Ghana GDP Annual Growth Rate 2000-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Ghana expanded 4.60 percent in the fourth quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Ghana averaged 7.47 percent from 2000 until 2014, reaching an all time high of 25 percent in the first quarter of 2012 and a record low of -2.20 percent in the first quarter of 2014. GDP Annual Growth Rate in Ghana is reported by the Ghana Statistical Service.

      Forecast
Ghana GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
4.60 10.40 25.00 -2.20 2000 - 2014 percent Quarterly
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. This page provides - Ghana GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Ghana GDP Annual Growth Rate - was last refreshed on Tuesday, May 26, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2014-01-07 05:00 PM Q3 5.3% 4.87%


Ghana GDP Growth Edges Down in Q4


The Ghanaian economy advanced 4.6 percent year-on-year in the last three months of 2014, slowing from an upwardly revised 10.4 percent expansion in the previous period and 9.8 percent in the same period of 2013.

Year-on-year, the industrial sector shrank 2.7 percent in the fourth quarter of 2014. Only manufacturing went up by 3.4 percent, while water and sewerage (-1.3 percent), mining (-2.4 percent), construction (-7.1 percent) and electricity production (-11.1 percent) all contracted.

The agriculture sector expanded 7 percent in the fourth quarter of 2014. The forestry sub-sector recorded the highest growth rate (36.0 percent) while livestock the lowest (3.6 percent). 

The services sector increased 8.2 percent. Information and communication activities recorded the highest increase (22.2 percent) while the health subsector shrank the most (-1.8 percent).

Considering full 2014, provisional estimates showed the GDP grew 4 percent, lower than an early estimate of 4.2 percent due to a sharp slowdown in industrial output (0.9 percent from an early 3.9 percent estimate).For 2015, the government forecasts the economy will slow to 3.9 percent.

The IMF recently approved a three-year USD 918 million bailout program to help the country implement a reform program and restore investors’ confidence. A drop in prices for major commodity exports helped widening fiscal and current account deficits and a falling cedi pushed inflation up.

Joana Taborda | joana.taborda@tradingeconomics.com
5/4/2015 12:50:53 PM


Recent Releases

Ghana’s Economy Grows 5.1% in Q3
Ghanaian GDP expanded 5.1 percent year-on-year in the third quarter of 2014, up from a downwardly revised 1 percent gain in the previous period. Yet, growth estimates for 2014 were revised downwards. Published on 2015-01-15

Ghana GDP Expands 5.3% in Q2
The Ghanaian economy advanced 5.3 percent year-on-year in the second quarter of 2014, slowing from a 6.5 percent increase in the previous quarter. It is the lowest growth rate in three quarters as the industrial sector slumped. Published on 2014-10-23


Ghana GDP Last Previous Highest Lowest Unit
GDP 38.58 49.45 49.45 1.20 USD Billion [+]
GDP Growth Rate 1.20 2.60 8.90 -2.50 percent [+]
GDP Annual Growth Rate 4.60 10.40 25.00 -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 Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.50 Nov/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Nov/14 -0.60 10.10 -3.15 percent [+]
Canada 2.63 Nov/14 2.75 8.80 -3.70 percent [+]
China 7.00 Feb/15 7.30 14.20 3.80 percent [+]
Euro Area 1.00 Feb/15 0.90 5.00 -5.60 percent [+]
France 0.70 Feb/15 0.00 12.50 -3.92 percent [+]
Germany 1.10 Feb/15 1.60 5.20 -6.80 percent [+]
India 7.50 Nov/14 8.20 11.40 -5.20 percent [+]
Indonesia 4.71 Feb/15 5.01 7.16 1.56 percent [+]
Italy 0.00 Feb/15 -0.50 10.30 -6.90 percent [+]
Japan -1.40 Feb/15 -0.90 9.40 -9.40 percent [+]
Mexico 2.50 Feb/15 2.60 8.50 -8.10 percent [+]
Netherlands 2.40 Feb/15 1.40 5.80 -4.40 percent [+]
Russia -1.90 Feb/15 0.40 12.10 -11.20 percent [+]
South Korea 2.40 Feb/15 2.70 18.20 -7.30 percent [+]
Spain 2.60 Feb/15 2.00 5.80 -4.40 percent [+]
Switzerland 1.90 Nov/14 1.90 7.30 -3.70 percent [+]
Turkey 2.60 Nov/14 1.90 12.60 -14.70 percent [+]
United Kingdom 2.40 Feb/15 3.00 9.80 -5.80 percent [+]
United States 3.00 Feb/15 2.40 13.40 -4.10 percent [+]