Ghana

Ghana is well endowed with natural resources and agriculture accounts for roughly one-third of GDP and employs more than half of the workforce, mainly small landholders. The services sector accounts for 50% of GDP. Gold and cocoa production and individual remittances are major sources of foreign exchange. Oil production at Ghana’s offshore Jubilee field began in mid-December and is expected to boost economic growth. Ghana signed a Millennium Challenge Corporation (MCC) Compact in 2006, which aims to assist in transforming Ghana’s agricultural sector. Ghana opted for debt relief under the Heavily Indebted Poor Country (HIPC) program in 2002, and is also benefiting from the Multilateral Debt Relief Initiative that took effect in 2006. In 2009 Ghana signed a three-year Poverty Reduction and Growth Facility with the IMF to improve macroeconomic stability, private sector competitiveness, human resource development, and good governance and civic responsibility. Sound macro-economic management along with high prices for gold and cocoa helped sustain GDP growth in 2008-10. In early 2010 President John Atta MILLS targeted recovery from high inflation and current account and budget deficits as his priorities.

$38.24 billion (2010 est.)

$36.53 billion (2009 est.)

$35.09 billion (2008 est.)

$18.06 billion (2010 est.)

4.7% (2010 est.)

4.1% (2009 est.)

7.3% (2008 est.)

$1,600 (2010 est.)

$1,500 (2009 est.)

$1,500 (2008 est.)

10.56 million (2010 est.)

11% (2000 est.)

28.5% (2007 est.)

39.4 (2005-06)

40.7 (1999)

39.8% of GDP (2010 est.)

59.9% of GDP (2010 est.)

55.2% of GDP (2009 est.)

10.9% (2010 est.)

19.3% (2009 est.)

18% (31 December 2009)

17% (31 December 2008)

NA% (31 December 2009 est.)

NA% (31 December 2008 est.)

$6.26 billion (31 December 2010 est)

$5.203 billion (31 December 2009 est)

$9.583 billion (31 December 2010 est.)

$7.823 billion (31 December 2009 est.)

$7.155 billion (31 December 2010 est.)

$6.987 billion (31 December 2009 est.)

$2.508 billion (31 December 2009)

$3.394 billion (31 December 2008)

$2.38 billion (31 December 2007)

cocoa, rice, cassava (tapioca), peanuts, corn, shea nuts, bananas; timber

mining, lumbering, light manufacturing, aluminum smelting, food processing, cement, small commercial ship building

5% (2010 est.)

6.746 billion kWh (2007 est.)

5.702 billion kWh (2007 est.)

249 million kWh (2007 est.)

435 million kWh (2007 est.)

7,081 bbl/day (2009 est.)

57,000 bbl/day (2009 est.)

4,843 bbl/day (2007 est.)

45,380 bbl/day (2007 est.)

15 million bbl (1 January 2010 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

22.65 billion cu m (1 January 2010 est.)

-$1.871 billion (2010 est.)

-$1.199 billion (2009 est.)

$7.326 billion (2010 est.)

$5.84 billion (2009 est.)

gold, cocoa, timber, tuna, bauxite, aluminum, manganese ore, diamonds, horticulture

Netherlands 13.45%, UK 7.87%, France 5.85%, Ukraine 5.84%, Malaysia 3.97% (2009)

$10.18 billion (2010 est.)

$8.046 billion (2009 est.)

capital equipment, petroleum, foodstuffs

China 16.8%, Nigeria 11.88%, US 6.63%, Cote d’Ivoire 5.99%, India 5.57%, France 5.09%, UK 4.23% (2009)

$3.8 billion (31 December 2010 est.)

$3.165 billion (31 December 2009 est.)

$6.483 billion (31 December 2010 est.)

$5.427 billion (31 December 2009 est.)

$NA

$NA

cedis (GHC) per US dollar - 1.4 (2010), 1.4 (2009), 1.1 (2008), 0.95 (2007), 9,174.8 (2006)