
Ghana
Only way forward is up
C4
HIGH RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in May 2023.
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GDP | USD77.59bn ( World ranking 72, World Bank 2021) |
Population | 31.73mn (World ranking 47, World Bank 2021) |
Form of state | Constitutional Democracy |
Head of state | Nana Akufo-Addo (President) |
Next elections | 2024, presidential and legislative |

- Established track record of good governance, with a functioning democratic system and peaceful transfer of power among political parties.
- Natural resource base (cocoa, gold, forestry etc.) now supplemented by discovery of commercially-exploitable oil reserves – output from 2011.
- Strong GDP growth in recent years, even with a downturn in 2014-15.
- Market-oriented policy framework.
- Positive relations with the IFIs.

- Continuing twin deficits (fiscal and current account) require careful management.
- While some safeguards are established, the ability and capacity to manage oil wealth is yet to be improved.
- High exposure to sell-off pressures in emerging economies. There is therefore periodic risk of currency depreciation, FX reserve depletion and capital flight.
- Regional instability and uncertainties, including in Burkina Faso, Nigeria and Mali.
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Switzerland
14.8%
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1 |
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China
13.3%
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2 |
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South Africa
10.8%
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3 |
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India
8.9%
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4 |
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United Arab Emirates
8.5%
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5 |
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Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Gold, non-monetary (excluding gold ores and concentrates)
36.2%
|
1 |
9.8%
Road vehicles
|
Petroleum, petroleum products and related materials
29.7%
|
2 |
7.1%
Manufactures of metal, n.e.s.
|
Coffee, tea, cocoa, spices, and manufactures thereof
15.8%
|
3 |
5.7%
Cereals and cereal preparations
|
Metalliferous ores and metal scrap
3.3%
|
4 |
4.7%
Iron and steel
|
Vegetables and fruits
3.1%
|
5 |
4.5%
Other industrial machinery and parts
|
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