Latest Economic Figures for Ghana – November 2023

  1. Provisional GDP growth rate for Q2 2023 is 3.2%.
  2. Inflation (year-on-year) for October 2023 Is 35.2%.
  3. Monetary policy rate is 30%.
  4. Interbank lending rate was 28.49% for October 2023.
  5. Average lending rate was 32.69% for October 2023.
  6. Total Exports as at October 2023 was US$13.45 billion. Gold Exports US$6.07 billion (45%). Cocoa Exports US$1.7 billion (12.7%). Oil Exports US$3.07 billion (22.8%).
  7. Total Imports as at October 2023 was US$11.4 billion. Oil imports was US$3.69 billion (32.4%).
  8. Trade surplus as at October 2023 was US$2.06 billion (2.7% of GDP).
  9. Current account surplus as at September 2023 was US$1.05 billion (1.4% of GDP).
  10. Overall Balance of Payments deficit as at September 2023 was US$617 million (0.8% of GDP).
  11. Budget deficit as at August 2023 was 3% of GDP.
  12. External debt as at August 2023 was US$29.4 billion (GH¢326.7bn) (38.2% of GDP).
  13. Domestic debt as at August 2023 was GH¢240.6 billion (28.1% of GDP).
  14. Total Public debt as at August 2023 was GH¢567.3 billion (66.4% of GDP).
  15. Non-Performing loans (of banks) as at October 2023 was 18.3%.
  16. Active mobile money accounts were 22.1 million as at October 2023.
  17. Market capitalisation of the GSE was GH¢73.7 billion as at October 2023.
  18. Gross International reserves are US$5.15 billion as at October 2023 (2.4 months of import cover).
  19. Net International reserves are US$2.16 billion as at October 2023. (1.1 months of import cover)
  20. Balance on the Petroleum Holding Funds (Stabilisation Fund & Heritage Fund) is $1.1 billion as at October 2023.
  21. Nominal GDP is GH¢854.8 billion.

Data Sources: Bank of Ghana, GSE, GSS

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