Economy of Ghana

Economy of Ghana

Gross Domestic Product 2012

GDP (purchasing power parity): $83.18 billion

GDP real growth rate: 8.2%

GDP per capita (PPP): $3,300

GDP composition by sector

Agriculture: 24.6%

Industry: 27.4%

Services: 47.9%

Inflation: 8%

Currency: cedi (GHS)

Business Languages

The commercial languages include the following

English

Asante

Ewe

Transport

Transport in Ghana is accomplished by road system of 13,367 kilometres, rail cover 935 kilometres, air transport where a country has over 6 airports and water whereby Volta, Ankobra and Tano rivers provide 168 kilometres of perennial navigation and seaports and harbours with ports on the Atlantic Ocean at Takoradi and Tema.

Energy

The major sources of energy in Ghana include; biomass sources particularly wood fuels and charcoal, hydroelectricity which accounts for 85 percent of electricity generation and natural gas reserves

Challenges in Ghana

  • Infrastructural constraint such as feeder roads that links their economic activity, mostly farming, to urban market centres
  • Low productivity especially in agriculture
  • Limited support for food crop farmers
  • Investment climate remains weak: despite the recent improvement in the ease of doing business in Ghana
  • Weak employment-friendly growth

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of Muhaise.com blog and bigdrumassociates.com company. Learn more about him here and connect with him on his social medias below

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