 38369 50030 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 7365.00 7404 7343 7282 7274 7231 GHS Million [+]
GDP From Construction 3772.00 3590 3841 4092 4073 4461 GHS Million [+]
GDP From Manufacturing 2288.00 2287 2310 2334 2331 2325 [+]
GDP From Mining 2727.00 2771 2789 2807 2778 2756 GHS Million [+]
GDP From Services 17470.00 17845 18025 18205 18376 20661 GHS Million [+]
GDP From Transport 3416.00 3485 3432 3379 3371 3259 GHS Million [+]
GDP From Utilities 307.00 291 303 315 312 290 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 12.80 12.9 11.9 11.8 11.2 9 percent [+]
Consumer Price Index CPI 194.02 210 216 220 205 364 Index Points [+]
Producer Prices 551.20 581 588 620 620 830 Index Points [+]
Food Inflation 7.30 7.7 7.4 7.6 7.9 7.85 percent [+]
Producer Prices Change 5.40 10 10.6 11 11 9.5 percent [+]
Inflation Rate Mom 1.30 1.1 1.2 1.19 1.17 1.3 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 23.50 23.5 22 22 21 19 percent [+]
Foreign Exchange Reserves 6401.56 4830 6075 6073 6073 6073 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 54084.71 42983 43581 44107 54111 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 374.50 -123 826 1893 705 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 59.00 66.4 66.4 66.4 66.4 66.4 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 2582.08 2833 2904 2965 3028 3757 GHS Million [+]
Government Spending 3326.48 3370 3129 3788 3129 4024 GHS Million [+]
Government Budget Value -740.99 -334 -902 -965 -901 -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 0.93 0.93 0.93 0.93 0.93 0.93 USD/Liter [+]
Bank Lending Rate 38.30 43.9 44.3 45 38.16 38.16 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 [+]