The gross domestic product of Ghana advanced by 7% from a year ago in the fourth quarter of 2021, following a downwardly revised 6.5% rise in the previous three-month period. It was the fastest pace of growth since the first quarter of 2020, mainly boosted by agriculture (8.2% vs 7.6% in Q3) and services (8.1% vs 13.6%). At the same time, the manufacturing sector rebounded (4.8% vs -1.6%). On a quarterly basis, the GDP grew 1.8%, after a downwardly revised 1.5% rise in the previous quarter. Considering the full year of 2021, the GDP expanded by 5.4%, the most in two years, beating forecasts by the government (4.4%) and the International Monetary Fund (4.2%). source: Ghana Statistical Service

GDP Annual Growth Rate in Ghana averaged 6.22 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 May of 2022.

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. In the long-term, the Ghana GDP Annual Growth Rate is projected to trend around 6.00 percent in 2023 and 6.30 percent in 2024, according to our econometric models.

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Ghana GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2021-12-22 10:30 AM Q3 6.6% 5.1% 4.5%
2022-04-20 10:10 AM Q4 7% 6.5% 5.8%
2022-06-16 11:00 AM Q1 7% 3.4%


Related Last Previous Unit Reference
GDP Growth Rate 1.80 1.50 percent Dec 2021
GDP Annual Growth Rate 7.00 6.50 percent Dec 2021
GDP Constant Prices 43764.34 42985.55 GHS Million Dec 2021
Gross Fixed Capital Formation 77350.76 69219.66 GHS Million Dec 2021
GDP From Utilities 235.32 253.59 GHS Million Dec 2021
GDP From Transport 2469.20 2569.65 GHS Million Dec 2021
GDP From Services 18865.88 17884.49 GHS Million Dec 2021
GDP From Public Administration 1733.28 2002.49 GHS Million Dec 2021
GDP From Mining 5924.94 5231.40 GHS Million Dec 2021
GDP From Manufacturing 5310.70 5125.09 GHS Million Dec 2021
GDP From Construction 3298.33 3492.41 GHS Million Dec 2021
GDP From Agriculture 10489.70 8117.66 GHS Million Dec 2021

Ghana GDP Annual Growth Rate
Services is the largest sector of the Ghanaian economy, accounting for 52 percent of the GDP. Within services, the most important sub-sectors are: transport and storage (10 percent); information and communication (9.8 percent); trade, repair of vehicles and household goods (7 percent) and financial and insurance activities; education and public administration & defense and social security (4 percent each). Also, industry accounts for 26 percent of the GDP with mining and quarrying (10 percent); construction (8 percent) and manufacturing (7 percent). Agriculture accounts for 22 percent, mainly crops (17 percent). On the expenditure side, household consumption is the main component of the GDP and accounts for 81 percent of its total use, followed by gross fixed capital formation (11 percent); government expenditure (10 percent) and changes in stocks (2 percent). Exports of goods and services account for 48 percent of GDP while imports for 52 percent, subtracting 4 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
7.00 6.50 25.00 -5.70 2000 - 2021 percent Quarterly
Constant Prices 2013, NSA

News Stream
Ghana Economy Gains Steam in Q4
The gross domestic product of Ghana advanced by 7% from a year ago in the fourth quarter of 2021, following a downwardly revised 6.5% rise in the previous three-month period. It was the fastest pace of growth since the first quarter of 2020, mainly boosted by agriculture (8.2% vs 7.6% in Q3) and services (8.1% vs 13.6%). At the same time, the manufacturing sector rebounded (4.8% vs -1.6%). On a quarterly basis, the GDP grew 1.8%, after a downwardly revised 1.5% rise in the previous quarter. Considering the full year of 2021, the GDP expanded by 5.4%, the most in two years, beating forecasts by the government (4.4%) and the International Monetary Fund (4.2%).
2022-04-20
Ghana GDP Growth Quickens in Q3
The economy of Ghana advanced by 6.6% year-on-year in the third quarter of 2021, following an upwardly revised 5.1% rise in the previous three-month period. It was the fourth consecutive quarter of growth and at the fastest pace since the onset of the pandemic crisis in the first quarter of 2020. The services sector expanded 13.4%, led by education (24.2%) as schools reopened in January after a 10-month closure. The agricultural sector grew 9.2%, led by fishing, which surged 14.3%. On a quarterly basis, the GDP expanded 1.6%.
2021-12-22
Ghana GDP Growth Quickens to 3.9% in Q2
The economy of Ghana expanded by 3.9 percent year-on-year in the second quarter of 2021, following a 3.1 percent rise in the previous period. It was the third 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. Main positive contributions to the GDP growth came from trade, repair of vehicles, house goods; manufacturing; information & communication; health & social works and crops production. Meanwhile, the mining sector contracted.
2021-09-15