The Gross Domestic Product (GDP) in Ghana expanded 1.20 percent in the first quarter of 2020 over the previous quarter.

GDP Growth Rate in Ghana averaged 1.61 percent from 2006 until 2020, reaching an all time high of 7.40 percent in the first quarter of 2011 and a record low of -2.20 percent in the fourth quarter of 2008. This page provides the latest reported value for - Ghana GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Ghana GDP Growth Rate - values, historical data and charts - was last updated on October of 2020.

GDP Growth Rate in Ghana is expected to be -0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Ghana to stand at 1.00 in 12 months time. In the long-term, the Ghana GDP Growth Rate is projected to trend around 1.30 percent in 2021 and 1.80 percent in 2022, according to our econometric models.

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Ghana GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.20 1.90 7.40 -2.20 2006 - 2020 percent Quarterly
Constant Prices 2013, SA


Ghana GDP 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.