Ghana

Description of Ghana

Ghana, situated on the western coast of Africa, has emerged as a beacon of stability and progress in the region. With a rich history, vibrant culture, and a growing economy, Ghana presents a compelling case study for the intersection of tradition and modernity. From its bustling capital city of Accra to the lush landscapes of the Ashanti region, Ghana offers a diverse tapestry of experiences for locals and visitors alike. As a key player in the sub-Saharan region, Ghana's strategic location and robust economic growth make it a fascinating subject for analysis in the fields of geopolitics, macroeconomics, and beyond.

Population And Age Structure

Population, total: Ghana's total population is 32,180,401, which is below the average population of 40,097,746. Ghana ranks 47th out of 194 countries in total population.

Population ages 0-14 (% of total population): With 37.58% of the population aged 0-14, Ghana is above the average of 27.34%. Ghana ranks 46th out of 194 countries in this age group.

Population ages 0-14, total: Ghana has 12,093,914 individuals aged 0-14, which is higher than the average of 10,327,380. Ghana ranks 31st out of 194 countries in this age category.

Population ages 15-64 (% of total population): Ghana's population aged 15-64 accounts for 59.01% of the total population, below the average of 63.44%. Ghana ranks 144th out of 194 countries in this age bracket.

Population ages 15-64, total: The total population of individuals aged 15-64 in Ghana is 18,990,581, lower than the average of 26,003,407. Ghana ranks 45th out of 194 countries in this group.

Population ages 65 and above (% of total population): Ghana's population aged 65 and above makes up 3.41% of the total population, significantly lower than the average of 9.22%. Ghana ranks 148th out of 194 countries in this demographic.

Population ages 65 and above, total: In Ghana, there are 1,095,906 individuals aged 65 and above, much lower than the average of 3,766,959. Ghana ranks 66th out of 194 countries in this age group.

Summary

Ghana's population of 32,180,401 ranks it 47th globally, below the average global population. However, it has a higher percentage of individuals aged 0-14 and a lower percentage of individuals aged 15-64 and 65 and above compared to the global averages. These demographic indicators are crucial for policymakers and investors to understand the country's age distribution, workforce potential, and potential needs for healthcare and social services.

Population Miscellaneous

1. Rural population: Ghana's rural population is 13,725,263, below the average of 18,044,041. Ghana ranks 38 out of 190 countries in this attribute data.

2. Rural population (% of total population): With 42.651% of its population living in rural areas, Ghana is above the average of 41.158%. Ghana ranks 87 out of 190 countries in this attribute data.

3. Urban population: Ghana's urban population is 18,455,138, below the average of 22,425,747. Ghana ranks 42 out of 194 countries in this attribute data.

4. Urban population (% of total population): Ghana has 57.349% of its population residing in urban areas, below the average of 59.691%. Ghana ranks 108 out of 194 countries in this attribute data.

5. Age dependency ratio (% of working-age population): Ghana's ratio is 69.45%, above the average of 59.22%. Ghana ranks 51 out of 194 countries in this attribute data.

6. Birth rate, crude (per 1,000 people): Ghana's crude birth rate is 28.038 per 1,000 people, higher than the average of 19.384. Ghana ranks 43 out of 192 countries in this attribute data.

7. Death rate, crude (per 1,000 people): Ghana's crude death rate is 7.448 per 1,000 people, below the average of 8.214. Ghana ranks 102 out of 192 countries in this attribute data.

8. Fertility rate, total (births per woman): Ghana's total fertility rate is 3.623 births per woman, above the average of 2.603. Ghana ranks 41 out of 190 countries in this attribute data.

Summary

Ghana exhibits a higher rural population (% of total population) and urban population (% of total population) compared to the global averages. The country also has a higher age dependency ratio and fertility rate, indicating a relatively younger population with higher potential for future growth but also highlighting the importance of policies that support and plan for this demographic trend.

Military

Regarding Military expenditure (current USD), Ghana's expenditure is significantly lower than the average, standing at $239,887,164.28. With a rank of 106 out of 149 countries, Ghana's military spending is below average.

For Military expenditure (% of GDP), Ghana's value is 0.35, considerably below the average of 1.90%. Ghana ranks 144 out of 148 countries in this aspect.

In terms of Arms imports (SIPRI trend indicator values), Ghana's value is $10,000,000, much lower than the average of $205,522,123.89. Ghana ranks 82 out of 113 countries in this category.

When it comes to Armed forces personnel, total, Ghana has 16,000 personnel, below the average of 165,908.54. Ghana ranks 113 out of 164 countries in this regard.

Lastly, in Armed forces personnel (% of total labor force), Ghana's value of 0.12 is significantly lower than the average of 1.28%. With a rank of 158 out of 164 countries, Ghana has fewer armed forces personnel as a percentage of the total labor force compared to the average.

Summary

Ghana's military expenditure, as well as its arms imports and armed forces personnel, are notably below global averages. This suggests that Ghana prioritizes other sectors over military spending and maintains a smaller military presence compared to many countries. These findings are important as they indicate Ghana's focus on alternative areas of development and its relatively lower emphasis on defense and security compared to the global average.

Natural Resources

1. Ghana's forest area is 79,857.1 sq. km, which is below the average of 211,606.11 sq. km. Ghana ranks 60 out of 191 countries in this attribute.

2. Ghana's land area is 227,533 sq. km, below the average of 665,166.51 sq. km. Ghana ranks 81 out of 194 countries in this attribute.

3. Ghana's surface area is 238,530 sq. km, lower than the average of 689,779.56 sq. km. Ghana ranks 80 out of 194 countries in this attribute.

4. Ghana has 4,709,900 hectares of arable land, below the average of 7,329,543.16 hectares. Ghana ranks 50 out of 190 countries in this attribute.

