Ghana GDP


Ghana: Economy accelerates in 2015

November 12, 2015

According to preliminary estimates released by the Ghana Statistics Service (GSS), the economy has likely shown growth of 4.1% in 2015. The figure marks an improvement over the 4.0% increase seen in the previous year. Moreover, the non-oil GDP grew 4.2% this year, which is also an improvement over the 3.9% growth tallied in 2014.

In 2015, the industry sector recorded growth of 9.1%. The figure, which marked the fastest increase in three years, was significantly better than the 0.8% expansion observed in the previous year. Conversely, the service sector decelerated in 2015 and grew 4.7% (2014: +5.6% year-on-year). Finally, the agriculture sector stalled in 2015 as it recorded flat growth over the previous year. The figure was a deterioration over the 4.6% increase observed in 2014.

The government expects the economy to expand 3.9% in 2015 and 6.9% in 2016. FocusEconomics Consensus Forecast panelists project that the economy will grow 3.5% in 2015, which is down 0.4 percentage points from last month’s forecast. For 2016, the panel expects GDP to expand 5.4%, which is down 0.1 percentage points from last month’s Consensus.

Author:, Senior Economist

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Ghana GDP Chart

Ghana GDP Q215 0

Note: Year-on-year changes of GDP in %.
Source: Ghana Statistical Service and FocusEconomics Consensus Forecast

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