Editing Economy of Ghana

{{Short description|none}}
{{Use dmy dates|date=July 2023}}

{{Infobox economy
| country = Ghana
| image_size = 310px
| image = A drone footage of Accra central, Ghana.jpg
| caption = Accra, the financial capital of Ghana
| currency = [[Ghana cedi|Cedi]] (GHS, GH₵)
| fixed exchange = 
| year = [[Calendar year]]
| organs = [[African Union|AU]], [[African Continental Free Trade Agreement|AfCFTA]], [[World Trade Organization|WTO]], [[Economic Community of West African States|ECOWAS]]
| group = {{plainlist|
* [[Developing country|Developing/Emerging]]<ref>{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economies |title=World Economic Outlook Database, April 2019 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=29 September 2019}}</ref>
* Lower-middle income economy<ref>{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Bank Country and Lending Groups |publisher=[[World Bank]] |website=datahelpdesk.worldbank.org |access-date=29 September 2019}}</ref>}}
| population = {{increase}} 33,346,450 (2023)<ref>{{cite web |url=https://countrymeters.info/en/Ghana |title=Ghana population (2023) live — Countrymeters }}</ref>
| gdp = {{plainlist|
* {{Increase}} $75.768 billion (nominal, 2025 est.)<ref name="IMFWEOORG">{{cite web |url=https://www.imf.org/external/datamapper/profile/GHA | title=Report for Selected Countries and Subjects }}</ref>
* {{increase}} $285.960 billion ([[Purchasing power parity|PPP]], 2025 est.)<ref name="2023/04">{{cite web |title=International Monetary Fund, April 2025 |url=https://www.imf.org/en/Publications/WEO/weo-database/2023/April/weo-report?a=1&c=001,998,&s=NGDPD,PPPGDP,PPPPC,PPPSH,&sy=2020&ey=2028&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1}}</ref>}}
| gdp rank = {{plainlist|
* [[List of countries by GDP (nominal)|90th (nominal, 2023)]]
* [[List of countries by GDP (PPP)|68th (PPP, 2023)]]}}
| growth = {{plainlist|
* 1.62%&nbsp;(2023)  <ref name="statista_447479">{{cite web |url=https://www.statista.com/statistics/447479/gross-domestic-product-gdp-growth-rate-in-ghana/ |title=Ghana - gross domestic product (GDP) growth rate |website=statista.com |access-date=7 June 2023}}</ref>
* 2.94%&nbsp;(2024f) <ref name="statista_447479"/>
* 4.85%&nbsp;(2025f) <ref name="statista_447479"/>}}
| per capita = {{plainlist|
* {{increase}} $2,190 (nominal, 2025 est.)<ref name="IMFWEOGH">{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2019/02/weodata/weorept.aspx?pr.x=48&pr.y=13&sy=2017&ey=2021&scsm=1&ssd=1&sort=country&ds=.&br=1&c=652&s=NGDPD%2CPPPGDP%2CNGDPDPC%2CPPPPC%2CPCPIPCH&grp=0&a= |title=World Economic Outlook Database, October 2019 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=19 January 2020}}</ref>
*{{increase}} $8,260 (PPP, 2025 est.)<ref name="IMFWEOGH" />}}
| per capita rank = {{plainlist|
* [[List of countries by GDP (nominal) per capita|163rd (nominal, 2021)]]
* [[List of countries by GDP (PPP) per capita|165th (PPP, 2021)]]}}
| sectors = {{plainlist|
* [[Primary sector of the economy|agriculture]]: 18.3%
* [[Secondary sector of the economy|industry]]: 24.%
* [[Tertiary sector of the economy|services]]: 57.2%
* (2017 est.)<ref name="CIAWFGH">{{cite web |url=https://www.cia.gov/the-world-factbook/countries/ghana/ |title=The World Factbook |publisher=[[Central Intelligence Agency]] |website=CIA.gov |access-date=2 February 2019}}</ref>}}
| components = 
| inflation = {{decrease}}41.2% (2023 est.)<ref>{{cite web |url=https://take-profit.org/en/statistics/inflation-rate/ghana/}}</ref>
| poverty = {{plainlist|
* 23.4% in [[poverty]] (2016)<ref>{{cite web |title=Poverty headcount ratio at national poverty lines (% of population) – Ghana |url=https://data.worldbank.org/indicator/SI.POV.NAHC?locations=GH&name_desc=false |website=data.worldbank.org |publisher=World Bank |access-date=19 January 2020}}</ref>
* 30.5% on less than $3.20/day (2016)<ref>{{cite web |url=https://data.worldbank.org/indicator/SI.POV.LMIC?locations=GH |title=Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population) – Ghana |publisher=[[World Bank]] |website=data.worldbank.org |access-date=24 November 2019}}</ref>}}
| gini = 43.5 {{color|darkorange|medium}} (2016)<ref>{{cite web |url=https://data.worldbank.org/indicator/SI.POV.GINI?locations=GH |title=GINI index (World Bank estimate) |publisher=[[World Bank]] |website=data.worldbank.org |access-date=13 April 2019}}</ref>
| hdi = {{plainlist|
* {{increase}} 0.632 {{color|darkblue|medium}} (2021-2022)<ref>{{cite web |url=http://hdr.undp.org/system/files/documents/global-report-document/hdr2021-22pdf_1.pdf}}</ref> ([[List of countries by Human Development Index|133rd]])
* 0.458 {{color|lightblue|low}} [[List of countries by inequality-adjusted HDI|IHDI]] (2022)<ref>{{cite web |url=http://hdr.undp.org/inequality-adjusted-human-development-index#/indicies/IHDI |title=Inequality-adjusted Human Development Index (IHDI) |website=hdr.undp.org |access-date=7 June 2023}}</ref>}}
| labor force = {{plainlist|
* {{increase}} 14,140,200 (2021)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=GH/ | title=World Bank Open Data }}</ref>
*69% employment rate (2021)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.TLF.CACT.ZS?locations=GH/ | title=World Bank Open Data }}</ref>}}
| labor occupations = {{plainlist|
* [[Primary sector of the economy|agriculture]]: 44.7%
* [[Secondary sector of the economy|industry]]: 14.4%
* [[Tertiary sector of the economy|services]]: 40.9%
* (2013 est.)<ref name="CIAWFGH" />}}
| unemployment = {{plainlist|
* 3.92% (2021)<ref>{{cite web |url=https://www.statista.com/statistics/808481/unemployment-rate-in-ghana/ |title=Ghana - unemployment rate 1999-2022 }}</ref>
* 3.87% (2022)<ref>{{cite web |url=https://www.statista.com/statistics/808481/unemployment-rate-in-ghana/t |title=Ghana - unemployment rate 1999-2022 }}</ref>
}}
| edbr = {{decrease}} [[Ease of doing business index#Ranking|118th (medium, 2020)]]<ref name="Ease of doing business index">{{cite web |url=http://www.doingbusiness.org/data/exploreeconomies/ghana |title=Ease of Doing Business in Ghana |publisher=Doingbusiness.org |access-date=25 January 2017}}</ref>
| industries = mining, lumbering, light manufacturing, aluminum smelting, food processing, cement, small commercial ship building, petroleum
| exports = {{increase}} $14.1 billion (2021 est.)<ref>{{cite web |url=https://oec.world/en/profile/country/gha/ |title=Ghana (GHA) Exports, Imports, and Trade Partners }}</ref>
| export-goods = {{plainlist| 
fuels including oil, gems, precious metals, cocoa, fruits, nuts, ores, slag, ash, animal/vegetable fats, oils, waxes, wood, rubber, rubber articles, meat/seafood preparations aluminum}}
| export-partners = {{plainlist|
* {{flag|China}} 16.7%
* {{flag|Switzerland}} 14.7%
* {{flag|India}} 14.2%
* {{flag|South Africa}} 11.8%
* {{flag|Netherlands}} 5.8%
* {{flag|United Arab Emirates}} 5.4%
* {{flag|United States of America}} 4.2%
* {{flag|United Kingdom}} 2.5%
* {{flag|France}} 2.2%
*{{flag|Italy}} 1.84%
*{{flag|Japan}} 1.81%.
*{{flag|Burkina Faso}} 1.7%
*(2020)<ref>{{cite web |url=https://www.worldstopexports.com/ghanas-top-10-exports/ |title=Ghana's Top Exports 2022 }}</ref>}}
| imports = {{increase}} $11.07 billion (December 2022 est.)<ref>{{cite web |url=https://www.bog.gov.gh/economic-data/merchandise-trade-flows/ |title=Merchandise Trade Flows – Bank of Ghana }}</ref>
| import-goods = refined petroleum, cars, rice, delivery trucks, coated-flat rolled iron, other foodstuffs
| import-partners = {{plainlist|
* {{flag|China}} 42%
* {{flag|United States}} 5%
* {{flag|Netherlands}} 5%
* {{flag|India}} 5%
* {{flag|United Arab Emirates}} 3%
* (2020)<ref name="CIAWFGH" />}}
| FDI = {{plainlist|
* {{increase}} $19.85 billion (31 December 2013 est.)<ref name="CIAWFGH" />
* {{increase}} Abroad: $16.62 billion (31 December 2013 est.)<ref name="CIAWFGH" />}}
| current account = {{increase}} $318.2billion (2022 est.)<ref name="CEICDATA" />
| gross external debt = {{increaseNegative}} $22.14 billion (31 December 2017 est.)<ref name="CIAWFGH" />
| debt = 
| revenue = 9.544 billion (2017 est.)<ref name="CIAWFGH" />
| expenses = 24.5% of GDP (2023 est.)<ref>{{cite web |url=https://www.statista.com/statistics/447498/ratio-of-government-expenditure-to-gross-domestic-product-gdp-in-ghana/ |title=Ghana - ratio of government expenditure to gross domestic product (GDP) 2028 }}</ref>
| balance = 2.0% (of GDP) (2022 est.)}<ref name="CEICDATA">{{cite web|url=https://www.ceicdata.com/en/indicator/ghana/current-account-balance--of-nominal-gdp |title=Ghana Current Account Balance: % of GDP |website=ceicdata.com |access-date=7 June 2023}}</ref>
| reserves = {{increase}} $5.216 billion ( April 2023 est.)
| spelling = UK
| cianame = ghana
| credit = {{plainlist|
* [[Standard & Poor's]]:<ref>{{cite web|title= Sovereigns rating list|publisher=Standard & Poor's|url=https://www.spglobal.com/ratings/en/research/articles/200318-covid-19-coronavirus-related-public-rating-actions-on-non-financial-corporations-to-date-11393186}}</ref>
* B− (Foreign)
* [[Fitch Ratings|Fitch]] :<ref>{{cite web|url=https://www.fitchratings.com/research/sovereigns/fitch-downgrades-ghana-ltfc-idr-to-c-21-12-2022}}</ref>
* C
* Outlook: No outlook at level}}
*[[Moody's]] :<ref>{{cite web|url=https://www.https/|title=Welcome to the US Petabox|access-date=7 June 2023|archive-date=19 August 2013|archive-url=https://web.archive.org/web/20130819141428/https://www.https/|url-status=dead}}</ref>
* B3 (stable)
}}
The '''economy of Ghana''' has a diverse and rich resource base, including the [[manufacturing]] and [[export]] of digital technology goods, automotive and ship construction and export, and the export of resources such as hydrocarbons and [[industrial mineral]]s. Record high Gold price 2023 earned Ghana 15.6 billion $ of exports.

