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ECON FACTBOOK

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Economy of Ghana

Population: 26 million in 20131

GDP: $48 billion in 20132

GDP per capita: $1,858 nominal3 ($3,974 PPP4) in 2013

GDP growth rate: 7.6% in 20135

Industries

GDP by Industry 20126

Industry sectorValue added ($ millions) 2012Percent of total
Agriculture, hunting, forestry, fishing9,36325.3%
Other activities9,35825.3%
Transport, storage and communication4,62112.5%
Wholesale, retail trade, restaurants and hotels4,16011.3%
Mining and utilities3,5979.7%
Construction3,3048.9%
Manufacturing2,5416.9%
Total value added36,943100%

Employment

Unemployment rate: 4.6% in 20137

Employment by Industry 20058

Employment sectorPercent of total
Agriculture56%
Services29%
Industry15%
Total100%

Corporations

Top 10 Corporations by Revenue 20139

N/A

Households

Household Wealth: $14 billion (29% of GDP) in 201410

Household Wealth per Adult: $1,023 in 201410

Gini Coefficient: .428 in 201311

Government

Central Government

Central Government Revenue: $11 billion (23% of GDP) in 201312

Central Government Expenditure: $15 billion (31% of GDP) in 201312

Central Government Budget Balance: -$4 billion (-8% of GDP) in 201312

Central Government Public Debt: $24 billion (50% of GDP) in Dec 2014* 13

Central Government 10 Year Bond Interest Rate: 8.25% in Sept 201414

* Public debt calculated using the exchange rate 3.37 GHS = 1 USD

Government Funds

N/A

Tax Structure

Individual Income Tax Rates and Thresholds in 201315

Corporate Tax Rate: 25% in 201416

Monetary Policy

Money Supply (M1): $4.1 billion (9% of GDP) in May 2014* 17

Benchmark Interest Rate: 21% in Nov 201418

Total Reserves: $6 billion (% of GDP) in 201319

Exchange Rate: 3.37 Ghanaian Cedi = 1 U.S. Dollar on Feb 4, 201520

Inflation: 11.6% in 201321

* Money supply calculated using the exchange rate 3.37 GHS = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 201322

N/A (data not available at Relbanks.com)

International Accounts

Exports: $13 billion (27% of GDP) in 201323

Imports: $18 billion (37% of GDP) in 201323

Trade Balance: -$5 billion (-10% of GDP) in 201323

Foreign Direct Investment Inflow: $3.2 billion (7% of GDP) in 201324

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $1.8 billion (4% of GDP) in 201225

Foreign Aid Outflow: N/A

References

1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: CIA World Factbook (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: UN Human Development Report (Gini coefficient) Go back
12. Source: CIA World Factbook (Government budget) Go back
13. Source: The Government of Ghana, Economic and Financial Policies for the Medium Term (Public debt) Go back
14. Source: Bloomberg (Government bond yield) Go back
15. Source: PKF Tax Guide (Individual tax rates) Go back
16. Source: Tax Foundation (Corporate tax rate) Go back
17. Source: Bank of Ghana (Money supply) Go back
18. Source: Bank of Ghana, Policy Rate Trends (Benchmark interest rate) Go back
19. Source: World Bank Indicators (Total reserves) Go back
20. Source: xe.com (Exchange rate) Go back
21. Source: World Bank Indicators (Inflation rate) Go back
22. Source: Relbanks.com (Financial institutions by assets) Go back
23. Source: CIA World Factbook (Trade data) Go back
24. Source: World Bank Indicators (FDI data) Go back
25. Source: World Bank Indicators (Aid data) Go back