Latest Economic Figures for Ghana – March 2023

  1. Provisional GDP growth rate for Q3 2022 is 2.9%.
  2. Inflation (year-on-year) as at February 2023 was 52.8%.
  3. Monetary policy rate is 29.5%.
  4. Interbank lending rate was 25.73% as at February 2023.
  5. Average lending rate was 36.64% as at February 2023.
  6. Total Exports as at February 2023 was US$2.77 billion. Gold Exports US$1.12 billion (40%). Cocoa Exports US$546.9 (19.7%). Oil Exports US$562.6 million (20%).
  7. Total Imports as at February 2023 was US$2.14 billion. Oil imports was US$622.9 million (29%).
  8. Trade surplus as at February 2023 was US$752.8 million (3.8% of GDP).
  9. Current account deficit for 2022 was US$1.5 billion (2.1% of GDP).
  10. Overall Balance of Payments deficit for 2022 was US$3.64bn (5% of GDP).
  11. Budget deficit for 2022 was 8.1% of GDP.
  12. External debt as at December 2022 was US$29.2 billion (GH¢382.7bn) (62.1% of GDP).
  13. Domestic debt as at December 2022 was GH¢193.1bn (31.4% of GDP).
  14. Total Public debt as at December 2022 was GH¢575.7bn (93.5% of GDP).
  15. Non-Performing loans (of banks) as at December 2022 was 14.8%.
  16. Active mobile money accounts were 20.5 million as at February 2023.
  17. Market capitalisation of the GSE was GH¢64.2 billion as at February 2023.
  18. Gross International reserves are US$5.92 billion as at February 2023 (2.8 months of import cover).
  19. Net International reserves are US$2.62 billion as at February 2023.
  20. Balance on the Petroleum Holding Funds (Stabilisation Fund & Heritage Fund) is $1.04 billion as at February 2023.
  21. Nominal GDP is GH¢615.8 billion.

Data Sources: Bank of Ghana, GSE, GSS

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