Ghana's economy has been strengthened by a quarter century of relatively sound management, a competitive business environment, and sustained reductions in poverty levels. In late 2010, Ghana was recategorized as a lower middle-income country. Ghana is well-endowed with natural resources and agriculture accounts for roughly one-quarter 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 2010,and is producing close to target levels. Additional oil projects are being developed and are expected to come on line in a few years. Estimated oil reserves have jumped to almost 700 million barrels and Ghana’s growing oil industry is expected to boost economic growth as the country faces the consequences of two years of loose fiscal policy, high budget and current account deficits, and a depreciating currency. President MAHAMA faces challenges in managing a population that is unhappy with living standards and that perceives they are not reaping the benefits of oil production because of political corruption.


$90.41 billion (2013 est.)
country comparison to the world: 78
$83.79 billion (2012 est.)
$77.64 billion (2011 est.)

GDP- Real Growth Rate

7.9% (2013 est.)
country comparison to the world: 13
7.9% (2012 est.)
15% (2011 est.)

GDP - Per Capita

$3,500 (2013 est.)
country comparison to the world: 173
$3,400 (2012 est.)
$3,200 (2011 est.)

GDP - Composition By Sector

agriculture: 21.5%
industry: 28.7%
services: 49.8% (2013 est.)

Population Below Poverty Line

28.5% (2007 est.)

Inflation Rate (Consumer Prices)

11% (2013 est.)
country comparison to the world: 211
9.2% (2012 est.)

Labor Force

12.07 million (2013 est.)
country comparison to the world: 44

Labor Force - By Occupation

agriculture: 56%
industry: 15%
services: 29% (2005 est.)

Unemployment Rate

11% (2000 est.)
country comparison to the world: 116


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

Industrial Production Growth

10.5% (2013 est.)
country comparison to the world: 13