The [[Ghana|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 chairs, plastic bags, razors, and pens).<ref>{{Cite news |url=http://www.cnn.com/2009/WORLD/africa/07/10/ghana.obama/index.html|publisher=CNN|title=Obama's Ghana trip sends message across Africa|date=10 July 2009}}</ref> 53.6% of Ghana's workforce were employed in agriculture in 2013.<ref name="Food and Agriculture Policy Decision Analysis: Food and Agricultural Organisation of the United Nations">{{cite web|author=((Food and Agriculture Policy Decision Analysis (FAPDA)))|title=Country Fact sheet on food and agriculture policy trends|url=http://www.fao.org/3/a-i4490e.pdf |archive-url=https://web.archive.org/web/20160327173959/http://www.fao.org/3/a-i4490e.pdf |archive-date=27 March 2016 |url-status=live|website=Food and Agricultural Organisation of the United Nations|publisher=FAO|access-date=13 May 2016}}</ref><ref name="cs">Clark, Nancy L. "Agriculture" (and subchapters). ''[http://lcweb2.loc.gov/frd/cs/ghtoc.html A Country Study: Ghana]'' (La Verle Berry, editor). [[Library of Congress]] [[Federal Research Division]] (November 1994). ''This article incorporates text from this source, which is in the [[public domain]].[http://lcweb2.loc.gov/frd/cs/about.html]''</ref>{{Outdated statistic}}

Ghana embarked on a currency [[re-denomination]] exercise from the [[Cedi]] (₵) to the new currency, Ghana Cedi (GH₵) in July 2007. The transfer rate is 1 Ghana Cedi for every 10,000 Cedis. 

Ghana became the largest gold-producing country in Africa after overtaking [[South Africa]] in 2019.<ref>{{Cite web|title=Top 10 Gold Producing Countries|url=https://www.usfunds.com/investor-library/frank-talk-a-ceo-blog-by-frank-holmes/top-10-gold-producing-countries/#.YFCDlrT0m3I|access-date=16 March 2021|language=en-GB|archive-date=6 March 2021|archive-url=https://web.archive.org/web/20210306053126/https://www.usfunds.com/investor-library/frank-talk-a-ceo-blog-by-frank-holmes/top-10-gold-producing-countries/#.YFCDlrT0m3I|url-status=dead}}</ref> The country is also the second-largest cocoa producer (after [[Ivory Coast]]).<ref>{{Cite web|title=Cocoa in Ivory Coast and Ghana 2017 – African Business|date=22 October 2017 |url=https://www.africanbusinessexchange.com/cocoa-in-ivory-coast-and-ghana-2017/|access-date=12 August 2020|language=en-GB}}</ref> Ghana is rich in [[diamond]]s, [[manganese| manganese or manganese ore]], [[bauxite]], and [[oil]]. Most of its debt was cancelled in 2005, but government spending was later allowed to balloon. Coupled with a plunge in oil prices, this led to an economic crisis that forced the government to negotiate a $920 million extended credit facility from the [[International Monetary Fund]] (IMF) in April 2015.<ref>{{cite web|last1=The Heritage Foundation|title=Ghana's Economy|url=http://www.heritage.org/index/country/ghana|archive-url=https://web.archive.org/web/20090115142611/http://www.heritage.org/index/country/Ghana|url-status=unfit|archive-date=15 January 2009|website=Heritage|access-date=17 May 2016}}</ref> Bloomberg rated Ghana currency Cedi as the strongest performing currency in the World April 2025 against the Dollar reducing its debt burden.

== Taxation ==
[[Value-added tax]] is a [[consumption tax]] administered in Ghana. The tax regime that started in 1998 had a single rate but since September 2007 entered into a multiple rate regime. In 1998, the rate of tax was 10% and amended in 2000 to 12.5%. The top income tax and corporate tax rates are 25%. Other taxes included with value-added tax (VAT), are the national health insurance levy, and a [[capital gains tax]]. The overall tax burden was 12.1% of Ghana's total domestic income in 2013. Ghana's national budget was the equivalent of 39.8% of GDP in 2013.<ref name="heritage" /> Ghana is implementing the rent tax in 2021.

== Manufacturing ==
{{Main|Manufacturing in Ghana|List of companies of Ghana|l2 = Companies of Ghana}}

Ghana's industrial base is relatively advanced. [[Import substitution industrialization|Import-substitution industries]] include [[electronics]] manufacturing. [[Rlg Communications]] is the first indigenous [[Africa]]n company to assemble [[laptops]], [[desktop computer|desktops]], and [[Mobile phone|mobile]] [[Telephone|phones]], and is [[West Africa]]'s biggest [[information and communications technology]] (ICT) and [[mobile phone]] manufacturing company.<ref>{{cite news |title=Rlg wants to create a million jobs |url=http://standard.gm/site/news/3430-Rlg-wants-create-million-jobs---Papa-Njie.html |publisher=standard.gm |date=22 April 2014 |access-date=10 July 2014 |archive-url=https://web.archive.org/web/20150429024233/http://standard.gm/site/news/3430-Rlg-wants-create-million-jobs---Papa-Njie.html |archive-date=29 April 2015 |url-status=dead}}</ref>

[[Ghana]] began its automotive industry with the construction of a [[prototype]] robust [[sport utility vehicle|SUV]], named the [[Suame Magazine, Kumasi#SMATI Turtle 1|SMATI Turtle 1]], intended for use in the rough African [[terrain]]. It was designed and manufactured by the [[Suame Magazine, Kumasi|Artisans of Suame Magazine]] Industrial Development Organization. [[Urban car|Urban]] [[electric car]]s have been manufactured in Ghana since 2014.<ref>{{cite news |title=Ghana's model vehicle unveiled by Suame Magazine artisans |author=Kofi Adu Domfeh |url=http://www.modernghana.com/news/458333/1/ghanas-model-vehicle-unveiled-by-suame-magazine-ar.html |publisher=Modernghana.com |date=13 April 2013 |access-date=25 September 2013}}</ref><ref>{{cite news |title=Ghana's model car attracts Dutch government support |url=http://business.myjoyonline.com/pages/news/201307/109474.php |publisher=Myjoyonline.gh |date=15 July 2013 |access-date=25 September 2013 |url-status=dead |archive-url=https://web.archive.org/web/20130923084526/http://business.myjoyonline.com/pages/news/201307/109474.php |archive-date=23 September 2013}}</ref>

As of 2012 there were four major companies in the textiles sector: [[Akosombo Textile Limited|Akosombo Textiles Limited]], Tex Style Ghana Limited, [[Printex]] Ghana, and Ghana Textile Manufacturing Company.<ref>{{cite web|last=Daily Graphic Newspaper|title=What Will Save Ghana's Textile Industry?|url=http://www.ghana.gov.gh/index.php/news/features/12582-what-will-save-ghanas-textile-industry|publisher=Government of Ghana|access-date=10 July 2014|archive-date=3 March 2016|archive-url=https://web.archive.org/web/20160303235026/http://www.ghana.gov.gh/index.php/news/features/12582-what-will-save-ghanas-textile-industry|url-status=dead}}</ref>

[[Ghana National Petroleum Corporation]] and [[Ghana Oil Company]] deal with crude oil and gas exploration, exploitation, and refining.<ref>{{cite web |title=Ghana National Petroleum Corporation |url=http://ghanaoilwatch.org/images/Articles/oil_and_gas_companies_registered_in_ghana.pdf |publisher=ghanaoilwatch.org |access-date=10 July 2014 |archive-url=https://web.archive.org/web/20140713001058/http://ghanaoilwatch.org/images/Articles/oil_and_gas_companies_registered_in_ghana.pdf |archive-date=13 July 2014 |url-status=dead}}</ref>

== Telecommunications ==
{{Main|Telecommunications in Ghana}}
At the end of January 2022, total number of voice subscription in Ghana stood at 41,380,751.This represents a percentage increase of 1.28% over December 2019 figures of 40,857,007. The total penetration rate stands at 136.79%.

