Investment in Ghana
Ghana - Investment
GDP falls at slower rate in the third quarter
GDP declined at a more moderate pace of 1.1% year-on-year in the third quarter, above the 3.2% contraction logged in the second quarter.
The print came on the back of stronger growth in the agricultural sector (Q3: +8.3% year-on-year; Q2: +2.5% yoy), while the contractions in the industrial and services sectors softened from 5.7% and 2.6% to 5.1% and 1.1%, respectively. Industrial output was particularly hard-hit by nosediving activity in the mining and quarrying subsector, while ongoing Covid-19 restrictions weighed on the services sector in the quarter.
On a seasonally-adjusted quarter-on-quarter basis, GDP dropped 0.3% in Q3, up from the previous quarter's 0.8% fall.
Looking at 2021, the economy is forecast to bounce back as the easing of restrictions at home and abroad strengthens domestic and foreign demand. However, growth will be partly flattered by a supportive base effect. Moreover, volatile commodity prices, deteriorating government finances and a potential further flare-up in Covid-19 cases cloud the outlook.
FocusEconomics Consensus Forecast panelists project GDP to expand 0.8% in 2021, which is unchanged from last month’s forecast. In 2022, panelists expect GDP to grow 5.4%.
Ghana - Investment Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Investment (annual variation in %) | -2.7 | 12.2 | 1.0 | 13.2 | -10.0 |
Ghana Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 5.70 | 0.0 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Dec 31 |
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Economic News
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Ghana: Inflation drops in January
February 10, 2021
Consumer prices rose a seasonally-adjusted 0.93% from the previous month in January, picking up slightly from the 0.90% increase logged in December 2020.
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Ghana: Improvement in operating conditions strengthens at the start of 2021
February 3, 2021
The IHS Markit Ghana Purchasing Managers’ Index (PMI) bounced back from 50.3 in December 2020 to 51.2 in January.
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Ghana: Central Bank stands pat for fifth consecutive meeting in January
February 1, 2021
At its 26–29 January meeting, the Monetary Policy Committee of the Bank of Ghana decided to keep the policy rate steady at 14.50%, marking the fifth consecutive hold.
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Ghana: GDP falls at slower rate in the third quarter
January 21, 2021
GDP declined at a more moderate pace of 1.1% year-on-year in the third quarter, above the 3.2% contraction logged in the second quarter. The print came on the back of stronger growth in the agricultural sector (Q3: +8.3% year-on-year; Q2: +2.5% yoy), while the contractions in the industrial and services sectors softened from 5.7% and 2.6% to 5.1% and 1.1%, respectively.
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Ghana: Inflation climbs to three-month high in December
January 11, 2021
Consumer prices rose a seasonally-adjusted 0.93% from the previous month in December, accelerating from the 0.29% increase logged in November.
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