Latest Economic Figures for Ghana – March 2024

  1. Provisional GDP growth rate for 2023 is 2.9%.
  2. Inflation for February 2024 is 23.2%.
  3. Monetary policy rate is 30%.
  4. Interbank lending rate was 29.19% for February 2024.
  5. Average lending rate was 32.77% for February 2024.
  6. Total Exports as at February 2024 was US$2.86 billion. Gold Exports US1.26 billion (44%). Cocoa Exports US$508 million (18%). Oil Exports US$619.8 million (22%).
  7. Total Imports as at February 2024 was US$2.48 billion. Oil imports was US$598.5 million (24%).
  8. Trade surplus as at February 2024 was US$392.8 million (0.5% of GDP).
  9. Current account surplus for 2023 was US$1.1 billion (1.4% of GDP).
  10. Budget deficit for 2023 was 3.3% of GDP.
  11. External debt as at December 2023 was US$30.1 billion (GH¢350.3bn) (41.6% of GDP).
  12. Domestic debt as at December 2023 was GH¢259.7 billion (30.9% of GDP).
  13. Total Public debt as at December 2023 was GH¢610 billion (72.5% of GDP).
  14. Non-Performing loans (of banks) as at February 2023 was 24.6%.
  15. Active mobile money accounts were 23.1 million as at February 2024.
  16. Total value of mobile money transactions as at February 2024 was GH¢394.2 billion.
  17. Gross International reserves were US$6.2 billion as at February 2024 (2.8 months of import cover).
  18. Net International reserves were US$3.5 billion as at February 2024. (1.8 months of import cover)
  19. Balance on the Petroleum Holding Funds (Stabilisation Fund & Heritage Fund) is $1.17 billion as at February 2024.
  20. Nominal GDP is GH¢841.6 billion.

Data Sources: Bank of Ghana, GSE, GSS

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