Only way forward is up

C4

HIGH RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in January 2024.

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GDP USD72.8bn (World ranking 77, World Bank 2022)
Population 33.5mn (World ranking 47, World Bank 2022)
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 and strong economic growth
  • Natural resource base (cocoa, gold, forestry etc.,) now supplemented by the discovery of commercially exploitable oil reserves
  • Market-oriented policy framework and overall positive relations with international financial institutions
  • Effects of the selective default in late 2022 and the relative restructuring have alienated businesses, while continuing twin deficits (fiscal and current account) require careful management
  • High exposure to sell-off pressures in emerging economies with periodic risk of currency depreciation, FX reserve depletion and payment crisis
  • While some safeguards are established, the capability to manage oil wealth is yet to be tested as well as spillover effects from prolonged regional instability

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
Switzerland 16.4%
1
25.9% China
China 15.6%
2
7.1% Nigeria
United States 9.0%
3
6.8% United States of America
United Arab Emirates 8.5%
4
4.7% India
India 7.9%
5
4.4% United Kingdom

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Gold, non-monetary (excluding gold ores and concentrates) 33.1%
1
9.3% Road vehicles
Petroleum, petroleum products and related materials 32.6%
2
7.1% Manufactures of metal, n.e.s.
Coffee, tea, cocoa, spices, and manufactures thereof 11.8%
3
6% Cereals and cereal preparations
Metalliferous ores and metal scrap 3.5%
4
5.2% Petroleum, petroleum products and related materials
Vegetables and fruits 2.5%
5
5.0% Iron and steel
Popular Risk Reports: Americas

Popular Risk Reports: Europe

Popular Risk Reports: Asia Pacific

Popular Risk Reports: Middle East

Popular Risk Reports: Africa