The economy of Ghana expanded by 3.1 percent year-on-year in the first quarter of 2021, following a 3.3 percent rise in the previous period. It was the second successive quarter of growth, as the economy gradually recovers from the pandemic crisis and a drop in oil prices that caused its first recession since at least 2007. Growth was mainly driven by agriculture (4.3 percent vs 8.2 percent in Q4) and services (4 percent vs 4.6 percent). At the same time, the industrial sector rebounded slightly (1.3 percent vs -0.4 percent). On a quarterly basis, the GDP increased by 0.8 percent. source: Ghana Statistical Service
GDP Annual Growth Rate in Ghana averaged 6.23 percent from 2000 until 2021, reaching an all time high of 25 percent in the first quarter of 2012 and a record low of -5.70 percent in the second quarter of 2020. This page provides the latest reported value for - Ghana GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Ghana GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.
GDP Annual Growth Rate in Ghana is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Ghana to stand at 1.80 in 12 months time. In the long-term, the Ghana GDP Annual Growth Rate is projected to trend around 2.40 percent in 2022 and 4.00 percent in 2023, according to our econometric models.