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Concept
Economy of Ghana
Summary
Infobox economy
| country = Ghana
| image_size = 340px
| image = Economy of Ghana.JPG
| caption = Industries of the Republic of Ghana
| currency = Cedi (GHS, GH₵)
| fixed exchange =
| year = Calendar year
| organs = AU, AfCFTA, WTO, ECOWAS
| group =
| population = 33,346,450 (2023)
| gdp =
| gdp rank =
| growth =
| per capita =
| per capita rank =
| sectors =
| components =
| inflation = 41.2% (2023 est.)
| poverty =
| gini = 43.5 (2016)
| hdi =
| labor force =
| labor occupations =
| unemployment =
| edbr = 118th (medium, 2020)
| industries = mining, lumbering, light manufacturing, aluminum smelting, food processing, cement, small commercial ship building, petroleum
| exports = $14.1 billion (2021 est.)
| export-goods =
The economy of Ghana has a diverse and rich resource base, including the manufacturing and exportation of digital technology goods, automotive and ship construction and exportation, and the exportation of diverse and rich resources such as hydrocarbons and industrial minerals. These have given Ghana one of the highest GDP per capita in West Africa. Owing to a GDP rebasement, in 2011 Ghana became the fastest-growing economy in the world.
The Ghanaian domestic economy in 2012 revolved around services, which accounted for 50% of GDP and employed 28% of the work force. Besides the industrialization associated with minerals and oil, industrial development in Ghana remains basic, often associated with plastics (such as for chairs, plastic bags, razors and pens). 53.6% of Ghana's workforce were employed in agriculture in 2013.
Ghana embarked on a currency re-denomination exercise, from Cedi (₵) to the new currency, the Ghana Cedi (GH₵) in July 2007. The transfer rate is 1 Ghana Cedi for every 10,000 Cedis.
Ghana is Africa's largest gold producer, after overtaking South Africa in 2019 and second-largest cocoa producer (after Ivory Coast). It is also rich in diamonds, manganese or manganese ore, bauxite, and oil. Most of its debt was canceled in 2005, but government spending was later allowed to balloon.
Official source
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