5. The land under cereal production in Ghana is 1,923,044 hectares, lower than the average of 4,206,011.63 hectares, with a ranking of 56 out of 174 countries.

6. Ghana's average precipitation is 1,187 mm per year, slightly above the average of 1,157.83 mm per year. Ghana ranks 73 out of 178 countries in this attribute.

7. Ghana's renewable internal freshwater resources total 30.3 billion cubic meters, significantly below the average of 240.41 billion cubic meters. Ghana ranks 93 out of 178 countries in this attribute.

Summary

Ghana's key macroeconomic indicators reveal challenges in its natural resource availability such as forest area, land area, arable land, and freshwater resources, where it ranks below global averages. These statistics are crucial as they directly impact Ghana's agricultural productivity, environmental sustainability, and water security. Addressing these gaps through sustainable resource management policies and practices is essential for ensuring long-term economic growth and development in Ghana.

Resource Rents

- Total natural resources rents (% of GDP): Ghana's value of 8.49% is higher than the average of 4.63%. Ghana ranks 37th out of 175 countries in this attribute.
- Forest rents (% of GDP): Ghana's value of 3.80% is above the average of 1.53%. Ghana ranks 22nd out of 174 countries in this attribute.
- Oil rents (% of GDP): Ghana's value of 2.25% is below the average of 2.51%. Ghana ranks 27th out of 117 countries in this attribute.
- Natural gas rents (% of GDP): Ghana's value of 0.20% is below the average of 1.25%. Ghana ranks 43rd out of 96 countries in this attribute.
- Mineral rents (% of GDP): Ghana's value of 2.24% is above the average of 1.23%. Ghana ranks 17th out of 86 countries in this attribute.

Summary

Ghana has significant natural resource rents compared to the global average across various sectors such as forests, oil, minerals, and natural gas. Despite not always surpassing the global average in each category, Ghana consistently ranks relatively high among countries worldwide. This is important as it indicates the country's strong resource endowment, which can be leveraged for economic development and potentially attract investments in these key sectors, contributing to Ghana's GDP growth and overall economic prosperity.

Commodities

1. Cereal production in Ghana is 4,636,040.87 metric tons, significantly below the average of 17,249,945.93 metric tons. Ghana ranks 60th out of 174 countries in this category.

2. Aquaculture production in Ghana is 64,010 metric tons, much lower than the average of 679,642.92 metric tons. Ghana ranks 43rd out of 180 countries for this attribute.

3. Capture fisheries production in Ghana is 370,969.15 metric tons, below the average of 467,453.06 metric tons. Ghana ranks 42nd out of 190 countries in this aspect.

4. Total fisheries production in Ghana is 434,979.15 metric tons, well under the average of 1,153,914.85 metric tons. Ghana ranks 41st out of 182 countries for total fisheries production.

5. Fertilizer consumption in Ghana is 50.11 kilograms per hectare of arable land, lower than the average of 159.04 kilograms per hectare. Ghana is ranked 121st out of 187 countries in terms of fertilizer consumption.

Summary

Ghana's agricultural sector shows below-average performance in key areas such as cereal production, aquaculture production, capture fisheries production, and total fisheries production. Additionally, the country lags behind in fertilizer consumption compared to the global average. These indicators are important as they highlight areas where Ghana may need to focus on improving productivity and efficiency to enhance food security, economic growth, and sustainability in the agricultural sector.

Intellectual Property

Industrial design applications, nonresident, by count: Ghana's value of 128 is below the average of 1415.83. It ranks 70th out of 112 countries in the dataset.
Industrial design applications, resident, by count: Ghana's value of 924 is below the average of 9799.58. It ranks 31st out of 113 countries in the dataset.
Patent applications, nonresidents: Ghana's value of 8 is significantly below the average of 6538.40. It ranks 101st out of 129 countries in the dataset.
Patent applications, residents: Ghana's value of 12 is significantly below the average of 19037.56. It ranks 95th out of 117 countries in the dataset.
Trademark applications, nonresident, by count: Ghana's value of 4489 is below the average of 15878.93. It ranks 72nd out of 130 countries in the dataset.
Trademark applications, resident, by count: Ghana's value of 858 is well below the average of 111055.78. It ranks 99th out of 129 countries in the dataset.
Scientific and technical journal articles: Ghana's value of 2106.28 is below the average of 15103.76. It ranks 69th out of 192 countries in the dataset.
Charges for the use of intellectual property, payments: Ghana's value of 156,694,904.52 is significantly below the average of 3,218,843,494.39. It ranks 62nd out of 143 countries in the dataset.
Charges for the use of intellectual property, receipts: Ghana's value of 46,229,218.57 is significantly below the average of 3,191,687,117.58. It ranks 52nd out of 122 countries in the dataset.

Summary

Ghana ranks below average in various key macroeconomic indicators related to industrial design applications, patent applications, trademark applications, scientific and technical journal articles, and charges for the use of intellectual property. These low rankings signify a potential lack of innovation, research and development investments, and utilization of intellectual property in Ghana's economy, highlighting areas that may require focus and improvement for sustained growth and competitiveness in the global market.

Broad Economy Attributes

- GDP (current US$): Ghana's GDP is $70.04 billion, below the average GDP of $442.87 billion. Ghana ranks 71 out of 189 countries.

- GDP, PPP (current international $): Ghana's GDP, PPP is $178.87 billion, well below the average of $734.14 billion. Ghana ranks 70 out of 181 countries.

- GDP per capita (current US$): Ghana's GDP per capita is $2176.58, significantly lower than the average of $15462.11. Ghana ranks 141 out of 190 countries.

- GDP per capita, PPP (current international $): Ghana's GDP per capita, PPP is $5558.36, below the average of $21251.89. Ghana ranks 129 out of 181 countries.