Competition among mobile-phone companies in Ghana is an important part of the telecommunications industry growth, Current market leader MTN with voice subscription of 23,150,485 representing 55.95% of the market is followed by Vodafone with voice subscription of 9,075,795 representing 21.93% market share, AirtelTigo voice subscription stands at 8,428,322 representing 20.69%, Glo's current voice subscription stands at 726,149 which represent a market share of 1.75%.<ref>{{Cite web|url=https://www.nca.org.gh/industry-data-2/market-share-statistics-2/telecom-voice/|title=Telecom Voice Subscription » National Communications Authority|website=nca.org.gh|access-date=1 March 2020|archive-date=26 October 2020|archive-url=https://web.archive.org/web/20201026220923/https://www.nca.org.gh/industry-data-2/market-share-statistics-2/telecom-voice/|url-status=dead}}</ref><ref>{{Cite web|url=https://www.ghanaweb.com/GhanaHomePage/business/Mobile-voice-subscription-hits-41-3-million-NCA-877081|title=Mobile voice subscription hits 41.3 million – NCA|website=ghanaweb.com|date=25 February 2020 |language=en|access-date=1 March 2020}}</ref><ref>{{Cite web|url=https://www.classfmonline.com/business/Mobile-voice-subscription-hits-41-3m-11148|title=Mobile voice subscription hits 41.3m|website=classfmonline.com|date=25 February 2020 |language=en|access-date=1 March 2020}}</ref>

The mass media of [[Ghana]] is among the most liberal in Africa, with [[Ghana]] ranking as the third-freest in Africa and 30th-most free in the world on the [[Press Freedom Index|worldwide press freedom index]]. Chapter 12 of the [[Constitution of Ghana]] guarantees freedom of the Ghanaian [[News media|press]] and the independence of the mass media, and Chapter 2 prohibits censorship.<ref name="Ghana culture and media" /> Ghanaian [[Freedom of the press|press freedom]] was restored in 1992.<ref name="Ghana culture and media">[http://country-facts.com/es/country/africa/55-ghana/269-ghana-culture-and-media.html Ghana culture and media] {{webarchive|url=https://archive.today/20130408012707/http://country-facts.com/es/country/africa/55-ghana/269-ghana-culture-and-media.html |date=8 April 2013}} "Country Facts". Accessed 6 February 2013.</ref>

[[Ghana]] was one of the first countries in Africa to achieve the connection to the [[World Wide Web]].<ref name="stats">[http://www.internetworldstats.com/af/gh.htm Ghana: Internet Usage and Telecommunications Report] {{Webarchive|url=https://web.archive.org/web/20201024065305/https://www.internetworldstats.com/af/gh.htm |date=24 October 2020 }}. ''Internet World Stats''. Accessdate 24 April 2013.</ref> In 2010, there were 165 licensed internet service providers in Ghana and they were running 29 of the [[Optical fiber|fiber optic]], and authorized networks [[VSAT]] operators were 176, of which 57 functioned, and 99 internet operators were authorized to the public, and [[private data]] and [[packet-switched network]] operators were 25.<ref name="proexca">Atteneri Nabila Benítez Trujillo. [http://www.proexca.es/Estudios_de_Mercado/Ghana/Informe_Telecomunicaciones_en_Ghana.pdf ''Information of Telecommunications in Ghana''] {{webarchive|url=https://web.archive.org/web/20120703055019/http://www.proexca.es///Estudios_de_Mercado/Ghana/Informe_Telecomunicaciones_en_Ghana.pdf |archive-url=https://web.archive.org/web/20110626225440/http://www.proexca.es/Estudios_de_Mercado/Ghana/Informe_Telecomunicaciones_en_Ghana.pdf |archive-date=26 June 2011 |url-status=live |date=3 July 2012}} (in Spanish). Proexca, 2010. Accessdate 24 April 2013.</ref>

== Data ==
[[File:GDP per capita development development of Ghana.svg|thumb|Change in per capita GDP of Ghana, 1870–2018. Figures are inflation-adjusted to 2011 International dollars]]
[[File:Poverty in Ghana.jpg|thumb|Share of population in extreme poverty over time, 1981 to 2019]]

The following table shows the main economic indicators in 1980–2023. Inflation below 5% is in green.<ref>{{Cite web |title=Report for Selected Countries and Subjects |url=https://www.imf.org/en/Publications/WEO/weo-database/2023/October/weo-report |access-date=2024-02-26 |website=IMF |language=en}}</ref>

{| class="wikitable" style="text-align:center;"
!Year
!GDP<br /><small>(in billion US$ PPP)</small>
!GDP per capita<br /><small >(in US$ PPP)</small>
!GDP<br /><small>(in billion US$ nominal)</small>
!GDP growth<br /><small>(real)</small>
!Inflation rate<br /><small>(in percent)</small>
!Government debt<br /><small>(in % of GDP)</small>
|-
|1980
|12.8
|1,202
|37.4
|{{increase}}0.4%
|{{increaseNegative}}50.0%
|n/a
|-
|1981
|{{increase}}13.5
|{{increase}}1,236
|{{increase}}60.7
|{{decrease}}−3.5%
|{{increaseNegative}}116.5%
|n/a
|-
|1982
|{{decrease}}13.2
|{{decrease}}1,175
|{{increase}}70.4
|{{decrease}}−6.9%
|{{increaseNegative}}22.5%
|n/a
|-
|1983
|{{decrease}}12.8
|{{decrease}}1,118
|{{decrease}}47.3
|{{decrease}}−4.8%
|{{increaseNegative}}122.2%
|n/a
|-
|1984
|{{increase}}14.6
|{{increase}}1,185
|{{decrease}}17.1
|{{increase}}9.0%
|{{increaseNegative}}40.0%
|n/a
|-
|1985
|{{increase}}16.0
|{{increase}}1,272
|{{decrease}}15.3
|{{increase}}5.1%
|{{increaseNegative}}10.3%
|n/a
|-
|1986
|{{increase}}17.3
|{{increase}}1,347
|{{decrease}}14.1
|{{increase}}5.2%
|{{increaseNegative}}24.5%
|n/a
|-
|1987
|{{increase}}18.9
|{{increase}}1,439
|{{decrease}}11.8
|{{increase}}4.8%
|{{increaseNegative}}39.8%
|n/a
|-
|1988
|{{increase}}20.9
|{{increase}}1,550
|{{increase}}12.5
|{{increase}}5.6%
|{{increaseNegative}}31.4%
|n/a
|-
|1989
|{{increase}}22.7
|{{increase}}1,646
|{{increase}}12.7
|{{increase}}5.1%
|{{increaseNegative}}25.2%
|n/a
|-
|1990
|{{increase}}24.4
|{{increase}}1,728
|{{increase}}14.7
|{{increase}}3.3%
|{{increaseNegative}}37.2%
|19.2%
|-
|1991
|{{increase}}26.4
|{{increase}}1,828
|{{increase}}16.5
|{{increase}}5.3%
|{{increaseNegative}}18.1%
|{{decreasePositive}}18.7%
|-
|1992
|{{increase}}28.2
|{{increase}}1,907
|{{decrease}}16.3
|{{increase}}3.9%
|{{increaseNegative}}10.0%
|{{increaseNegative}}23.1%
|-
|1993
|{{increase}}30.3
|{{increase}}1,997
|{{decrease}}13.3
|{{increase}}3.7%
|{{increaseNegative}}24.9%
|{{increaseNegative}}37.2%
|-
|1994
|{{increase}}32.0
|{{increase}}2,061
|{{decrease}}12.3
|{{increase}}3.6%
|{{increaseNegative}}24.9%
|{{increaseNegative}}55.2%
|-
|1995
|{{increase}}34.0
|{{increase}}2,140
|{{increase}}14.6
|{{increase}}4.2%
|{{increaseNegative}}59.3%
|{{decreasePositive}}51.0%
|-
|1996
|{{increase}}36.3
|{{increase}}2,228
|{{increase}}15.5
|{{increase}}4.6%
|{{increaseNegative}}44.5%
|{{decreasePositive}}46.0%
|-
|1997
|{{increase}}39.0
|{{increase}}2,339
|{{increase}}15.8
|{{increase}}5.8%
|{{increaseNegative}}24.8%
|{{increaseNegative}}48.7%
|-
|1998
|{{increase}}41.5
|{{increase}}2,424
|{{increase}}17.2
|{{increase}}5.0%
|{{increaseNegative}}19.2%
|{{decreasePositive}}40.6%
|-
|1999
|{{increase}}44.0
|{{increase}}2,506
|{{increase}}17.8
|{{increase}}4.5%
|{{increaseNegative}}12.5%
|{{increaseNegative}}55.7%
|-
|2000
|{{increase}}46.6
|{{decrease}}2,464
|{{decrease}}11.5
|{{increase}}3.6%
|{{increaseNegative}}25.1%
|{{increaseNegative}}80.2%
|-
|2001
|{{increase}}49.5
|{{increase}}2,550
|{{increase}}12.2
|{{increase}}3.8%
|{{increaseNegative}}32.9%
|{{decreasePositive}}61.9%
|-
|2002
|{{increase}}52.6
|{{increase}}2,644
|{{increase}}14.2
|{{increase}}4.6%
|{{increaseNegative}}14.8%
|{{decreasePositive}}58.0%
|-
|2003
|{{increase}}56.3
|{{increase}}2,766
|{{increase}}17.5
|{{increase}}5.1%
|{{increaseNegative}}26.6%
|{{decreasePositive}}52.8%
|-
|2004
|{{increase}}61.0
|{{increase}}2,923
|{{increase}}20.3
|{{increase}}5.4%
|{{increaseNegative}}12.7%
|{{decreasePositive}}41.1%
|-
|2005
|{{increase}}66.8
|{{increase}}3,126
|{{increase}}24.6
|{{increase}}6.2%
|{{increaseNegative}}15.1%
|{{decreasePositive}}34.0%
|-
|2006
|{{increase}}72.9
|{{increase}}3,331
|{{increase}}28.9
|{{increase}}5.8%
|{{increaseNegative}}11.7%
|{{decreasePositive}}18.5%
|-
|2007
|{{increase}}77.9
|{{increase}}3,480
|{{increase}}34.0
|{{increase}}4.1%
|{{increaseNegative}}10.7%
|{{increaseNegative}}22.5%
|-
|2008
|{{increase}}86.5
|{{increase}}3,779
|{{increase}}38.7
|{{increase}}9.2%
|{{increaseNegative}}16.5%
|{{increaseNegative}}24.6%
|-
|2009
|{{increase}}92.0
|{{increase}}3,931
|{{increase}}34.6
|{{increase}}4.8%
|{{increaseNegative}}13.1%
|{{increaseNegative}}26.9%
|-
|2010
|{{increase}}100.4
|{{increase}}4,071
|{{increase}}43.3
|{{increase}}7.9%
|{{increaseNegative}}6.7%
|{{increaseNegative}}34.5%
|-
|2011
|{{increase}}116.8
|{{increase}}4,623
|{{increase}}53.8
|{{increase}}14.0%
|{{increaseNegative}}7.7%
|{{decreasePositive}}31.3%
|-
|2012
|{{increase}}133.3
|{{increase}}5,152
|{{increase}}56.9
|{{increase}}9.3%
|{{increaseNegative}}7.1%
|{{increaseNegative}}35.4%
|-
|2013
|{{increase}}140.9
|{{increase}}5,321
|{{increase}}63.7
|{{increase}}7.3%
|{{increaseNegative}}11.7%
|{{increaseNegative}}42.9%
|-
|2014
|{{increase}}151.6
|{{increase}}5,595
|{{decrease}}54.3
|{{increase}}2.9%
|{{increaseNegative}}15.5%
|{{increaseNegative}}50.1%
|-
|2015
|{{decrease}}145.0
|{{decrease}}5,233
|{{decrease}}49.4
|{{increase}}2.1%
|{{increaseNegative}}17.2%
|{{increaseNegative}}53.9%
|-
|2016
|{{decrease}}142.3
|{{decrease}}5,021
|{{increase}}56.1
|{{increase}}3.4%
|{{increaseNegative}}17.5%
|{{increaseNegative}}55.9%
|-
|2017
|{{increase}}149.0
|{{increase}}5,148
|{{increase}}60.4
|{{increase}}8.1%
|{{increaseNegative}}12.4%
|{{increaseNegative}}57.0%
|-
|2018
|{{increase}}162.0
|{{increase}}5,482
|{{increase}}67.3
|{{increase}}6.2%
|{{increaseNegative}}9.3%
|{{increaseNegative}}62.0%
|-
|2019
|{{increase}}175.7
|{{increase}}5,823
|{{increase}}68.4
|{{increase}}6.5%
|{{increaseNegative}}7.1%
|{{decreasePositive}}58.3%
|-
|2020
|{{increase}}178.9
|{{decrease}}5,812
|{{increase}}70.0
|{{increase}}0.5%
|{{increaseNegative}}9.9%
|{{increaseNegative}}72.3%
|-
|2021
|{{increase}}196.4
|{{increase}}6,256
|{{increase}}79.6
|{{increase}}5.1%
|{{increaseNegative}}10.0%
|{{increaseNegative}}79.1%
|-
|2022
|{{increase}}216.6
|{{increase}}6,752
|{{decrease}}72.1
|{{increase}}3.1%
|{{increaseNegative}}31.9%
|{{increaseNegative}}92.4%
|-
|2023
|{{increase}}227.2
|{{increase}}6,905
|{{increase}}76.6
|{{increase}}1.2%
|{{increaseNegative}}42.2%
|{{decreasePositive}}84.9%
|}

