Latest Economic Figures for Ghana – January 2024

  1. Provisional GDP growth rate for Q3 2023 is 2%.
  2. Inflation for 2023 is 23.2%.
  3. Monetary policy rate is 30%.
  4. Interbank lending rate was 30.19% for December 2023.
  5. Average lending rate was 33.75% for December 2023.
  6. Total Exports for 2023 was US$16.64 billion. Gold Exports US$7.6 billion (46%). Cocoa Exports US$2.1 billion (13%). Oil Exports US$3.84 billion (23%).
  7. Total Imports for 2023 was US$14 billion. Oil imports was US$4.5 billion (32%).
  8. Trade surplus for 2023 was US$2.6 billion (3.4% 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 September 2023 was 2.5% of GDP.
  12. External debt as at September 2023 was US$29.4 billion (GH¢326.7bn) (38.2% of GDP).
  13. Domestic debt as at September 2023 was GH¢240.6 billion (28.1% of GDP).
  14. Total Public debt as at September 2023 was GH¢567.3 billion (66.4% of GDP).
  15. Non-Performing loans (of banks) as at December 2023 was 20.7%.
  16. Active mobile money accounts were 22.8 million as at December 2023.
  17. Total value of mobile money transactions in December 2023 was GH¢199.3 billion.
  18. Market capitalisation of the GSE was GH¢73.9 billion as at December 2023.
  19. Gross International reserves are US$5.9 billion as at December 2023 (2.7 months of import cover).
  20. Net International reserves are US$3.13 billion as at December 2023. (1.1 months of import cover)
  21. Balance on the Petroleum Holding Funds (Stabilisation Fund & Heritage Fund) is $1.24 billion as at December 2023.
  22. Nominal GDP is GH¢854.8 billion.

Data Sources: Bank of Ghana, GSE, GSS

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