- GNI (current US$): Ghana's GNI is $70.78 billion, below the average GNI of $452.04 billion. Ghana ranks 67 out of 185 countries.

- GNI, PPP (current international $): Ghana's GNI, PPP is $180.74 billion, well below the average of $730.70 billion. Ghana ranks 69 out of 181 countries.

- GNI per capita, PPP (current international $): Ghana's GNI per capita, PPP is $5620, significantly lower than the average of $20615.75. Ghana ranks 131 out of 181 countries.

Summary

Overall, Ghana's macroeconomic indicators show that the country lags behind in terms of GDP, GDP per capita, and GNI compared to the global average. This indicates a lower level of economic development in Ghana relative to other countries. These indicators are crucial as they reflect the standard of living, economic productivity, and overall wealth of the nation, highlighting areas that may require attention for future growth and development.

Broad Value Added

1. Gross value added at basic prices (GVA) (current US$): Ghana's GVA is $65,783,576,765.32, ranking 65th out of 176 countries. The focus country's GVA is below the average of $360,070,943,595.12.

2. Agriculture, forestry, and fishing, value added (% of GDP): Ghana's value added is 18.85% of GDP, ranking 41st out of 182 countries. The country performs above the average of 10.86%.

3. Agriculture, forestry, and fishing, value added (current US$): Ghana's value added is $13,205,772,995.75, placing it 40th out of 182 countries. The focus country's value is below the average of $19,924,732,828.07.

4. Services, value added (% of GDP): Ghana's services value added accounts for 45.19% of GDP, ranking 153rd out of 183 countries. The value is below the average of 56.72%.

5. Services, value added (current US$): Ghana's services value added is $31,651,200,268.25, ranking 77th out of 183 countries. It is below the average of $295,837,711,130.69.

6. Industry (including construction), value added (current US$): Ghana's industry value added is $20,926,603,501.32, placing it 68th out of 183 countries. The focus country's value is significantly below the average of $118,421,095,413.50.

Summary

Ghana's Gross Value Added at basic prices and sectoral contributions indicate a mixed economic performance. While the country lags behind the global average in GVA and industry value added, it performs above average in agriculture but below average in services as a percentage of GDP. These statistics are crucial as they highlight Ghana's strengths and weaknesses in different sectors, guiding policymakers in developing strategies to further diversify and strengthen the economy.

Manufacturing Value Added

For Manufacturing, value added (current US$), Ghana's value is $7,671,859,368.46. This is significantly below the attribute average of $76,207,179,589.66. Ghana ranks 71st out of 173 countries in this attribute data.

Regarding Manufacturing, value added (% of GDP), Ghana's value is 10.95%, which is slightly below the attribute average of 11.90%. Ghana ranks 93rd out of 173 countries for this indicator.

For Medium and high-tech manufacturing value added (% of manufacturing value added), Ghana's value is 10.84%, well below the attribute average of 24.49%. Ghana is ranked 111th out of 149 countries in this category.

Summary

Ghana's manufacturing sector, as indicated by both the total value added and its contribution to the GDP, lags behind the global average, ranking 71st and 93rd respectively out of 173 countries. Particularly concerning is the low percentage of medium and high-tech manufacturing value added, where Ghana ranks 111th out of 149 countries. These statistics highlight the need for Ghana to enhance its manufacturing capabilities and transition towards more advanced and technology-driven production processes to boost economic growth and competitiveness on a global scale.

Money

1. Inflation, consumer prices (annual %): Ghana's inflation rate of 9.89% is higher than the average of 8.26%. Ghana ranks 16th out of 165 countries in this attribute data.

2. Inflation, GDP deflator (annual %): Ghana's inflation rate by GDP deflator is 9.37%, above the average of 6.90%. Ghana is ranked 21st out of 188 countries in this attribute dataset.

3. Broad money growth (annual %): Ghana's broad money growth rate is 28.36%, significantly surpassing the average of 18.03%. Ghana ranks 10th out of 139 countries in this metric.

4. Broad money (% of GDP): Ghana's broad money as a percentage of GDP stands at 30.82%, below the average of 71.75%. Ghana ranks 122nd out of 139 countries for this indicator.

5. Broad money to total reserves ratio: Ghana's ratio is 2.74, lower than the average of 5.17. Ghana is ranked 64th out of 126 countries in this measure.

Summary

Ghana's macroeconomic indicators reveal a mixed picture. While the country exhibits high inflation rates both in consumer prices and by GDP deflator, its broad money growth is robust, outperforming the global average. However, Ghana lags behind in the broad money as a percentage of GDP and broad money to total reserves ratio, indicating potential challenges in financial stability and reserves management.

These indicators are crucial as they provide insights into Ghana's economic health and stability. High inflation rates may indicate pressure on consumer purchasing power and overall economic performance. On the other hand, strong broad money growth signifies economic activity but must be managed efficiently to ensure long-term stability and resilience against external shocks.

Consumption Expenditure

Final consumption expenditure (current US$): Ghana's final consumption expenditure is $59,747,454,421.53, which is below the average of $381,630,252,515.38. Ghana ranks 65 out of 159 countries in this category.

Final consumption expenditure (% of GDP): Ghana's final consumption expenditure as a percentage of GDP is 85.30%, slightly above the average of 82.37%. Ghana ranks 61 out of 159 countries in this category.

General government final consumption expenditure (current US$): Ghana's government expenditure is $5,486,762,956.76, significantly below the average of $93,676,578,238.03. Ghana ranks 84 out of 158 countries in this category.

General government final consumption expenditure (% of GDP): Ghana's government expenditure as a percentage of GDP is 7.83%, well below the average of 18.71%. Ghana ranks 150 out of 158 countries in this category.

Household and NPISHs final consumption expenditure (current US$): Ghana's household and NPISHs expenditure is $54,260,691,482.63, below the average of $290,127,571,157.69. Ghana ranks 63 out of 158 countries in this category.

