Latest Economic Figures for Ghana – September 2023

  1. Provisional GDP growth rate for Q2 2023 is 3.2%.
  2. Inflation (year-on-year) for August 2023 Is 40.1%.
  3. Monetary policy rate is 30%.
  4. Interbank lending rate was 26.59% for August 2023.
  5. Average lending rate was 31.78% for August 2023.
  6. Total Exports as at August 2023 was US$10.77 billion. Gold Exports US$4.67 billion (43.4%). Cocoa Exports US$1.6 billion (14.9%). Oil Exports US$2.37 billion (22%).
  7. Total Imports as at August 2023 was US$8.75 billion. Oil imports was US$2.65 billion (30%).
  8. Trade surplus as at August 2023 was US$2.02 billion (2.6% 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$341 million (0.4% of GDP).
  11. Budget deficit as at June 2023 was 1.3% of GDP.
  12. External debt as at June 2023 was US$29.9 billion (GH¢328.6bn) (41% of GDP).
  13. Domestic debt as at June 2023 was GH¢246.9 billion (30.8% of GDP).
  14. Total Public debt as at June 2023 was GH¢575.5 billion (71.9% of GDP).
  15. Non-Performing loans (of banks) as at August 2023 was 20%.
  16. Active mobile money accounts were 21.6 million as at August 2023.
  17. Market capitalisation of the GSE was GH¢73.3 billion as at August 2023.
  18. Gross International reserves are US$5.09 billion as at August 2023 (2.4 months of import cover).
  19. Net International reserves are US$2.02 billion as at August 2023. (0.6 months of import cover)
  20. Balance on the Petroleum Holding Funds (Stabilisation Fund & Heritage Fund) is $1.1 billion as at August 2023.
  21. Nominal GDP is GH¢800.9 billion.

Data Sources: Bank of Ghana, GSE, GSS

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