Ghana GDP Growth Rate 2006-2015 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Ghana expanded 0.70 percent in the third quarter of 2014 over the previous quarter. GDP Growth Rate in Ghana averaged 2.10 percent from 2006 until 2014, reaching an all time high of 7.80 percent in the first quarter of 2011 and a record low of -5.90 percent in the second quarter of 2010. GDP Growth Rate in Ghana is reported by the Ghana Statistical Service.

      Forecast    
Ghana GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.70 -0.10 7.80 -5.90 2006 - 2014 percent Quarterly
Ghana's has one of the highest GDP per capita in West Africa. The country has a diverse and rich resource base with gold, timber, cocoa, diamond, bauxite, and manganese being the most important source of foreign trade. In 2007, an oilfield which may contain up to 3 billion barrels of light oil was discovered. Yet, in spite of abundance of natural resources, a quarter of the population lives below the poverty line. This page provides - Ghana GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Ghana GDP Growth Rate - was last refreshed on Tuesday, March 3, 2015.


Ghana GDP Rebounds in Q3


The Ghanaian economy expanded 0.7 percent quarter-on-quarter in the third quarter of 2014, compared with a revised 0.1 contraction in the three months to June, boosted by livestock production, finance, insurance and fishing activities

The industry sector grew 2 percent, following a revised 0.1 percent increase in the previous quarter. Growth was mainly driven by electricity (6.4 percent) and mining and quarrying (3.3 percent). Construction and manufacturing also recorded positive growth rates (1.6 percent and 0.8 percent, respectively). In contrast, there were declines in water sewerage (-0.5 percent).

The agriculture sector expanded 0.3 percent, recovering from a 2.9 percent fall in the second quarter of 2014. Livestock production went up 17.9 percent and fishing activities increased by 6.4 percent.

The services sector grew a meager 0.1 percent, down from a 1.5 increase in the three months to June. Transport and storage dropped 3.5 percent, hotels and restaurants activities fell 1.9 percent and business and real estate activities contracted 0.4 percent. In contrast, finance and insurance services advanced 6.4 percent.

On a year-on-year basis, the GDP advanced 5.1 percent in the third quarter of 2014.

Ghana Statistical Service | Carolina Cunha | carolina.cunha@tradingeconomics.com
1/15/2015 6:36:31 PM


Recent Releases

Ghana GDP Growth Accelerates to 3.3% QoQ in Q2
In the second quarter of 2014, the Ghanaian economy expanded 3.3 percent over the previous quarter, compared with a 2.6 percent expansion in the previous period and driven by an increase in services activities. Published on 2014-10-23

Ghana GDP Advances 2.6% QoQ in Q1
In the first quarter of 2014, the Ghanaian economy expanded 2.6 percent over the previous quarter, driven livestock, forestry and fishing activities. Published on 2014-06-30


Ghana GDP Last Previous Highest Lowest Unit
GDP 38.58 49.45 49.45 1.20 USD Billion [+]
GDP Growth Rate 0.70 -0.10 7.80 -5.90 percent [+]
GDP Annual Growth Rate 5.10 1.00 19.10 2.20 percent [+]
GDP Constant Prices 8234.70 8175.70 130410.40 4410.00 GHS Million [+]
GDP per capita 766.05 730.22 766.05 320.77 USD [+]
GDP per capita PPP 3847.94 3667.98 3847.94 1891.65 USD [+]
Gross Fixed Capital Formation 21279.60 23334.10 23334.10 4047.00 GHS Million [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.30 Aug/14 0.50 4.50 -2.00 percent [+]
Brazil 0.10 Aug/14 -0.60 4.50 -4.20 percent [+]
Canada 0.70 Aug/14 0.90 3.33 -1.80 percent [+]
China 1.50 Nov/14 1.90 2.50 1.40 percent [+]
Euro Area 0.30 Nov/14 0.20 1.30 -2.80 percent [+]
France 0.10 Nov/14 0.30 1.60 -1.70 percent [+]
Germany 0.70 Nov/14 0.10 2.10 -3.70 percent [+]
India 1.50 Aug/14 1.30 5.80 -1.90 percent [+]
Indonesia -2.06 Nov/14 3.16 3.82 -3.57 percent [+]
Italy 0.00 Nov/14 -0.10 6.00 -3.50 percent [+]
Japan 0.60 Nov/14 -0.60 3.20 -4.00 percent [+]
Mexico 0.70 Nov/14 0.50 2.90 -6.60 percent [+]
Netherlands 0.50 Nov/14 0.20 2.00 -2.20 percent [+]
Russia 0.04 Aug/14 0.14 4.10 -5.40 percent [+]
South Korea 0.40 Nov/14 0.90 6.80 -7.00 percent [+]
Spain 0.70 Nov/14 0.50 1.53 -1.60 percent [+]
Switzerland 0.60 Aug/14 0.30 1.90 -2.20 percent [+]
Turkey 0.40 Aug/14 -0.50 6.69 -7.57 percent [+]
United Kingdom 0.50 Nov/14 0.70 5.00 -2.70 percent [+]
United States 2.20 Nov/14 5.00 16.90 -10.00 percent [+]