Households and NPISHs final consumption expenditure (% of GDP): Ghana's household and NPISHs expenditure as a percentage of GDP is 77.47%, above the average of 63.68%. Ghana ranks 31 out of 158 countries in this category.

Summary

In summary, Ghana's final consumption expenditure in both absolute terms and as a percentage of GDP is below the global average. The government expenditure is significantly lower than the average, impacting its ranking position among countries. However, the household and NPISHs expenditure as a percentage of GDP is relatively higher, indicating a significant contribution to overall consumption. These findings are important as they reflect Ghana's economic structure, government spending priorities, and the role of households in driving consumption and economic activity.

Equities

- Listed domestic companies, total: Ghana has 31 listed domestic companies, significantly below the attribute average of 636.625. This places Ghana at rank 58 out of 72 countries.

- Stocks traded, total value (current US$): Ghana's total value of stocks traded is $32,660,000, much lower than the attribute average of $1,379,501,820.91. Ghana ranks 63 out of 71 countries in this aspect.

- Stocks traded, total value (% of GDP): With stocks traded valued at 0.0466% of GDP, Ghana falls below the attribute average of 31.65%. This places Ghana at rank 68 out of 71 countries.

- Market capitalization of listed domestic companies (current US$): The market capitalization of listed domestic companies in Ghana amounts to $9,247,430,000, well below the attribute average of $1,196,037,851,618.88. Ghana is ranked 55 out of 73 countries for this metric.

- Market capitalization of listed domestic companies (% of GDP): Ghana's market capitalization of listed domestic companies is 13.20% of GDP, much lower than the attribute average of 71.24%. Ghana is ranked 62 out of 73 countries in this aspect.

- S&P Global Equity Indices (annual % change): Ghana experienced a -17.42% change in the S&P Global Equity Indices, significantly below the average change of 2.06%. This places Ghana at rank 70 out of 79 countries.

Summary

Ghana's macroeconomic indicators reveal a relatively underdeveloped stock market and limited capitalization of listed domestic companies compared to the global average. The country ranks low in terms of listed domestic companies, total value of stocks traded, market capitalization of listed domestic companies, and S&P Global Equity Indices change. These indicators are crucial as they signify the depth and activity level of Ghana's financial markets, impacting its attractiveness to investors and its ability to mobilize domestic capital for economic growth.

Investment

Foreign direct investment, net (BoP, current US$): In Ghana, the focus country value is -1333368957.18, which is higher than the attribute average of -1615235980.51. Ghana ranks 121 out of 169 countries in this data set.

Foreign direct investment, net inflows (BoP, current US$): Ghana's focus country value is 1875782953.47, significantly below the attribute average of 5749271080.15. Ghana ranks 53 out of 182 countries in this dataset.

Foreign direct investment, net inflows (% of GDP): Ghana's focus country value is 2.68, slightly higher than the attribute average of 2.61. The country stands at rank 70 out of 178 nations in this metric.

Foreign direct investment, net outflows (BoP, current US$): Ghana's focus country value is 542413996.29, considerably lower than the attribute average of 5707991116.07. Ghana ranks 48 out of 156 countries in this dataset.

Foreign direct investment, net outflows (% of GDP): Ghana's focus country value is 0.77, below the attribute average of 1.00. Ghana is ranked 40 out of 155 countries in this context.

Portfolio Investment, net (BoP, current US$): In Ghana, the focus country value is -1561195489.84, significantly below the attribute average of 679559169.57. Ghana ranks 128 out of 159 countries in this category.

Portfolio investment, bonds (PPG + PNG) (NFL, current US$): Ghana's focus country value is 2807732000, falling below the attribute average of 4134263915.25. Ghana holds the 13th position out of 59 countries in this attribute.

Summary

In analyzing key macroeconomic indicators for Ghana, it is evident that the country has a mixed performance in terms of foreign direct investment and portfolio investment. While Ghana ranks relatively lower in net FDI compared to the global average, it shows potential for improvement in net portfolio investment in bonds. These indicators are crucial as they highlight Ghana's attractiveness to foreign investors and its ability to generate investment returns, which are essential for sustainable economic growth and development.

Debt

- Total debt service (% of GNI): Ghana's value of 3.68% is below the average of 5.98%. Ghana ranks 64 out of 120 countries in this attribute.
- Public and publicly guaranteed debt service (% of GNI): Ghana's value of 3.46% is above the average of 2.84%. Ghana ranks 38 out of 120 countries in this attribute.
- External debt stocks (% of GNI): Ghana's value of 57.43% is below the average of 65.42%. Ghana ranks 53 out of 120 countries in this attribute.
- Debt service on external debt, total (TDS, current US$): Ghana's value of $2,604,427,951.1 is below the average of $9,811,195,839.23. Ghana ranks 42 out of 123 countries in this attribute.
- Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Ghana's value of $2,448,851,718 is below the average of $3,310,612,057.60. Ghana ranks 28 out of 123 countries in this attribute.
- External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Ghana's value of $22,889,948,117.20 is below the average of $28,695,879,145.98. Ghana ranks 33 out of 123 countries in this attribute.
- External debt stocks, private nonguaranteed (PNG) (DOD, current US$): Ghana's value of $9,972,603,000 is below the average of $33,734,699,285.22. Ghana ranks 35 out of 91 countries in this attribute.
- External debt stocks, total (DOD, current US$): Ghana's value of $40,647,060,280.20 is below the average of $73,845,530,111.82. Ghana ranks 33 out of 123 countries in this attribute.

