Current Account in Ghana

Ghana Current Account | Economic News & Forecasts

Ghana - Current Account

Growth momentum appears to have been broadly sustained in the third quarter. The PMI averaged higher from Q2, amid solid growth in output and employment, hinting at improving private sector activity in Q3. On the other hand, external sector metrics were less encouraging: Merchandise exports lost some steam in Q3, which, coupled with a marked jump in imports, led to a wider current account deficit. Turning to Q4, available data is mixed. Whereas the PMI bounced back strongly from October’s 13-month low in November, business activity was likely bruised by currency-related uncertainty. In December, the cedi slumped to an all-time low after the government’s 2020 budget proposal promised to increase spending by 21.0% next year. Meanwhile, favorable prices for Ghana’s key export commodities boded well for the external sector in October–November.

Ghana - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-9.5  -7.2  -5.9  -5.2  -3.4  

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Ghana Current Account Chart


Ghana Current Account
Note: Current account balance as % of GDP.
Source: Bank of Ghana

Ghana Facts

ValueChangeDate
Exchange Rate5.700.0 %Jan 01
Stock Market0.10.0 %Dec 31

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