Industry in Ghana

Ghana Industry | Economic News & Forecasts

Ghana - Industry

Available data for the third quarter suggests the economy lost traction from Q2. Private sector activity contracted in September for the first time in nearly three years, reflected by a fall in the PMI below the critical 50-point threshold that separates improvement from deterioration in business conditions. Reduced demand and ongoing weakness in the cedi led to lower output and drove the downturn. On a positive note, exports picked up in July on strong global demand for gold and cocoa—Ghana’s top two export commodities—outpacing the upturn in imports, which improved the trade balance. Moreover, at the end of September, the country’s Statistical Institute included new data sources and changed the base year to measure the economy’s GDP—from 2006 to 2013—which has led to a revised estimate of the Ghanaian economy that is almost a quarter bigger than previously calculated.

Ghana - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)6.6  0.8  -0.3  -0.5  16.7  

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Ghana Facts

Exchange Rate4.850.0 %Oct 22
Stock Market0.40.0 %Oct 19

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