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 2 2 percent
Inflation Rate 9.90 9.7 9.1 8.7 8.5 7 percent
Interest Rate 17.00 17 17 17 16.5 16 percent
Balance of Trade 540.50 295 -896 904 668 -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 4.82
4.81 4.85 4.89 4.93 5.09
Stock Market 2783.08
points
2785 2759 2733 2707 2607
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 6.8 7 7.1 5.6
GDP 47.33
USD Billion
51 51 56 56 60
GDP Constant Prices 9939.89
GHS Million
9927 10459 10636 10016 11851
Gross Fixed Capital Formation 24374.00
GHS Million
23815 26031 26080 24644 29496
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
8063 9015 9032 8343 10215
GDP From Construction 3175.00
GHS Million
3143 3391 3397 3253 3842
GDP From Manufacturing 2543.00
GHS Million
2538 2716 2721 2626 3077
GDP From Mining 3606.00
GHS Million
2544 3851 3858 2633 4364
Gdp From Public Administration 1517.94
GHS Million
1503 1513 1509 1505 1429
GDP From Services 19554.00
GHS Million
19403 20884 20923 20078 23663
GDP From Transport 3853.00
GHS Million
3972 4115 4123 4110 4663
GDP From Utilities 329.00
GHS Million
319 351 352 330 398
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 2.40
percent
2.5 2.5 2 2 2
Population 28.80
Million
29.3 29.6 30 30 31
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 2000 2200
Wages Low Skilled 588.00
GHS/Month
646 646 800 800 700
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 9.90
percent
9.7 9.1 8.7 8.5 7
Consumer Price Index CPI 221.10
Index Points
221 226 233 239 261
Producer Prices 597.40
Index Points
617 624 627 643 696
Food Inflation 7.90
percent
7.43 7.4 7.2 7 7.5
Inflation Rate Mom 0.40
percent
0.5 0.8 1.05 0.97 0.7
Producer Prices Change 8.20
percent
8.7 8.5 8.2 7.9 4
Cpi Housing Utilities 320.92
Index Points
321 323 325 327 338
Cpi Transportation 359.66
Index Points
367 379 392 404 516
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 17.00
percent
17 17 17 16.5 16
Foreign Exchange Reserves 7294.10
USD Million
7166 7254 7230 7235 7234
Banks Balance Sheet 98164.43
GHS Million
102653 78038 109315 112614 85747
Deposit Interest Rate 13.30
percent
13.3 13.3 13.3 12.8 12.3
Central Bank Balance Sheet 62726.80
GHS Million
62964 45110 63254 63265 46110
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 540.50
USD Million
295 -896 904 668 -1209
Exports 3762.90
USD Million
3583 3120 4240 3950 3590
Imports 3222.40
USD Million
3288 4016 3336 3282 4799
Current Account 255.00
USD Million
-615 -1123 -202 -362 -945
Current Account to GDP -4.80
percent
-4.7 -4.6 -4.5 -4.5 -4.3
Capital Flows -516.00
USD Million
177 2132 -189 1698 2318
Gold Reserves 8.70
Tonnes
8.7 8.71 8.72 8.72 8.76
Terrorism Index 0.33
0.35 0.35 0.2 0.2 0.3
Crude Oil Production 160.00
BBL/D/1K
180 180 160 160 187
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 3123.81
GHS Million
3422 3417 3418 3418 3418
Military Expenditure 185.80
USD Million
140 117 131 145 147
Government Spending 3882.40
GHS Million
4625 6214 4154 4931 7041
Government Budget Value -1082.44
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 3.20
percent
4.3 4.7 3.77 3.83 3.82
Ease of Doing Business 120.00
117 118 120 120 122
Corruption Index 40.00
Points
40 39 40 40 41
Corruption Rank 81.00
73 74 75 75 75
Competitiveness Index 3.72
Points
3.72 3.72 3.74 3.79 3.82
Competitiveness Rank 111.00
111 111 113 113 118
Composite Pmi 51.80
52.35 53 53.3 53.6 53
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Household Spending 23.30
percent
31.13 26.5 31.68 28.35 28.74
Gasoline Prices 1.03
USD/Liter
1.05 0.99 0.94 0.88 0.7
Bank Lending Rate 34.50
percent
34.5 34.5 34.5 34 33.5
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