== Imports and exports ==
Ghana's top export products in 2016 were crude petroleum ($2.66B), [[gold]] ($2.39B), cocoa beans ($2.27B), cocoa paste ($382M) and cocoa butter ($252M). Ghana's top export destinations in 2016 were [[Switzerland]] ($1.73B), [[China]] ($1.06B), [[France]] ($939M), [[India]] ($789M) and the [[Netherlands]] ($778M).<ref name="Ghana Imports and Exports: OEC">{{cite web|last1=OEC|title=Ghana Imports and Exports|url=http://atlas.media.mit.edu/en/profile/country/gha/|website=Atlas Media|access-date=13 May 2016}}</ref>

Ghana's top import categories in 2016 were refined petroleum ($2.18B), crude petroleum ($546M), gold ($428M), rice ($328M) and packaged medicaments ($297M).  The nations with the highest value of imports to Ghana in 2016 were China ($4.1B), the Netherlands ($1.58B), the [[United States]] ($1.1B), Nigeria ($920M) and India ($668M).<ref name="Ghana Imports and Exports: OEC" />

===Trade statistics===
{| class="wikitable"
!Year
!Goods exports<br /><small>(million US$)</small><ref>{{Cite web |title=Goods exports (BoP, current US$) - Ghana |url=https://data.worldbank.org/indicator/BX.GSR.MRCH.CD?end=2023&locations=GH&most_recent_value_desc=true&start=1977 |access-date=2025-01-25 |website=World Bank Open Data}}</ref>
!Goods imports<br /><small>(in</small> <small>million US$)</small><ref>{{Cite web |title=Goods imports (BoP, current US$) - Ghana |url=https://data.worldbank.org/indicator/BM.GSR.MRCH.CD?end=2023&locations=GH&most_recent_value_desc=true&start=1975 |access-date=2025-01-25 |website=World Bank Open Data}}</ref>
!Net trade<br /><small>(in</small> <small>million US$)</small><ref>{{Cite web |title=Net trade in goods (BoP, current US$) - Ghana |url=https://data.worldbank.org/indicator/BN.GSR.MRCH.CD?end=2023&locations=GH&most_recent_value_desc=true&start=1975 |access-date=2025-01-25 |website=World Bank Open Data}}</ref>
|-
|2023
|{{Increase}}$16,703
|{{Increase}}$14,009
|{{Increase}}$2,694
|-
|2020
|{{Increase}}$14,472
|{{Decrease}}$12,429
|{{Increase}}$2,043
|-
|2015
|{{Increase}}$10,321
|{{Increase}}$13,465
|{{Decrease}}−$3,144
|-
|2010
|{{Increase}}$7,960
|{{Increase}}$10,922
|{{Decrease}}−$2,962
|-
|2005
|{{Increase}}$2,802
|{{Increase}}$5,347
|{{Decrease}}−$2,545
|-
|2000
|{{Increase}}$1,936
|{{Increase}}$2,767
|{{Decrease}}−$830
|-
|1990
|{{Decrease}}$897
|{{Increase}}$1,205
|{{Decrease}}−$308
|-
|1980
|$1,104
|$908
|{{Increase}}$195
|}

== Private banking ==
{{See also|List of banks in Ghana|l1=Banks in Ghana}}
The [[financial service]]s in Ghana have seen a lot of reforms in the past years. The Banking (Amendment) Act 2007 included the awarding of a general banking license to qualified banks, which allows only indigenous Ghana [[offshore bank]]s to operate in Ghana. Indigenous Ghana private bank [[Capital Bank (Ghana)|Capital Bank]] was the first to be awarded the general banking license in Ghana as well as indigenous Ghana private banks [[UniBank]], [[National Investment Bank]] and [[Prudential Bank Limited]]. It has therefore become possible for Ghanaian [[Non-resident alien|non-resident]] individuals or residents and foreign companies or indigenous Ghana companies to open indigenous Ghana offshore bank accounts in Ghana.<ref name="heritage">{{cite web|work=heritage.org|url =http://www.heritage.org/index/country/ghana|archive-url =https://web.archive.org/web/20090115142611/http://www.heritage.org/index/country/Ghana|url-status =unfit|archive-date =15 January 2009|title =Ghana Economy |access-date = 20 April 2013}}</ref> Indigenous Ghana [[Retail banking|retail]] and [[Savings bank|savings]] banks include [[Agricultural Development Bank of Ghana]], [[CAL Bank]], [[GCB Bank Ltd]], [[Home Finance Company]] and [[UT Bank]] as well as indigenous Ghana [[Savings and loan association|savings and loan]] institutions [[ABii National]] and [[Savings and Loans Company]].<ref name="heritage" />

=== Stock exchange ===
{{Main|Ghana Stock Exchange}}
The [[Stock exchange|Stock Exchange]] of Ghana is one of the largest in Africa, with a [[market capitalization]] of [[Ghana Cedi|GH¢]]57.2 billion or [[Renminbi|CN¥]]180.4 billion in 2012. South Africa's [[JSE Limited]] is the largest.<ref>{{cite web |url=http://www.icbuk.com/images/uploads/ICBUKGhanaReportSeptember2011.pdf |title=Ghana Market Update |work=icbuk.com |publisher=[[Intercontinental Bank]] |access-date=26 March 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120704014602/http://www.icbuk.com/images/uploads/ICBUKGhanaReportSeptember2011.pdf |archive-date=4 July 2012}}{{rp|13}}</ref>
{{clear}}

== Energy ==
{{Main|Electricity sector in Ghana}}
[[File:Economía Energética y Generación de Energía Eléctrica de Ghana – Energy Economy and Electricity Generation of Ghana (collage).JPG|thumb|240px|Ghana [[hydropower]] and [[solar energy]] [[electricity generation]] industries, and the [[oil and gas industry]]]]
As of 2018, Ghana consumed some 10 MMtoe of primary energy, made mostly of biomass (40%), oil and diesel (40%), followed by hydropower (10%) and natural gas (10%).<ref>{{Cite web |title=Ghana Energy Outlook – Analysis |url=https://www.iea.org/articles/ghana-energy-outlook |access-date=17 August 2022 |website=IEA |date=11 November 2021 |language=en-GB}}</ref>

{| class="wikitable"
|+Total energy consumption in [[Terrawatt-hour]]s (TWh) of Ghana<ref>{{Cite web |title=Primary energy consumption (Ghana) |url=https://ourworldindata.org/grapher/primary-energy-cons?tab=chart&country=~GHA |website=Our World in Data}}</ref>
!1980
!1990
!2000
!2010
!2020
!2021
|-
|25
|{{Increase}}29
|{{Increase}}42
|{{Increase}}55
|{{Increase}}112
|{{Increase}}114
|-
! colspan="6" |Per capita consumption in [[Kilowatt-hour|Kilowatt-hours]] (KWh)<ref>{{Cite web |date=June 20, 2024 |access-date=January 26, 2025 |title=Primary energy consumption per capita |url=https://ourworldindata.org/grapher/per-capita-energy-use?tab=chart&showSelectionOnlyInTable=1&country=~GHA |website=Our World in Data}}</ref>
|-
|2,135
|{{Decrease}}1,900 
|{{Increase}}2,117 
|{{Increase}}2,142 
|{{Increase}}3,484 
|{{Decrease}}3,483
|}