Summary

Ghana maintains a relatively low total debt service (% of GNI) compared to the global average, ranking 64th out of 120 countries. However, the country's public and publicly guaranteed debt service (% of GNI) exceeds the average, placing Ghana at 38th position. Despite having lower external debt stocks (% of GNI) than average, Ghana ranks 53rd in this aspect. These statistics are vital as they indicate Ghana's debt repayment obligations, fiscal sustainability, and its standing in the global debt landscape. Managing debt levels effectively is crucial for maintaining economic stability and investor confidence.

Broad Trade Attributes

Trade (% of GDP): Ghana's trade as a percentage of its GDP is below the global average, ranking 86th out of 163 countries. The country's trade value is 66.58% compared to the average of 82.34%.

Merchandise trade (% of GDP): Ghana's merchandise trade as a percentage of GDP is also below average, ranking 140th out of 186 countries. With a value of 38.41%, Ghana falls short of the average of 60.01%.

Trade in services (% of GDP): Ghana performs better in trade in services, with a value of 28.16% above the global average of 24.63%. The country ranks 37th out of 171.

External balance on goods and services (current US$): Ghana has a negative balance of goods and services in current US dollars. The country's balance of -2.47 billion US dollars is significantly below the average of 3.41 billion US dollars, ranking 122nd out of 163 countries.

External balance on goods and services (% of GDP): Ghana's external balance as a percentage of GDP is better than the average, with a value of -3.52% compared to the average of -5.97%. Ghana ranks 85th out of 163 countries in this aspect.

Summary

Ghana exhibits a mixed performance in key macroeconomic indicators related to trade. While the country's overall trade, merchandise trade, and external balance on goods and services in US dollars fall below global averages, it excels in trade in services and has a better external balance as a percentage of GDP compared to the average. These indicators are crucial as they reflect Ghana's position in the global economy, its competitiveness in both goods and services sectors, and its ability to maintain a sustainable balance in international trade.

Net Trade

- Ghana's current account balance is below average, ranking 132 out of 170 countries. This indicates a deficit in the country's international trade.

- Ghana's current account balance as a percentage of GDP is also below average, with a rank of 105 out of 170 countries. This shows that the country's GDP is not generating enough income to cover its international transactions.

- Ghana's net trade in goods and services is significantly below the average, ranking 124 out of 171 countries. This suggests a trade deficit in the exchange of goods and services.

- Ghana's net primary income is far below the average, with a rank of 134 out of 170 countries. This signifies a significant outflow of income from primary income sources.

- Ghana's net secondary income is notably above average, ranking 30 out of 170 countries. This may indicate strong inflows of secondary income sources such as remittances.

- Ghana's net trade in goods is above average, ranking 46 out of 171 countries. This indicates a surplus in the trade of goods specifically.

- Ghana's net capital account is above average, with a rank of 39 out of 159 countries, showing a net inflow of capital into the country.

- Ghana's net financial account shows a significant deficit compared to the average, ranking 134 out of 170 countries. This suggests an outflow of financial assets from the country.

Summary

Overall, Ghana's macroeconomic indicators reveal several concerning trends, including deficits in the current account balance, current account balance as a percentage of GDP, net trade in goods and services, and net primary income. However, there are also positive aspects such as a surplus in the trade of goods, strong inflows of secondary income, and a net inflow of capital into the country. These indicators are important as they highlight Ghana's reliance on external sources of income, the need to boost domestic production and exports, and the significance of foreign investments in the country's economy.

Broad Export Attributes

- Exports of goods, services, and primary income: Ghana's value of $22,815,524,181.15 is below the average of $146,238,908,936.30, ranking 70th out of 170 countries.

- Exports of goods and services: Ghana's value of $22,077,073,356.35 is below the average of $122,938,540,059.78, ranking 69th out of 170 countries.

- Exports of goods and services: Ghana's value of $22,081,380,379.44 is below the average of $129,596,864,610.19, ranking 68th out of 163 countries.

- Exports of goods and services (% of GDP): Ghana's value of 31.53% is below the average of 38.19%, ranking 75th out of 163 countries.

- Goods exports: Ghana's value of $14,471,527,062.74 is below the average of $93,310,581,697.39, ranking 70th out of 171 countries.

- International tourism receipts (% of total exports): Ghana's value of 0.87% is significantly below the average of 9.74%, ranking 109th out of 120 countries.

Summary

Ghana's export performance across various indicators reveals that the country is below average compared to a global scale, ranking relatively low in terms of export values and proportions. This indicates a potential challenge in leveraging its exports to drive economic growth and development. Particularly noteworthy is Ghana's significantly low international tourism receipts as a percentage of total exports, highlighting a potential area for growth and diversification in the country's economy.

Merchandise Exports

For Merchandise exports (current US$), Ghana's value is $14,472,000,000. This is below the attribute average of $89,542,711,229.95. Ghana ranks 73 out of 187 countries in this category.

Regarding Merchandise exports by the reporting economy, residual (% of total merchandise exports), Ghana's value is 0.0926. This is significantly below the attribute average of 3.20. Ghana ranks 108 out of 166 countries in this category.

Summary

In terms of Merchandise exports (current US$), Ghana's value of $14,472,000,000 falls far below the attribute average of $89,542,711,229.95, ranking it 73rd out of 187 countries. Additionally, Ghana's low residual value of 0.0926 for Merchandise exports as a percentage of total merchandise exports places it well below the average of 3.20, ranking 108th out of 166 countries.

These findings are crucial indicators of Ghana's performance in global trade. The significantly low values suggest that Ghana may face challenges in competing internationally and maximizing its export potential. Addressing these issues is vital for Ghana's economic growth, trade sustainability, and competitiveness in the global market.

Technology Exports

Medium and high-tech exports (% of manufactured exports): Ghana's value for this attribute is 10.56%, which is significantly below the average value of 34.29%. Ghana ranks 117 out of 149 countries in this data set.

