Ghana GDP Annual Growth Rate 2000-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Ghana expanded 5.30 percent in the second quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Ghana averaged 7.64 Percent from 2000 until 2014, reaching an all time high of 19.10 Percent in the second quarter of 2011 and a record low of 2.20 Percent in the third quarter of 2009. GDP Annual Growth Rate in Ghana is reported by the Ghana Statistical Service.


Ghana GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.30 6.50 19.10 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 Friday, October 31, 2014.

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.

Industrial production contracted 0.5 percent year-on-year. Manufacturing shrank 10.9 percent and construction fell 1 percent. The agricultural sector recorded the highest growth rate (up 8.5 percent), accelerating from a 7.6 percent expansion in the previous period. Livestock production expanded by 36.7 percent and forestry increased 13.5 percent. The services sector grew 2.1 percent.

In 2011 and 2010, Ghana GDP registered double-digit growth rates as the country dramatically increased its oil production. Yet, since 2013 several fiscal problems including high wages and energy subsidies led to an increase in government budget deficit and raising public borrowing costs. In addition, the Cedi depreciated more than 38 percent in the first nine months of 2014 putting pressure on import prices and increasing the inflation rate. The government already cut its 2014 growth forecasts to 6.9 percent from 7.1 percent and started talks with the IMF for a bailout program which will include several fiscal reforms.

On a quarter-on-quarter seasonally adjusted basis, the economy increased 3.3 percent in the second quarter of 2014. 

Ghana Statistical Service | Ricardo Martins |
10/23/2014 4:25:45 PM

Recent Releases

Agriculture Drives Ghana GDP Growth in Q1
The Ghanaian economy expanded 6.7 percent year-on-year in the first three months of 2014, compared with a 4.9 percent increase in the previous two quarters. Agriculture posted its fastest expansion in four years while the industrial sector contracted for the second straight quarter. In the same quarter of 2013, the economy advanced 9 percent. Published on 2014-06-30

Ghana GDP Expands 4.9% YoY in Q4
Ghana's economy advanced 4.9 percent year-on-year in the fourth quarter of 2013. It is the slowest expansion since the third quarter of 2010. Considering the full year, the GDP expanded 7.1 percent. Published on 2014-04-14

Ghana GDP Last Previous Highest Lowest Unit
GDP 47.93 41.74 47.93 1.20 USD Billion [+]
GDP Growth Rate 3.30 2.00 7.80 -5.90 Percent [+]
GDP Annual Growth Rate 5.30 6.50 19.10 2.20 Percent [+]
GDP Constant Prices 7430.70 7393.70 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 [+]