=== Oil & Gas ===
Ghana discovered significant [[Oil reserves in Ghana|reserves of oil]] and natural gas offshore throughout the 2000s and 2010s. The country officially became an oil & gas producer in 2010 with the commissioning of the Jubilee field by [[Tullow Oil]] and currently produces from three major offshore hubs: Jubilee, TEN, and OCTP. In 2021, its production stood at some 150,000 barrels of oil per day (bopd).<ref>{{Cite web |title=Public Interest Accountability Committee |url=https://www.piacghana.org/portal/5/25/piac-reports |access-date=17 August 2022 |website=piacghana.org |archive-date=21 October 2022 |archive-url=https://web.archive.org/web/20221021051030/https://www.piacghana.org/portal/5/25/piac-reports |url-status=dead }}</ref> Since production began in 2010 Ghana has rose to be the 34th largest national producer of oil.<ref name=":1">{{Cite web |date=1 January 2022 |title=Oil Production – Global Rankings |url=https://www.maxinomics.com/ranking/global/oil-production-thousand-barrels-per-day |access-date=28 October 2022 |website=Maxinomics}}</ref>

In 2021 Ghana exported more than 71mil barrels of oil.<ref name=":0">{{Cite web |title=Ghana Crude Oil Exports 2017 – Present |url=https://www.maxinomics.com/ghana/exports/crude-oil |access-date=28 October 2022 |website=Maxinomics}}</ref> China was the largest importer of Ghana oil, receiving over 41% of exports with South Africa, the second largest importer, taking 13.9%.<ref name=":0" />

=== Solar energy ===
Ghana has aggressively begun the construction of solar plants across its [[sun]]-rich land in an aim to become the first country to get 6% of its energy from solar energy generation. Since construction began in the early 2010s electricity generation from solar has gone from zero KWh in 2014 to over 60 GWh in 2020, accounting for .46% of Ghana's electricity consumption.<ref>{{Cite web |date=1 January 2021 |title=Ghana – Solar Electricity Generation 1981 – Present |url=https://www.maxinomics.com/ghana/solar-electricity-generation |access-date=28 October 2022 |website=Maxinomics}}</ref>

=== Wind energy ===
[[File:Wind farm, unknown location.jpg|240px|thumb|[[Wind turbine]]s on a [[wind farm]]]]

Ghana has Class 4–6 wind resources and high-wind locations, such as [[Nkwanta]], the Accra Plains, and Kwahu and Gambaga mountains. The maximum energy that could be tapped from Ghana's available wind resource for electricity is estimated to be about 500–600 [[Kilowatt hour|GWh]]/year.<ref name="Renewable Energy – what is Ghana's wind power potential">{{cite web |url=http://www.arrakis-group.com/2012/12/28/renewable-energy-what-is-ghanas-wind-power-potential/ |title=Renewable Energy – what is Ghana's wind power potential |work=arrakis-group.com |access-date=23 April 2013 |url-status=dead |archive-url=https://web.archive.org/web/20130407152744/http://www.arrakis-group.com/2012/12/28/renewable-energy-what-is-ghanas-wind-power-potential/ |archive-date=7 April 2013}}</ref> To give perspective: in 2011, per the same Energy Commission, the largest Akosombo [[hydroelectric dam]] in Ghana alone produced 6,495 GWh of electric power and, counting all Ghana's [[geothermal energy]] production in addition, the total energy generated was 11,200 GWh in that year.<ref name="Renewable Energy – what is Ghana's wind power potential"/> These assessments do not take into consideration further limiting factors such as land-use restrictions, the existing grid (or how far the wind resource may be from the grid) and accessibility.<ref name="Renewable Energy – what is Ghana's wind power potential"/>

=== Bio-energy ===
[[File:Sorghum field.png|240px|thumb|Hybrid [[sorghum]] plantation field]]
Ghana has put in place mechanisms to attract investments into its [[biomass]] and [[bio-energy]] sectors to stimulate [[rural development]], create jobs and save [[Foreign-exchange reserves|foreign exchange]].<ref name="Ghana Renewable Energy – Bio Energy">{{cite web|url=http://www.energymin.gov.gh/?page_id=205|title=Renewable|work=energymin.gov.gh|access-date=23 April 2013|archive-url=https://web.archive.org/web/20130510152855/http://www.energymin.gov.gh/?page_id=205|archive-date=10 May 2013|url-status=dead}}, {{cite web|url=http://www.china.org.cn/world/Off_the_Wire/2012-10/05/content_26703080.htm|title=Ghana to attract investment into bio-energy sector|author=Shao Hai Jun|location=[[Xinhua]]|work=china.org.cn|publisher=[[China Internet Information Center]]|date=5 October 2012|access-date=23 April 2013}}, {{cite web|url=http://www.wacee.net/News/Ghana-to-attract-investment-into-bio-energy-sector.aspx|title=Ghana to attract investment into bio-energy sector|work=wacee.net|access-date=23 April 2013|archive-url=https://web.archive.org/web/20140912043241/http://www.wacee.net/News/Ghana-to-attract-investment-into-bio-energy-sector.aspx|archive-date=12 September 2014|url-status=dead}}</ref> Main investments in the [[bio-energy]] subsector existed in the areas of production, are transportation, storage, distribution, sale, marketing and exportation.<ref name="Ghana Renewable Energy – Bio Energy" />

The goal of Ghana regarding bio-energy, as articulated by its energy sector policy, is to modernize and examine the benefits of bio-energy on a sustainable basis.<ref name="Ghana Renewable Energy – Bio Energy" /> [[Biomass]] is Ghana's dominant energy resource in terms of endowment and consumption, with the two primary bio-fuels consumed being [[ethanol]] and [[biodiesel]].<ref name="Ghana Renewable Energy – Bio Energy" /> To that effect, the Ghana ministry of Energy in 2010 developed its energy sector strategy and development plan.<ref name="Ghana Renewable Energy – Bio Energy" /> Highlights of the strategy include sustaining the supply and efficient use of [[wood fuel]]s while ensuring that their utilization does not lead to [[deforestation]].<ref name="Ghana Renewable Energy – Bio Energy" />

The plan would support [[private sector]] investments in the cultivation of bio-fuel feedstock, the extraction of [[bio-oil]], and refining it into secondary products, thereby creating financial and tax incentives. The Ghana Renewal Energy Act provides the necessary fiscal incentives for [[renewable energy]] development by the private sector, and also details the control and management of bio-fuel and wood fuel projects in Ghana.<ref name="Ghana Renewable Energy – Bio Energy" /> The Ghana National Petroleum Authority (NPA) was tasked by the [[Renewable Energy]] Act 2011 to price Ghana's bio-fuel blend in accordance with the prescribed petroleum pricing formula.<ref name="Ghana Renewable Energy – Bio Energy" />

The combined effects of climate change and global economic turbulence had triggered a sense of urgency among Ghanaian policymakers, industry and development practitioners to find sustainable and viable solutions in the area of bio-fuels.<ref name="Ghana Renewable Energy – Bio Energy" />

Brazil, which makes ethanol from maize and sugarcane, is currently the world's largest bio-fuel market.<ref name="Ghana Renewable Energy – Bio Energy" />

=== Energy consumption ===
Electricity generation is one of the key factors in achieving the development of the Ghanaian national economy, with aggressive and rapid industrialization; Ghana's national [[electric energy consumption]] was 265 kilowatts per capita in 2009.<ref>{{cite web |work=Proexca |location=Canary Island |url=http://www.proexca.es/El_sector_electricidad_Ghana_2011.jsp |title=The sector of electricity in Ghana |year=2011 |language=es |access-date=23 April 2013 |url-status=dead |archive-url=https://web.archive.org/web/20121224064946/http://www.proexca.es/El_sector_electricidad_Ghana_2011.jsp |archive-date=24 December 2012}}</ref><ref>{{cite web |work = World Bank |language = es |url = http://datos.bancomundial.org/indicador/EG.USE.ELEC.KH.PCv |title = Consumption of Electrical Energy (kWh per capita) |access-date = 23 April 2013}}</ref> Shortages of electricity have led to [[dumsor]] (blackouts),<ref name="germany">{{cite web | url=http://graphic.com.gh/news/politics/37330-i-ve-been-named-mr-dumsor-in-ghana-prez-mahama-tells-ghanaians-in-germany.html | title=I've been named 'Mr Dumsor' in Ghana – Prez Mahama tells Ghanaians in Germany – See more at | publisher=Graphic Communications Group Limited (G.C.G.L) | date=21 January 2015 | access-date=2 March 2015 | website=Graphic Online}}</ref> increasing the interest in renewables.<ref name="graphic1">{{cite web | url=http://graphic.com.gh/features/features/21105-ghana-s-power-crisis-what-about-renewable-energy.html | title=Ghana's power crisis: What about renewable energy? | publisher=graphic.com.gh | date=10 April 2014 | access-date=8 February 2015 | author=Agbenyega, E.}}</ref>

== Hydrocarbon and mining ==
{{Main|Petroleum industry in Ghana|Mining in Ghana}}
[[File:Ghana Mineral Resources (collage).JPG|500px|thumb|{{center|Ghanaian mineral resources: [[bauxite]], diamond, timber and [[manganese]]}}]]
[[File:Ghana Export Trends.jpg|350px|thumb|Ghana's increasing oil exports as a percentage of all exports]]

Ghana has {{convert|5|Goilbbl}} to {{convert|7|Goilbbl}} of [[petroleum]] in reserves. A large oilfield which contains up to {{convert|3|Goilbbl}} of [[sweet crude oil]] was discovered in 2007.<ref>[https://news.yahoo.com/s/ap/20071222/ap_on_re_af/ghana_oil_discovery_3 Ghana's increasing Oil Reserves and New Discoveries] {{webarchive|url=https://web.archive.org/web/20071226200944/http://news.yahoo.com/s/ap/20071222/ap_on_re_af/ghana_oil_discovery_3 |date=26 December 2007}}. ''news.yahoo.com''. 22 December 2007. Retrieved 22 December 2007.</ref> Since these discoveries Ghana increased production steadily, the nations current peak is 200,000 barrels per day in 2019. Current production in 2021 stands at 179,900 barrels per day.<ref name=":1" />