Summary

Ghana's medium and high-tech exports account for only 10.56% of its total manufactured exports, well below the average of 34.29%. This low percentage ranks Ghana 117th out of 149 countries. This indicates a potential lack of technological advancement and innovation in Ghana's manufacturing sector, which could hinder its competitiveness in the global market and overall economic growth.

Service Exports

1. Service exports (BoP, current US$): Ghana's value of $7,605,546,293.61 for this attribute is below the average of $28,917,292,503.82. Ghana ranks 58th out of 171 countries in the dataset.

2. ICT service exports (BoP, current US$): Ghana's value of $121,816,372.91 is significantly lower than the average of $4,578,501,153.77. The country is ranked 92nd out of 166 countries.

3. ICT service exports (% of service exports, BoP): Ghana's value of 1.60% is well below the average of 11.75%. Ghana is ranked 148th out of 166 countries in this aspect.

4. Communications, computer, etc. (% of service exports, BoP): Ghana's value of 80.28% is much higher than the average of 45.85%. The country ranks 12th out of 169 countries.

5. Transport services (% of service exports, BoP): Ghana's value of 6.80% is below the average of 21.80%. The country ranks 133rd out of 169 countries.

6. Travel services (% of service exports, BoP): Ghana's value of 1.45% is significantly lower than the average of 26.40%. Ghana ranks 163rd out of 167 countries for this attribute.

7. Insurance and financial services (% of service exports, BoP): Ghana's value of 11.48% is higher than the average of 6.46%. The country is ranked 25th out of 161 countries.

Summary

Overall, Ghana's service exports, ICT service exports, and various service components as a percentage of total service exports are below average compared to other countries in the dataset. Particularly notable is Ghana's high percentage of Communications, computer, etc. services within its total service exports, ranking 12th out of 169 countries. These findings are important as they highlight areas where Ghana may need to focus on improving competitiveness and diversification within its service exports sector to better align with global trends and standards.

Commercial Service Exports

Commercial service exports in Ghana amount to $7,588,950,700.39, ranking 59 out of 171 countries. This is below the average of $28,508,218,402.80.

Travel services account for 1.45% of Ghana's commercial service exports. This places Ghana at rank 165 out of 167 countries, significantly below the average of 27.89%.

Ghana's computer, communications, and other services constitute 80.23% of its commercial service exports, ranking 9 out of 169 countries. This is notably higher than the average of 42.44%.

The country's insurance and financial services represent 11.51% of its commercial service exports, placing Ghana at rank 28 out of 161 countries. This is higher than the average of 6.97%.

Transport services make up 6.81% of Ghana's commercial service exports, positioning the country at rank 136 out of 169 countries. This is below the average of 23.37%.

Summary

In summary, Ghana relies heavily on computer, communications, and other services, which make up a significant portion of its commercial service exports. However, the country lags behind in travel services and transport services exports compared to the global average. This indicates a potential for diversification in export offerings to strengthen the country's economic resilience and reduce dependency on specific sectors.

Broad Import Attributes

1. Imports of goods and services (current US$): Ghana's value of $24.55 billion is below the average of $126.19 billion. Ghana ranks 66th out of 163 countries in this aspect.

2. Imports of goods and services (% of GDP): Ghana's value of 35.05% is below the average of 44.15%. Ghana ranks 92nd out of 163 countries in this category.

3. International tourism, expenditures (% of total imports): Ghana's expenditure percentage of 3.85% is slightly below the average of 3.98%. Ghana ranks 46th out of 131 countries in this metric.

4. Goods imports (BoP, current US$): Ghana's goods import value of $12.43 billion is below the average of $92.01 billion. Ghana ranks 80th out of 171 countries in this aspect.

5. Imports of goods and services (BoP, current US$): Ghana's value of $24.55 billion is below the average of $120.32 billion. Ghana ranks 66th out of 170 countries in this regard.

6. Imports of goods, services, and primary income (BoP, current US$): Ghana's value of $28.68 billion is significantly below the average of $144.51 billion. Ghana ranks 69th out of 170 countries in this category.

Summary

Ghana's import values across different categories such as goods and services, as well as percentage of GDP, are consistently below global averages, positioning the country in the lower half of rankings among countries worldwide. These indicators suggest that Ghana may have a relatively smaller role in global trade and tourism expenditures compared to other nations, potentially impacting its economic growth and international influence.

Merchandise Imports

Analysis of Merchandise imports (current US$): With a value of 12,429,000,000, Ghana's merchandise imports are significantly below the average of 89,385,605,263.1579. This places Ghana at rank 85 out of 190 countries in the dataset.

Analysis of Merchandise imports by the reporting economy, residual (% of total merchandise imports): Ghana's value of 0.83% for this attribute is below the average of 2.51%. This places Ghana at rank 68 out of 180 countries included in the data.

Summary

Ghana's merchandise imports are notably lower than the global average at $12.43 billion, ranking the country 85th out of 190 nations. Additionally, Ghana's residual percentage for merchandise imports is below average at 0.83%, placing the country at the 68th position out of 180 countries. These statistics indicate that Ghana has a relatively smaller share in global trade compared to other nations, which could suggest limitations in its international trade capacity and potential challenges in diversifying its economy.

Service Imports

- Service imports in Ghana amount to $12,116,810,362.05, ranking 49th out of 171 countries. This is below the average service imports of $27,615,356,170.47.
- Communications, computer, etc. represent 78.25% of Ghana's service imports, which is significantly above the average of 44.40%. Ghana ranks 5th out of 169 countries for this attribute.
- Transport services account for 16.67% of Ghana's service imports, below the average of 32.90%. Ghana ranks 150th out of 169 countries in this category.
- Travel services make up only 0.87% of Ghana's service imports, well below the average of 14.14%. Ghana ranks 163rd out of 169 countries for this component.
- Insurance and financial services constitute 4.21% of Ghana's service imports, which is below the average of 8.53%. Ghana ranks 117th out of 169 countries in this aspect.

