The economy of Ghana grew 3.3% year-on-year in the fourth quarter of 2020, following an upwardly revised 3.2% contraction in the previous period, as some activities picked up following some easing of COVID-19 restrictions. Agriculture activity expanded significantly (8.2% percent vs 4.9% percent in Q3), mainly driven by output increases in crops & cocoa (10.6% vs 5.2%). In addition, services rebounded from two consecutive quarters of contraction (4.6% vs -3.3%), boosted by trade; repair of vehicles, household goods (5.5% vs -11.4%) and in real estate (43.5% vs -6.6%). At last, output in the industrial sector declined at a much softer pace (-0.4% vs -7.2%), a trend also recorded in mining (-10.9% vs -12.4%), and in oil & gas (-9.8% vs -10.8%). Considering full 2020, Ghana’s economy grew 0.4%, steamed by a last quarter recovery, but considerably below the5.8% in the previous year. source: Ghana Statistical Service
GDP Annual Growth Rate in Ghana averaged 6.26 percent from 2000 until 2020, reaching an all time high of 25 percent in the first quarter of 2012 and a record low of -5.90 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 April of 2021.
GDP Annual Growth Rate in Ghana is expected to be 3.80 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 5.10 in 12 months time. In the long-term, the Ghana GDP Annual Growth Rate is projected to trend around 6.00 percent in 2022 and 5.00 percent in 2023, according to our econometric models.