Industry in Ghana

Ghana Industry | Economic News & Forecasts

Ghana - Industry

Growth gained traction in Q4 2021, thanks to stronger agricultural activity and a rebound in the industrial sector, with output rising at the fastest pace in two-and-a-half years in Q4. In contrast, the services sector lost momentum, although it remained sturdy overall. Turning to 2022, economic headwinds seem to be picking up. Economic activity growth weakened in January, while the PMI slipped into contractionary territory on average in Q1, suggesting that business conditions deteriorated. Moreover, the cedi has lost almost a fifth of its value against the USD so far this year, while inflation soared to an over-decade high in April, further stoked by the fallout from the Russia-Ukraine war. As rising prices are likely to curb private spending growth, Ghana is also facing a looming debt crisis, with government plans to cut spending and introduce new taxes boding poorly for activity ahead.

Ghana - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)1.1  4.3  15.7  10.6  6.4  

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Ghana Facts

Value Change Date
Exchange Rate5.700.0 %Jan 01
Stock Market0.10.0 %Dec 31

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