Ghana has vast natural gas reserves, which is used by many foreign multinational companies operating in Ghana.<ref>{{cite web |url = http://www.beg.utexas.edu/energyecon/IDA/Smart_Development/Guide_to_Natural_Gas_in_Ghana.pdf |title = Guide to Natural Gas in Ghana |access-date = 21 April 2013 |work = Bureau of Economic Geology |url-status = dead |archive-url = https://web.archive.org/web/20130928042058/http://www.beg.utexas.edu/energyecon/IDA/Smart_Development/Guide_to_Natural_Gas_in_Ghana.pdf |archive-date = 28 September 2013}}</ref> The hydrocarbon industry has had major implications for regional and urban development in Ghana and these are likely to substantially increase in the years to come<ref>Obeng-Odoom F, 2014, Oiling the Urban Economy: Land, Labour, Capital, and the State in Sekondi-Takoradi, Ghana, Routledge, London</ref>

[[Mining in Ghana|Mining]] has gained importance in the Ghanaian economy since the turn of the 21st century, with a growth of around 30% in 2007.<ref>{{cite web|work= Mondial Nieus |title= Ghana, the best student of the classroom |url = http://www.mo.be/node/18610 |language= es |access-date= 21 April 2013}}</ref> The main mining extractions are [[bauxite]],<ref>{{cite web |author = MBendi |work = Information Services |url = http://www.mbendi.com/indy/ming/baux/af/gh/p0005.htm |title = Bauxite Mining in Ghana-Overview |access-date = 28 December 2011 |archive-url = https://web.archive.org/web/20030711044250/http://www.mbendi.com/indy/ming/baux/af/gh/p0005.htm |archive-date = 11 July 2003 |url-status = dead}}</ref> gold (Ghana is one of the largest gold producers in the world),<ref>{{cite web |work = Proexca |url = http://www.proexca.es/El_mercado_oro_Ghana.jsp |title = Gold in Ghana 2011 market |language = es |access-date = 21 April 2013 |location = Canary Islands |url-status = dead |archive-url = https://web.archive.org/web/20111219212641/http://www.proexca.es/El_mercado_oro_Ghana.jsp |archive-date = 19 December 2011}}</ref> and the [[phosphate]]s.<ref>{{cite web |work= University of Guelph |url= http://www.uoguelph.ca/~geology/rocks_for_crops/28ghana.PDF |title= Ghana |access-date= 20 April 2013 |archive-url= https://web.archive.org/web/20130927201047/http://www.uoguelph.ca/~geology/rocks_for_crops/28ghana.PDF |archive-date= 27 September 2013 |url-status= dead}}</ref>

== Tourism ==
{{Main|Tourism in Ghana}}
[[File:Ghana Tourism sites (collage).JPG|500px|thumb|{{center|Tourism destinations in Ghana<ref name="uniquetrustex.com">{{cite web |url=http://www.uniquetrustex.com/node/162/177/?ex=trade-expo-international-ghana&nid=162 |title=Trade Expo International |work=UniqueTtrustex |access-date=19 April 2013 |url-status=dead |archive-url=https://web.archive.org/web/20130501221713/http://www.uniquetrustex.com/node/162/177/?ex=trade-expo-international-ghana&nid=162 |archive-date=1 May 2013}}</ref>}}]]

The [[Ministry of Tourism, Arts & Culture|Ministry of Tourism]] has placed great emphasis upon further tourism support and development. Tourism contributed to 4.9% of GDP in 2009, attracting around 500,000 visitors. Tourist destinations include Ghana's many castles and forts, national parks, beaches, [[nature reserve]]s, landscapes and [[World Heritage Site|World Heritage]] buildings and sites.<ref>{{cite web |work = Unesco |url = https://whc.unesco.org/en/list/35 |title = Asante Traditional Buildings |access-date = 20 April 2013 |publisher = World Heritage Centre}}</ref><ref>{{cite web |work = Unesco |url = https://whc.unesco.org/en/list/34 |title =Forts and Castles, Volta, Greater Accra, Central and Western Regions |access-date = 20 April 2013}}</ref>

In 2011, ''[[Forbes]]'' magazine ranked Ghana eleventh-friendliest country in the world. The assertion was based on a survey of a cross-section of travelers in 2010. Of all the countries on the African continent that were included in the survey, Ghana ranked highest.<ref name="RANK">{{cite web|title=Forbes: Ghana is eleventh friendliest nation|url=http://vibeghana.com/2011/03/20/forbes-ghana-is-eleventh-friendliest-nation/|publisher=vibeghana.com|access-date=31 May 2011}}</ref>

To enter Ghana, it is necessary to have a visa authorized by the Government of Ghana, except for certain entrepreneurs on business trips.<ref name="TUR">Harvard quotation. Belda. 2004. {{rp|24}}</ref>
{{clear}}

== Agriculture ==
{{Main|Agriculture in Ghana}}

In 2013 agriculture employed 53.6% of Ghana's total labor force.<ref name="Food and Agriculture Policy Decision Analysis: Food and Agricultural Organisation of the United Nations" /><ref name="cs" /> [[Agribusiness]] accounts for a small fraction of the gross domestic product.<ref name="ONU">{{cite web |work= ONU |url= https://www.un.org/es/members/ |title= Members |language= es |access-date= 21 April 2013}}</ref> The main harvested crops are [[Maize|corn]], [[Plantain (cooking)|plantain]], [[rice]], [[millet]], [[sorghum]], [[cassava]] and [[Yam (vegetable)|yam]].<ref>{{cite web |url= http://mofa.gov.gh/site/wp-content/uploads/2011/04/mofa_facts_and_figures.pdf |year= 2009 |title= Agriculture in Ghana (Facts and figures) |access-date= 21 April 2013 |archive-url= https://web.archive.org/web/20120911114010/http://mofa.gov.gh/site/wp-content/uploads/2011/04/mofa_facts_and_figures.pdf |archive-date= 11 September 2012 |url-status= dead}}</ref> Unlike the agricultural livestock, [[forestry]] and fishing sectors, the crop sector is key to the Ghanaian agricultural industry.<ref>{{cite web|work=Natureduca|url=http://www.natureduca.com/geog_paises_ghana.php |title= Ghana |language=es |access-date=21 April 2013}}</ref>

Ghana produced in 2018:

* 20.8 million tons of [[cassava]] (4th largest producer in the world, second only to Nigeria, Thailand and Congo)
* 7.8 million tonnes of [[Yam (vegetable)|yam]] (2nd largest producer in the world, second only to Nigeria)
* 4.1 million tons of [[Cooking banana|plantain]] (2nd largest producer in the world, just behind Congo)
* 2.6 million tons of [[palm oil]] (8th largest producer in the world)
* 2.3 million tons of [[maize]]
* 1.4 million tons of [[taro]] (4th largest producer in the world, second only to Nigeria, China and Cameroon)
* 947 thousand tons of [[Cocoa bean|cocoa]] (2nd largest producer in the world, second only to Ivory Coast)
* 769 thousand tons of [[rice]]
* 753 thousand tons of [[Orange (fruit)|orange]] (19th largest producer in the world)
* 713 thousand tons of [[pineapple]] (11th largest producer in the world)
* 521 thousand tons of [[peanut]]

In addition to smaller productions of other agricultural products, like [[sweet potato]] (151 thousand tons), [[natural rubber]] (23 thousand tons) and [[tobacco]] (2.3 thousand tons).<ref>{{Cite web|url=http://www.fao.org/faostat/en/#data/QC/|title=FAOSTAT|website=fao.org}}</ref>
{{clear}}

== Ghana: Vision 2020 and industrialization ==
With the economic program "Ghana: Vision 2020", Ghana intends to achieve its goals of accelerated economic growth and improved quality of life for all its citizens, by reducing poverty through private investment, rapid and aggressive industrialization, and direct and aggressive poverty-alleviation efforts.<ref name="Ghana – Vision 2020">{{cite web|url=http://www.ndpc.gov.gh/GPRS/Ghana's%20Vision%202020%20-%20First%20Step.pdf|archive-url=https://web.archive.org/web/20200504045742/http://www.ndpc.gov.gh/GPRS/Ghana's%20Vision%202020%20-%20First%20Step.pdf|url-status=dead|archive-date=4 May 2020|title=Ghana – Vision 2020|work=ndpc.gov.gh|access-date=10 July 2014}}</ref> These plans were released in the 1995 government report, Ghana: Vision 2020.<ref name="Ghana – Vision 2020" /> Nationalization of [[state-owned]] enterprises continues, with about two thirds of 300 [[parastatal]] enterprises owned by the government of Ghana.<ref name="Ghana – Vision 2020" /> Other reforms adopted under the government's [[structural adjustment]] program include increasing [[Foreign exchange controls|exchange rate controls]] and increasing [[autarky]] and increasing restrictions on imports.<ref name="Ghana – Vision 2020" />

The Ghana: Vision 2020 forecast assumes political stability; successful economic stabilization; the implementation of Ghana: Vision 2020 policy agenda on private sector growth; and aggressive public spending on social services, infrastructure and industrialization. It projection states that Ghana's goals of reaching [[World Bank high-income economy|high-income economy]] status and [[newly industrialized country]] status will be easily realized between 2020 and 2039.<ref name="Ghana – Vision 2020" /><ref name="Era">{{cite web|url=http://africanbusinessmagazine.com/special-reports/country-reports/ghana-celebrates/is-ghana-entering-a-sweet-golden-era |title=Is Ghana Entering A Sweet, Golden Era?|work=Africanbusinessmagazine.com|date=September 2011 |publisher=[[African Business]] |access-date=10 July 2014}}</ref>

