Industry in Ghana

Ghana Industry | Economic News & Forecasts

Ghana - Industry

Available data for the first quarter signals a further cooling after a downturn in the all-important oil and gas sector weighed on growth in the final quarter of 2018. Household consumption likely decelerated in Q1 as the cedi’s marked fall against the U.S. dollar, coupled with elevated inflation, appears to have eaten into consumer demand. On top of that, significant volatility in the foreign exchange markets likely curbed investment activity growth. External sector metrics were also downbeat: Merchandise exports fell on an annual basis in the quarter, largely due to lower cocoa shipments and stagnant gold exports. Meanwhile, incoming data suggests that soft momentum carried over into the second quarter: The PMI fell to a six-month low in May amid stagnating business activity, while cedi volatility and still-high inflation pointed to sustained headwinds to domestic demand.

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 Rate5.390.0 %Jun 20
Stock Market0.40.0 %Jun 20

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