Current Account in Ghana
Ghana - Current AccountOn the heels of a quicker GDP growth figure in Q2 amid strong performances in the services and agricultural sectors, available data for the third quarter points to sustained underlying momentum. Although economic activity moderated slightly in August, it still posted double-digit growth. Moreover, household spending was likely propped up by higher consumer confidence in the same month, while the private sector PMI remained in expansionary territory on average in July–September, revealing a continued improvement in private sector activity in the quarter. Turning to Q4, despite a relatively swift vaccination campaign and a marked drop in new Covid-19 cases, authorities yet again opted to leave restrictions unchanged on 22 October, which could be capping activity in the period.
Ghana - Current Account Data
|Current Account (% of GDP)||-5.9||-5.2||-3.4||-3.2||-2.5|
5 years of economic forecasts for more than 30 economic indicators.
Ghana Current Account Chart
Source: Bank of Ghana
|Exchange Rate||5.70||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Dec 31|
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November 10, 2021
Consumer prices rose a seasonally-adjusted 0.61% from the previous month in October, ticking down from September’s 0.64% increase.
October 13, 2021
Consumer prices rose a seasonally-adjusted 0.64% from the previous month in September, picking up from August’s 0.27% increase.
October 5, 2021
The IHS Markit Purchasing Managers’ Index (PMI) came in at 51.0 in October, down from the previous month’s 52.6 which had marked the strongest reading since October 2020.
September 27, 2021
At its meeting on 22–24 September, the Monetary Policy Committee of the Bank of Ghana (BoG) decided to keep its policy rate at 13.50%, as expected by market analysts. The decision to leave rates unchanged was mainly due to a need to balance both the ongoing economic recovery and inflationary pressures.
September 25, 2021
According to data released by the Ghana Statistical Service, GDP growth accelerated to 3.9% year-on-year in the second quarter, gaining steam from the 3.1% expansion logged in the first quarter and marking the fastest increase since Q1 2020. Q2’s improvement came despite largely unchanged Covid-19 restrictions throughout the period.