Ghana - Economic Forecasts - 2018-2020 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 Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 1.50 1.8 1.3 1.9 1.8 1.5 percent
Unemployment Rate 2.40 2.5 2.5 2.5 2.5 2 percent
Inflation Rate 10.00 8.9 8.9 8 8 7 percent
Interest Rate 17.00 17 17 17 17 16 percent
Balance of Trade 769.50 -5.31 -896 629 205 -1209 USD Million
Government Debt to GDP 70.50 69.1 67 77 77 69 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 4.78
4.91 5.02 5.14 5.26 5.75
Stock Market 2862.98
points
2798 2718 2641 2566 2286
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 1.50
percent
1.8 1.3 1.9 1.8 1.5
GDP Annual Growth Rate 6.80
percent
7.9 8.3 7.9 7.1 5.6
GDP 47.33
USD Billion
51 51 56 56 60
GDP Constant Prices 9939.89
GHS Million
9970 10606 10725 10016 12017
Gross Fixed Capital Formation 23010.02
GHS Million
23919 24920 24828 24644 28236
GDP per capita 1813.80
USD
1903 1903 1998 1998 2086
GDP per capita PPP 4227.60
USD
4010 4013 4120 4120 4250
GDP From Agriculture 8441.00
GHS Million
8098 9142 9108 8343 10358
GDP From Construction 3175.00
GHS Million
3157 3439 3426 3253 3896
GDP From Manufacturing 2543.00
GHS Million
2549 2754 2744 2626 3121
GDP From Mining 3606.00
GHS Million
2555 3905 3891 2633 4425
Gdp From Public Administration 1517.94
GHS Million
1503 1513 1509 1505 1429
GDP From Services 19554.00
GHS Million
19487 21177 21099 20078 23995
GDP From Transport 3853.00
GHS Million
3989 4173 4157 4110 4728
GDP From Utilities 329.00
GHS Million
321 356 355 330 404
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 2.40
percent
2.5 2.5 2.5 2.5 2
Population 28.80
Million
29.3 29.6 30 30 30.88
Living Wage Family 1700.00
GHS/Month
1750 1750 1800 1800 1850
Living Wage Individual 660.00
GHS/Month
660 660 660 660 680
Wages High Skilled 1950.00
GHS/Month
2145 2145 2000 1842 2200
Wages Low Skilled 588.00
GHS/Month
646 646 800 560 700
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 10.00
percent
8.9 8.9 8 8 7
Consumer Price Index CPI 220.40
Index Points
219 226 231 238 261
Producer Prices 588.90
Index Points
603 608 612 625 664
Food Inflation 7.30
percent
7.42 7.4 7.51 7.51 7.51
Inflation Rate Mom 1.00
percent
0.5 0.8 1.01 1.01 0.7
Producer Prices Change 7.10
percent
6.3 5.8 5.6 5.3 4
Cpi Housing Utilities 318.82
Index Points
323 325 326 328 341
Cpi Transportation 340.38
Index Points
354 363 373 382 464
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 17.00
percent
17 17 17 17 16
Foreign Exchange Reserves 6901.10
USD Million
6972 6968 6969 6969 6969
Banks Balance Sheet 97811.06
GHS Million
105286 78038 112675 116337 85747
Deposit Interest Rate 13.30
percent
13.3 13.3 13.3 13.3 12.3
Central Bank Balance Sheet 58752.74
GHS Million
59452 45110 59488 59495 46110
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 769.50
USD Million
-5.31 -896 629 205 -1209
Exports 4102.80
USD Million
3376 3120 4060 3620 3590
Imports 3333.30
USD Million
3381 4016 3431 3415 4799
Current Account -930.49
USD Million
-789 -1123 -732 -738 -945
Current Account to GDP -4.80
percent
-4.7 -4.6 -4.5 -4.5 -4.3
Capital Flows 1335.44
USD Million
219 2132 109 1590 2318
Gold Reserves 8.70
Tonnes
8.7 8.71 8.72 8.72 8.76
Terrorism Index 0.33
0.35 0.35 0.52 0.51 0.25
Crude Oil Production 163.00
BBL/D/1K
180 180 161 161 187
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 70.50
percent
69.1 67 77 77 69
Government Budget -4.50
percent of GDP
-5 -4.5 -5 -5 -5.5
Government Revenues 5145.74
GHS Million
3937 3940 3941 3941 3941
Military Expenditure 185.80
USD Million
140 117 131 145 147
Government Spending 5818.23
GHS Million
4646 6301 6278 4931 7140
Government Budget Value -1061.61
GHS Million
-744 -764 -744 -744 -777
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Internet Speed 3367.55
KBps
3944 3984 4009 4013 4055
IP Addresses 124915.00
IP
37460 29407 32023 26843 25756
Leading Economic Index 2.30
percent
4.3 4.7 4.3 4.34 4.33
Ease of Doing Business 120.00
117 118 109 107 92
Corruption Index 40.00
Points
40 39 39 39 41
Corruption Rank 81.00
73 74 75 74 75
Competitiveness Index 3.72
Points
3.6 3.72 3.74 3.79 3.82
Competitiveness Rank 111.00
112 111 110 110 118
Composite Pmi 52.70
54.36 53.7 54.37 54.37 54.37
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Household Spending 23.00
percent
22.02 26.5 22.26 22.33 28.74
Gasoline Prices 1.01
USD/Liter
0.96 0.9 0.85 0.81 0.45
Bank Lending Rate 35.50
percent
35.5 35.5 35.5 35.5 34.5
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 25.00
percent
25 25 25 25 25
Personal Income Tax Rate 25.00
percent
25 25 25 25 25
Sales Tax Rate 15.00
percent
15 15 15 15 15
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Precipitation 0.74
mm
150 64.88 37.58 94.87 102
Temperature 26.65
celsius
25.11 26.55 28.11 27.37 27.38