{|style=align="center" border="2" cellpadding="4" cellspacing="0" class="bonita" style="margin: 0.5em 0.5em 0.5em 1em; padding: 0.5em; background: #f9f9f9; border: 1px #aaa solid; border-collapse: collapse; font-size: 95%;"
! colspan="2"|2013 exports to<ref name="Ghana trades">{{cite web|work=atlas.media.mit.edu|url=http://atlas.media.mit.edu/profile/country/gha/|title=The Observatory of Economic Complexity: Ghana|access-date=20 April 2013}}, {{cite web|work=countries.bridgat.com|url=http://www.countries.bridgat.com/Ghana_Trade_Partners.html#.UXL4tUO3Pxf|title=Ghana Major Trade Partners|access-date=20 April 2013|archive-url=https://web.archive.org/web/20130523081902/http://countries.bridgat.com/Ghana_Trade_Partners.html#.UXL4tUO3Pxf|archive-date=23 May 2013|url-status=usurped}}</ref><ref name="Ghana Major Trade Partners" />
! colspan="2"|2013 imports from<ref name="Ghana trades" /><ref name="Ghana Major Trade Partners">{{cite web|work=countries.bridgat.com|url=http://www.countries.bridgat.com/Ghana_Trade_Partners.html#.UXL4tUO3Pxf|title=Ghana Major Trade Partners|year=2013|access-date=21 April 2013|archive-url=https://web.archive.org/web/20130523081902/http://countries.bridgat.com/Ghana_Trade_Partners.html#.UXL4tUO3Pxf|archive-date=23 May 2013|url-status=usurped}}</ref>
!
|-
! Country
! Percentage
! Country
! Percentage
| rowspan="8"|
[[File:Ghana Cocoa & Gold (collage).JPG|thumb|440px|center|[[Sunyani]] Cocoa House and [[Theobroma cacao]]; Ghana is projected to become the largest producer of [[Cocoa bean|cocoa]] in the world.<ref name="Era" /><ref>{{cite web |url=https://graphic.com.gh/archive/General-News/ghana-will-reclaim-top-spot-in-cocoa-production-prez-mahama.html |title=Ghana will reclaim top spot in cocoa production -Prez Mahama |work=Graphic.com.gh |publisher=[[Daily Graphic (Ghana)|Daily Graphic]] |date=5 November 2013 |access-date=10 July 2014 |url-status=dead |archive-url=https://web.archive.org/web/20140302131433/http://graphic.com.gh/archive/General-News/ghana-will-reclaim-top-spot-in-cocoa-production-prez-mahama.html |archive-date=2 March 2014}}</ref><ref>{{Cite journal|last1=Jedwab|first1=Rémi|last2=Moradi|first2=Alexander|year=2012|title=Revolutionizing Transport: Modern Infrastructure, Agriculture and Development in Ghana|url=http://eprints.lse.ac.uk/42263/|publisher=[[London School of Economics]]|access-date=15 June 2013|quote=Two railway lines were built between 1901 and 1923 to connect the coast to mining areas and the large hinterland city of Kumasi. This unintendedly opened vast expanses of tropical forest to cocoa cultivation, allowing Ghana to become the world's largest producer.}}</ref><br />Ghana gold bars; Ghana is the 7th-largest producer of gold in the world.<ref name="Top 10 Gold Producers">{{cite web |url=http://goldinvestingnews.com/9230/top-10-gold-producers.html |title=Top 10 Gold Producers |author=Dave Brown |work=Gold Investing News |access-date=19 April 2013 |archive-url=https://web.archive.org/web/20120226092617/http://goldinvestingnews.com/9230/top-10-gold-producers.html |archive-date=26 February 2012 |url-status=dead}}</ref> ]]
|-
|'''{{flagu|South Africa}}'''
| 46.89%
|'''{{flagu|China}}'''
| 12.46%
|-
|'''{{flagu|Netherlands}}'''
| 12.32%
|'''{{flagu|Nigeria}}'''
| 11.76%
|-
|'''{{flagu|India}}'''
| 5.49%
|'''{{flagu|United States}}'''
| 8.86%
|-
|'''{{flagu|United Kingdom}}'''
| 3.57%
|'''{{flagu|Belgium}}'''
| 5.15%
|-
|'''{{flagu|Malaysia}}'''
| 3.32%
|'''{{flagu|India}}'''
| 4.35%
|-
|'''{{flagu|Switzerland}}'''
| 2.76%
|'''{{flagu|United Kingdom}}'''
| 3.93%
|-
|'''Others'''
|25.65%
|'''Others'''
|53.49%
|}
{{clear}}

== Economic transparency ==
{{Further|Corruption in Ghana}}

[[File:Ghana Percent Wealth Owned.png|thumb|400px|The distribution of wealth ownership in Ghanaian society in 2013. A majority of wealth is held by 20% of the population.]]

The [[Judiciary of Ghana|judicial system of Ghana]] deals with corruption, economic malpractice and lack of economic transparency.<ref name="heritage" /> Despite significant economic progress, obstacles do remain. Particular institutions need reform, and [[Property rights (economics)|property rights]] need improvement. The overall [[Foreign direct investment|investment]] regime lacks [[Transparency (market)|market transparency]]. Tackling these issues will be necessary if Ghana's rapid economic growth is to be maintained.<ref name="heritage" />

According to [[Transparency International]]'s 2022 [[Corruption Perception Index]], Ghana was ranked 72nd out of 180 countries, with a score of 43 on a scale where a 0–9 score means highly corrupt, and a 90–100 score means very clean. This was based on perceived levels of public sector corruption.<ref>{{cite web |title=Corruption Perceptions Index |url=https://www.transparency.org/en/cpi/2022 |website=Transparency.org |date=31 January 2023 |publisher=[[Transparency International]]}}</ref> [[John Addo Kufuor]], son of former President [[John Agyekum Kufuor]] and [[Kojo Annan]], son of former Secretary-General of the United Nations [[Kofi Annan]], have been named in association with the [[Panama Papers]].<ref>{{cite news|url=http://qz.com/653937/africa-loses-more-money-to-illicit-financial-flows-than-it-receives-in-foreign-aid/|title=Africa loses more money to illicit financial flows than it receives in foreign aid|first=Lily|last=Kuo|date=4 April 2016|access-date=24 April 2016|work=Quartz|url-status=dead|archive-url=https://web.archive.org/web/20160417060158/http://qz.com/653937/africa-loses-more-money-to-illicit-financial-flows-than-it-receives-in-foreign-aid/|archive-date=17 April 2016}}</ref>

=== Health and biotechnology ===
The [[Centre for Scientific Research into Plant Medicine]] is an agency of the [[Ministry of Health (Ghana)|Ministry of Health]] that was set up in the 1970s for research and development and as a practical resource (product production & distribution/provision) primarily in areas of biotechnology related to [[medicinal plants]]. This includes both [[herbal medicine]] and work on more advanced applications. It also has a secondary role as an educational resource for foreign students in health, biotechnology and related fields.

=== Cybernetics and cyberwarfare ===
{{See also|Sakawa}}

The use of computer technology for teaching and learning began to receive government of Ghana's attention from the late 1990s.<ref name="Pe" /> The [[information and communications technology]] in education policy of Ghana requires the use of information and communications technology for teaching and learning at all levels of education.<ref name="Pe" /> The [[Ministry of Education (Ghana)|Ministry of Education]] supports institutions in teaching of information and communications technology literacy.<ref name="Pe" /> The majority of secondary, and some basic [[List of schools in Ghana|schools of Ghana]] have computer laboratories.<ref name="Pe">K. D. MEREKU, I. Yidana, W. H. K. HORDZI, I. Tete-Mensah; Williams, J. B. (2009). Pedagogical Integration of ICT: Ghana Report. {{usurped|1=[https://web.archive.org/web/20140808202336/http://www.ernwaca.org/panaf/pdf/phase-1/Ghana-PanAf_Report.pdf]}}</ref>

Ghana's intention to become the information technology hub of West Africa has led the government of Ghana to enact cyber crime legislation and enhance cyber security practices.<ref name="index"/> Acting on that goal, in 2008 Ghana passed the ''Electronic Communications Act'' and the ''Electronic Transactions Act'', which established the legal framework for governing information technology.<ref name="index"/> In November 2011, the Deputy [[Minister for Communications (Ghana)|Minister for Communications]] and Technology announced the development of a national cyber security strategy, aimed at combating cyber crime and securing critical infrastructure.<ref name="index"/>

In June 2012, the [[National Information Technology Agency]] announced a national [[computer emergency response team]] "strategy" designed to co-ordinate government response to cyber-attacks, both internal and external.<ref name="index"/> The agency also established computer emergency response teams for each municipal, metropolitan, and district assembly to improve co-ordination and information-sharing on cyberspace threats.<ref name="index">{{cite web|url=http://www.unidir.org/files/publications/pdfs/cyber-index-2013-en-463.pdf|title=The Cyber Index – International Security Trends and Realities|publisher=unidir.org|pages=63–64|year=2013|access-date=22 July 2014|archive-url=https://web.archive.org/web/20140610215601/http://www.unidir.org/files/publications/pdfs/cyber-index-2013-en-463.pdf|archive-date=10 June 2014|url-status=live}}</ref> Ghana is ranked 2nd in Africa and 7th globally in cyber warfare, cyber-terrorism, cyber crime, and internet crime.<ref>{{cite web |url=https://www.ghanaweb.com/GhanaHomePage/NewsArchive/Cyber-crime-Ghana-2nd-in-Africa-7th-in-the-world-281095 |title=Cyber crime:Ghana 2nd in Africa, 7th in the world |author=<!--Not stated--> |date=1 August 2013 |website=GhanaWeb |access-date=13 July 2017 |archive-url=https://web.archive.org/web/20180131200639/https://www.ghanaweb.com/GhanaHomePage/NewsArchive/Cyber-crime-Ghana-2nd-in-Africa-7th-in-the-world-281095 |archive-date=31 January 2018 |url-status=live}}</ref> In 2018, the National Cyber Security Centre was founded. It is the national agency responsible for cybersecurity.<ref>{{cite web|title=National Cyber Security Center {{!}} Securing Ghana's Digital Journey|url=https://cybersecurity.gov.gh/about|access-date=22 June 2021|website=cybersecurity.gov.gh|archive-date=24 June 2021|archive-url=https://web.archive.org/web/20210624204641/https://cybersecurity.gov.gh/about|url-status=dead}}</ref> In November 2020, Parliament passed the Cybersecurity Act 2020. The Minister for Communications, Ursula Owusu-Ekuful, indicated that, "a successful economy is hinged on a secured, safe and resilient national digital ecosystem. Cyber-security is, therefore, very critical to the economic development of the country and essential to the protection of the rights of individuals within the national digital ecosystem".<ref>{{cite web|title=Cybersecurity Act Passed to Promote & Regulate Cybersecurity Activities {{!}} Ministry of Communications|url=https://www.moc.gov.gh/cybersecurity-act-passed-promote-regulate-cybersecurity-activities|access-date=24 June 2021|website=www.moc.gov.gh|archive-date=18 May 2021|archive-url=https://web.archive.org/web/20210518103938/https://moc.gov.gh/cybersecurity-act-passed-promote-regulate-cybersecurity-activities|url-status=dead}}</ref>

