Latest Economic Figures for Ghana – July 2023

  1. Provisional GDP growth rate for Q1 2023 is 4.2%.
  2. Inflation (year-on-year) for June 2023 Is 42.5%.
  3. Monetary policy rate is 29.5%.
  4. Interbank lending rate was 26.01% for June 2023.
  5. Average lending rate was 31.15% for June 2023.
  6. Total Exports as at June 2023 was US$8.18 billion. Gold Exports US$3.46 billion (42%). Cocoa Exports US$1.48 billion (18%). Oil Exports US$1.66 billion (20%).
  7. Total Imports as at June 2023 was US$6.4 billion. Oil imports was US$1.9 billion (30%).
  8. Trade surplus as at June 2023 was US$1.77 billion (2.4% of GDP).
  9. Current account surplus as at June 2023 was US$849 million (1.1% of GDP).
  10. Overall Balance of Payments deficit as at June 2023 was US$107.8 million (0.1% of GDP).
  11. Budget deficit as at May 2023 was 1.8% of GDP.
  12. External debt as at April 2023 was US$29.3 billion (GH¢321.4bn) (40.1% of GDP).
  13. Domestic debt as at April 2023 was GH¢247.9 billion (30.9% of GDP).
  14. Total Public debt as at April 2023 was GH¢569.3 billion (71.1% of GDP).
  15. Non-Performing loans (of banks) as at June 2023 was 18.7%.
  16. Active mobile money accounts were 22.1 million as at June 2023.
  17. Market capitalisation of the GSE was GH¢70.2 billion as at June 2023.
  18. Gross International reserves are US$5.34 billion as at June 2023 (2.5 months of import cover).
  19. Net International reserves are US$2.33 billion as at June 2023.
  20. Balance on the Petroleum Holding Funds (Stabilisation Fund & Heritage Fund) is $1.1 billion as at June 2023.
  21. Nominal GDP is GH¢800.9 billion.

Data Sources: Bank of Ghana, GSE, GSS

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