Summary

Ghana's service imports amount to $12.12 billion, ranking 49th globally. The country's heavy reliance on communications, computer, etc. services sets it apart, ranking 5th for this category but falls below average in transport, travel, insurance, and financial services. This analysis is crucial for understanding Ghana's economic structure, highlighting areas of strength and weakness in its service imports, which can inform policy decisions aimed at diversifying and optimizing the country's service trade.

Commercial Service Imports

1. Commercial service imports (current US$): Ghana's commercial service imports amount to $10,244,277,103.15, ranking 52nd out of 171 countries. This value is significantly below the average of $27,102,746,128.60 for all countries in the dataset.

2. Computer, communications and other services (% of commercial service imports): Ghana dedicates 74.27% of its commercial service imports to this category, which is notably higher than the average of 41.71%. Ghana ranks 8th out of 169 countries for this attribute.

3. Insurance and financial services (% of commercial service imports): Ghana allocates 4.98% of its commercial service imports to insurance and financial services, lower than the average of 8.85%. Ghana ranks 109th out of 169 countries for this metric.

4. Transport services (% of commercial service imports): With 19.72% of commercial service imports going towards transport services, Ghana falls below the average of 34.71%. In this category, Ghana ranks 132nd out of 169 countries.

5. Travel services (% of commercial service imports): Ghana spends 1.02% of its commercial service imports on travel services, which is substantially less than the average of 14.73%. Ghana's ranking for this attribute is 163rd out of 169 countries.

Summary

Ghana demonstrates a significant focus on computer, communications, and other services, as indicated by the high percentage of commercial service imports allocated to this category, ranking 8th globally. However, the country allocates a lower percentage to insurance and financial services and transport services, ranking 109th and 132nd respectively. The minimal allocation to travel services further emphasizes Ghana's priorities. These findings are crucial as they highlight Ghana's economic preferences and where it invests its resources, shedding light on key sectors that drive its economy and trade activities.

Infrastructure

Analysis of key transport statistics in Ghana:

Summary

In key transport statistics, Ghana lags behind global averages in various aspects. The country has significantly lower registered carrier departures and passenger numbers in air transport, as well as lower container port traffic compared to global averages. These indicators are crucial as they reflect Ghana's connectivity with the global economy, impacting trade, tourism, and overall economic growth.

Information Technology Infrastructure

For "Secure Internet servers," Ghana has 1,846 servers which is significantly below the average of 458,294. Ghana ranks 100 out of 193 countries in this attribute data.

Regarding "Secure Internet servers (per 1 million people)," Ghana has 57.36 servers per 1 million people, well below the average of 14,067. Ghana ranks 146 out of 193 countries for this statistic.

In terms of "Individuals using the Internet (% of population)," Ghana has 56.68% of its population using the internet, slightly below the average of 64.77%. Ghana ranks 119 out of 180 countries in this category.

For "Fixed broadband subscriptions," Ghana has 78,371 subscriptions, significantly lower than the average of 6,591,956. Ghana ranks 128 out of 185 countries included in the data for this attribute.

Lastly, in "Mobile cellular subscriptions," Ghana has 40,461,609 subscriptions, slightly below the average of 42,526,464. Ghana ranks 38 out of 193 countries for this statistic.

Summary

Ghana exhibits comparatively lower figures in key internet and technology-related indicators such as secure internet servers, internet usage percentage, and fixed broadband subscriptions, positioning it below global averages and rankings in these areas. However, the country performs relatively well in mobile cellular subscriptions. These statistics are crucial as they highlight Ghana's current standing in digital infrastructure and connectivity, indicating areas that may require further development to enhance technological advancement, economic growth, and global competitiveness.

Energy Consumption

Regarding Renewable energy consumption, Ghana's value of 40.25% is above the average of 32.18%. Ghana ranks 61st out of 191 countries in this attribute data.

When it comes to CO2 emissions, Ghana's value of 19401.16 kt is below the average of 171895.94 kt. Ghana holds the 85th rank out of 188 countries in this attribute data.

Summary

Ghana demonstrates a commendable performance in renewable energy consumption, exceeding the global average by 8.07% and securing the 61st position out of 191 countries. Conversely, in CO2 emissions, Ghana maintains a relatively lower level compared to the world average by 152494.78 kt and holds the 85th rank out of 188 countries. These statistics are crucial as they highlight Ghana's progress towards sustainable energy practices and environmental conservation, positioning the country favorably in the global arena for eco-friendly initiatives.

Government Balance Sheet

Net incurrence of liabilities, total (% of GDP): In Ghana, the net incurrence of liabilities as a percentage of GDP is 11.46, which is above the average of 7.43. This places Ghana at rank 18 out of 92 countries in the dataset.

Total reserves (% of total external debt): Ghana's total reserves as a percentage of total external debt is 19.40, below the average of 66.13. Ghana ranks 82 out of 102 countries in this metric.

Reserves and related items (BoP, current US$): Ghana has reserves and related items valued at -540,075,189.53 USD, significantly below the average of 1,924,407,186.58 USD. This places Ghana at rank 132 out of 171 countries.

Total reserves minus gold (current US$): Ghana's reserves minus gold amount to 7,352,692,438.71 USD, far below the average of 74,221,588,171.61 USD. Ghana ranks 77 out of 161 countries in this measure.

Total reserves (includes gold, current US$): Ghana's total reserves, including gold, stand at 7,884,091,538.71 USD, well below the average of 85,708,019,773.47 USD. Ghana is ranked 78 out of 161 countries in this category.

Total reserves in months of imports: Ghana's total reserves in months of imports is 3.30, lower than the average of 7.10 months. This places Ghana at rank 110 out of 151 countries in the dataset.