=== Real estate ===
[[File:Luxury Villa House (South Ghana).jpg|thumb|A [[villa]] in [[East Ridge, Accra|East Ridge]]]]
The real estate and [[Real estate economics|housing market]] has become an important and strategic economic sector, particularly in the urban centres of south Ghana such as Accra, Kumasi, Sekondi-Takoradi and Tema.<ref name="Economic Update" /><ref name="Real">{{cite web|url=http://orelghana.com/realestateinghana/|title=Real Estate Market in Ghana|publisher=orelghana.com|date=23 July 2012|access-date=25 July 2013|url-status=dead|archive-url=https://web.archive.org/web/20130702190939/http://orelghana.com/realestateinghana/|archive-date=2 July 2013}}</ref><ref>{{cite web|url=http://www.ghanabizmedia.com/ghanabizmedia/june-2011-real-estate/325-property-market-faces-brighter-growth-prospects.html|title=Property market faces brighter growth prospects|publisher=ghanabizmedia.com|access-date=25 July 2013|archive-url=https://web.archive.org/web/20130713072140/http://www.ghanabizmedia.com/ghanabizmedia/june-2011-real-estate/325-property-market-faces-brighter-growth-prospects.html|archive-date=13 July 2013|url-status=dead}}</ref> However, many of its citizens particularly those in Accra cannot afford the housing prices which is a trait of most major cities globally particularly in the West. Kumasi is growing at a faster rate than Accra, and there is less competition in its real estate market.<ref name="Economic Update" /> The gross rental [[income tax]] of Ghana is withheld at 10%, [[capital gain]]s are taxed at 15% with a 5% [[gift tax]] imposed on the transfer of properties and Ghana's real estate market is divided into 3 areas: public sector real estate development, emerging private sector real estate development, and private individuals.<ref name="Economic Update" /><ref name="Real"/> The activities of these 3 groups are facilitated by the Ghanaian banks and the primary mortgage market which has demonstrated enormous growth potential.<ref name="Real" /> Recent developments have given birth to a boom in the construction sector, including the housing and public housing sector generating and injecting billions of dollars annually into the Ghanaian economy.<ref name="Economic Update" /><ref name="Real" /> The real estate market investment perspective and attraction comes from Ghana's tropical location and robust political stability.<ref name="Economic Update" /><ref name="Real" /> An increasing number of the Ghanaian populace are investing in properties, and the Ghana government is empowering the private sector in the real estate direction.<ref name="Economic Update">{{cite web|url=http://www.oxfordbusinessgroup.com/economic_updates/ghana-private-opportunities-real-estate|title=Economic Update – Ghana: Private opportunities in real estate|publisher=oxfordbusinessgroup.com|date=12 April 2012|access-date=25 July 2013|archive-url=https://web.archive.org/web/20130522164834/http://www.oxfordbusinessgroup.com/economic_updates/ghana-private-opportunities-real-estate|archive-date=22 May 2013|url-status=live}}</ref><ref name="Real" />

=== Trade and exports ===
In July 2013, [[International Enterprise Singapore]] a global office in Accra to develop trade and investment on logistics, oil and gas, aviation, transportation and consumer sectors.<ref name="IE" /> Singapore and Ghana also signed four bilateral agreements to promote public sector and private sector collaboration, as Ghana aims to predominantly shift its economic trade partnership to East Asia and Southeast Asia.<ref name="IE" /> The economic centre is [[International Enterprise Singapore|IE Singapore]]'s second office in Africa.<ref name="IE">{{cite web|url=http://business.asiaone.com/news/ie-spore-opens-second-africa-office-ghana|title=IE S'pore opens second Africa office in Ghana|work=business.asiaone.com|publisher=[[AsiaOne]]|date=27 July 2013|access-date=10 May 2014|archive-url=https://web.archive.org/web/20140512215209/http://business.asiaone.com/news/ie-spore-opens-second-africa-office-ghana|archive-date=12 May 2014|url-status=dead}}</ref> Ghana's labour force in 2008 totalled 11.5&nbsp;million Ghanaian citizens.<ref name="afdb">{{cite web |url=https://africaknowledgelab.worldbank.org/akl/sites/africaknowledgelab.worldbank.org/files/report/Annexes%20for%20Ghana%20Education.pdf |title=Annex 1: Political and Administrative System |archive-url=https://web.archive.org/web/20120501234849/https://africaknowledgelab.worldbank.org/akl/sites/africaknowledgelab.worldbank.org/files/report/Annexes%20for%20Ghana%20Education.pdf |archive-date=1 May 2012 |publisher=World Bank |access-date=29 December 2011}}</ref><ref>{{cite web|url=http://www.afdb.org/fileadmin/uploads/afdb/Documents/Project-and-Operations/GHANA%20CSP%20DRAFT%20FOR%20COMMENTS.pdf|title=Republic of Ghana Country Strategy Paper 2012–2016|publisher=afdb.org|access-date=31 May 2013|archive-url=https://web.archive.org/web/20130228085814/http://www.afdb.org/fileadmin/uploads/afdb/Documents/Project-and-Operations/GHANA%20CSP%20DRAFT%20FOR%20COMMENTS.pdf|archive-date=28 February 2013|url-status=live}}{{rp|12–40}}</ref> [[Tema Harbour]] is Africa's largest manmade harbour, and [[Takoradi Harbour]] along with Tema harbour handle goods and exports. They are also traffic junctions where goods are transhipped; the Tema harbour handles the majority of the nation's export cargo and most of the country's chief exports is shipped from Takoradi harbour.<ref name="GPHA-Sekond-Takoradi" /><ref name="GPHA-Tema" /> The Takoradi harbour and Tema harbour are operated by the state-owned [[Ghana Ports and Harbours Authority]].<ref name="GPHA-Sekond-Takoradi">{{cite web |url=http://ghanaports.gov.gh/tr/default |website=Ghana Ports & Harbours Authority |title=Port of Takoradi |archive-url=https://web.archive.org/web/20140228112618/http://ghanaports.gov.gh/tr/default |archive-date=28 February 2014 |access-date=1 January 2012}}</ref><ref name="GPHA-Tema">{{cite web |url=http://ghanaports.gov.gh/tm/default |website=Ghana Ports & Harbours Authority |title=Port of Tema |archive-url=https://web.archive.org/web/20140228113034/http://ghanaports.gov.gh/tm/default |archive-date=28 February 2014 |access-date=1 January 2012}}</ref>

== Challenges ==
[[File:Bank of Ghana High Street.jpg|thumb|Bank of Ghana]]
Over the years, the country has encountered various economic challenges especially in its bid to become financially sustainable. One of the most prominent has been high public debt.<ref>{{Cite news |last1=Savage |first1=Rachel |last2=Jones |first2=Marc |last3=Savage |first3=Rachel |date=2022-12-09 |title=Explainer: Who holds Ghana's debt and what restructuring is planned? |language=en |work=Reuters |url=https://www.reuters.com/world/africa/who-holds-ghanas-debt-what-restructuring-is-planned-2022-12-09/ |access-date=2023-07-19}}</ref><ref>{{Cite web |title=Ghana's Growing Public Debt and Its Implications for the Economy |url=https://www.ifsghana.org/fiscalalert11/ |access-date=2023-07-19 |language=en-US}}</ref><ref>{{Cite news |date=2023-05-20 |title=Ghana's Public Debt Falls by a Fourth on External Obligations |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2023-05-20/ghana-s-public-debt-falls-by-a-fourth-on-external-obligations |access-date=2023-07-19}}</ref><ref>{{Cite web |title=Ghana 'in high risk of debt distress': Finance minister |url=https://www.aljazeera.com/news/2022/11/24/ghana-in-high-risk-of-debt-distress-finance-minister |access-date=2023-07-19 |website=www.aljazeera.com |language=en}}</ref> In January 2023, the [[Bank of Ghana]] reported that the country's level of debt was up to the tune of GH¢575.7 billion at the end of November 2022.<ref>{{Cite web |date=2023-01-30 |title=Ghana's debt stock hits GH¢575bn; debt to GDP ratio now 93.5% |url=https://citinewsroom.com/2023/01/ghanas-debt-stock-hits-gh%c2%a2575bn-debt-to-gdp-ratio-now-93-5/ |access-date=2023-07-19 |website=Citinewsroom - Comprehensive News in Ghana |language=en-US}}</ref>

== Child labor ==
{{excerpt|Child labor in Africa|Ghana}}

== See also ==
* [[Economic history of Ghana]]
* [[United Nations Economic Commission for Africa]]
* [[List of countries by gold production]]

== References ==
{{Reflist}}

== Notes ==
{{reflist|group=note}}

== External links ==
* [http://www.oilandgasinfrastructure.com/home/oilandgasafrica/ghana Google Earth map of the oil and gas infrastructure in Ghana]
* [http://wits.worldbank.org/CountryProfile/Country/GHA/Year/2012/Summary World Bank Trade Summary Statistics Ghana]

{{Ghana topics}}
{{Africa in topic|Economy of}}
{{World Trade Organization}}

[[Category:Economy of Ghana| ]]
[[Category:Economies of developing countries]]
[[Category:Industrial Revolution]]