Investment in Ghana
Ghana - Investment
GDP growth records quickest upturn since Q2 2019 in the final quarter of 2021
GDP growth sped up to 7.0% year on year in the fourth quarter, from 6.5% in the third quarter. Q4's reading marked the best result since Q2 2019.
Looking at the breakdown, the acceleration came chiefly on the back of a rebound in industrial activity. The industrial sector grew 4.8% annually in the fourth quarter, contrasting the third quarter's 1.6% decrease and marking the best reading since Q2 2019. In addition, the agricultural sector gained steam, growing 8.2% in Q4 (Q3: +7.6% yoy). Meanwhile, services sector growth fell to 8.1% in Q4, marking the worst result since Q1 2021 (Q3: +13.6% yoy).
On a seasonally-adjusted quarter-on-quarter basis, economic growth improved to 1.8% in Q4, following the previous period's 1.5% expansion and similarly marking the strongest growth in over two years.
Going forward, this year’s outlook appears increasingly clouded by a troublesome inflationary backdrop and the country’s large public debt levels. Commenting on the outlook, analysts at the EIU highlighted the potential effects of tightening monetary policy this year:
“Sustained tightening of monetary policy and government intervention will help to partially stabilize inflationary and depreciatory pressures, while curtailing domestic demand.”
Meanwhile, analysts at Goldman Sachs said:
“Ghana has experienced severe FX depreciation and intensified balance of payments pressures year-to-date in addition to exceptionally high inflation. […] We expect fiscal dynamics and external pressures to weigh on growth in 2022, resulting in a reduction in annual GDP growth to +3.9% yoy.”
FocusEconomics panelists project the economy to expand 4.8% in 2022, which is down 0.2 percentage points from last month’s forecast, and 4.9% in 2023.
Ghana - Investment Data
|Investment (annual variation in %)||-2.7||12.2||1.0||13.2||-10.0|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||5.70||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Dec 31|
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June 3, 2022
The S&P Global Purchasing Managers’ Index (PMI) came in at 47.4 in May, down from April's 48.3.
May 11, 2022
Consumer prices rose a seasonally-adjusted 5.17% in April over the previous month, picking up from the 4.02% increase logged in March.
May 5, 2022
The S&P Global Purchasing Managers’ Index (PMI) came in at 48.3 in April, up from March's 47.2.
April 13, 2022
Consumer prices increased a seasonally-adjusted 4.05% from the previous month in March, accelerating from February's 2.33% rise.
April 6, 2022
The S&P Global Purchasing Managers’ Index (PMI) came in at 47.2 in March, down from February's 49.6.