Summary

Ghana displays a mixed performance in key macroeconomic indicators. While the country ranks relatively low in metrics such as total reserves, reserves minus gold, and reserves in months of imports, it surpasses the average in net incurrence of liabilities. These indicators are crucial as they reflect Ghana's financial stability, its ability to cover external debts, and the adequacy of its foreign exchange reserves to meet obligations and stabilize its economy.

Government Revenue

Revenue, excluding grants (% of GDP): Ghana's value is 13.75% of GDP, below the average of 27.02%. It ranks 105 out of 122 countries.

Grants and other revenue (% of revenue): Ghana's value is 19.39% of revenue, below the average of 23.54%. It ranks 45 out of 108 countries.

Taxes on goods and services (% of revenue): Ghana's value is 32.27% of revenue, above the average of 31.82%. It ranks 63 out of 122 countries.

Taxes on international trade (% of revenue): Ghana's value is 10.00% of revenue, above the average of 6.24%. It ranks 21 out of 101 countries.

Other taxes (% of revenue): Ghana's value is -4.69% of revenue, below the average of 2.12%. It ranks 106 out of 106 countries.

Taxes on income, profits and capital gains (% of revenue): Ghana's value is 43.03% of revenue, above the average of 24.66%. It ranks 10 out of 119 countries.

Summary

Ghana's revenue, excluding grants, as a percentage of its GDP is below the global average, indicating potential challenges in generating internal income. However, the country performs relatively well in taxes on goods and services and international trade when compared to other nations. The high percentage of taxes on income, profits, and capital gains suggests a heavy reliance on individual and corporate earnings to fund the government, which can impact economic growth and investment sustainability in the long term.

Taxes

1. Tax revenue (% of GDP): Ghana's tax revenue stands at 11.34% of its GDP, below the average of 16.72%. With a rank of 98 out of 123 countries, there is room for improvement in tax collection efficiency.

2. Customs and other import duties (% of tax revenue): Ghana's ratio is 12.41%, higher than the average of 9.01%. Ranking 24 out of 99 countries, Ghana relies comparatively more on import duties for tax revenue.

3. Taxes on income, profits and capital gains (% of total taxes): Ghana's allocation towards these taxes is 53.39%, above the average of 38.40%. This places Ghana at the 18th position out of 120 countries, indicating a significant reliance on these forms of taxation.

4. Tariff rate, applied, weighted mean, all products (%): Ghana's tariff rate of 10.51% exceeds the average of 5.21%. With a rank of 22 out of 153 countries, Ghana maintains a moderately high tariff rate compared to the dataset.

Summary

Ghana's tax revenue as a percentage of GDP is below the global average, indicating the need to enhance tax collection efforts. The country's reliance on customs and import duties is higher than average, showcasing a significant dependency on these revenues. Moreover, Ghana's allocation towards taxes on income, profits, and capital gains exceeds the norm, underscoring a heavy emphasis on these forms of taxation. Additionally, Ghana's tariff rate is notably higher compared to the dataset, suggesting a relatively protectionist trade policy.

These findings are crucial as they highlight areas where Ghana can potentially improve its revenue generation methods. Enhancing tax efficiency, diversifying revenue sources, and possibly reassessing tariff rates could lead to a more balanced and sustainable fiscal framework for the country's economic development and stability.

Government Expenses

Expense (% of GDP): Ghana's expense as a percentage of GDP stands at 21.88%, which is below the average of 31.69%. This places Ghana at the rank of 88 out of 123 countries.

Compensation of employees (% of expense): Ghana allocates 32.96% of its expense to employee compensation, above the average of 24.70%. This places Ghana at the rank of 34 out of 123 countries.

Goods and services expense (% of expense): Ghana's expenditure on goods and services accounts for 8.66% of its total expense, below the average of 14.77%. Ghana ranks 83 out of 122 countries in this aspect.

Interest payments (% of expense): Ghana's interest payments represent 28.68% of its expense, significantly higher than the average of 6.85%. This places Ghana at the 3rd rank out of 121 countries.

Other expense (% of expense): Ghana's other expenses constitute 15.52% of its total expense, surpassing the average of 8.29%. Ghana ranks 19 out of 120 countries concerning this attribute.

Subsidies and other transfers (% of expense): Ghana's subsidies and transfers account for 14.18% of its expenses, well below the average of 43.29%. Ghana is ranked 114th out of 121 countries in this category.

Summary

Ghana's macroeconomic indicators reflect a prudent fiscal management strategy with expenses below the average GDP percentage and allocated mostly towards employee compensation and interest payments. However, the high percentage of expense going towards interest payments could indicate a heavy debt burden for the country. Additionally, the relatively low expenditure on subsidies and transfers compared to the average may impact social welfare programs and economic support initiatives in the country.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Inflation, consumer prices (annual %) 16/165
Broad money growth (annual %) 10/139
Communications, computer, etc. (% of service exports, BoP) 12/169
Computer, communications and other services (% of commercial service exports) 9/169
Communications, computer, etc. (% of service imports, BoP) 5/169
Computer, communications and other services (% of commercial service imports) 8/169
Taxes on income, profits and capital gains (% of revenue) 10/119
Interest payments (% of expense) 3/121

Ranks in Bottom Decile For:

Attribute Rank/Total
Military expenditure (% of GDP) 144/148
Armed forces personnel (% of total labor force) 158/164
General government final consumption expenditure (% of GDP) 150/158
Stocks traded, total value (% of GDP) 68/71
International tourism, receipts (% of total exports) 109/120
Travel services (% of service exports, BoP) 163/167
Travel services (% of commercial service exports) 165/167
Travel services (% of service imports, BoP) 163/169
Travel services (% of commercial service imports) 163/169
Other taxes (% of revenue) 106/106
Subsidies and other transfers (% of expense) 114/121