Ghana - Income





The US Central Intelligence Agency (CIA) reports that in 2001 Ghana's gross domestic product (GDP) was estimated at $39.4 billion. The per capita GDP was estimated at $1,980. The annual growth rate of GDP was estimated at 3%. The average inflation rate in 2001 was 25%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 36% of GDP, industry 25%, and services 39%.

According to the United Nations, in 2000 remittances from citizens working abroad totaled $32 million or about $2 per capita and accounted for approximately 0.7% of GDP. Worker remittances in 2001 totaled $34.02 million. Foreign aid receipts amounted to about $33 per capita and accounted for approximately 13% of the gross national income (GNI).

The World Bank reports that in 2001 per capita household consumption (in constant 1995 US dollars) was $305. Household consumption includes expenditures of individuals, households, and nongovernmental organizations on goods and services, excluding purchases of dwellings. It was estimated that for the same period private consumption declined at an annual rate of 1%. The richest 10% of the population accounted for approximately 30.1% of household consumption and the poorest 10% approximately 2.2%. It was estimated that in 1992 about 31% of the population had incomes below the poverty line.

User Contributions:

anabire anthony
Report this comment as inappropriate
Jun 8, 2007 @ 10:10 am
with the above information do think the economy of ghana is doing well?
Report this comment as inappropriate
Jul 22, 2010 @ 10:10 am
I believe the economy of ghana can do better if the oil and gas exploration and production in commercial quatities is fully utilized to the benefit of the low class and middle class citizen. when a nation is able to create enough opportunities for the people to have jobs and be able to acquire a house of their own, only then will the economy move on
Report this comment as inappropriate
May 8, 2011 @ 10:10 am
With the information above,I believe much attention should be given to Agriculture sector.
May I know how much (percentage)cocoa contributes to Ghana's Economy?

Comment about this article, ask questions, or add new information about this topic:

CAPTCHA


Ghana forum