Current Account in Ghana

Ghana Current Account | Economic News & Forecasts

Ghana - Current Account

The economy posted solid growth in the second quarter, propped up by soaring output within the industrial sector. The industrial sector’s strong performance was underpinned by the booming mining and quarrying industry, which expanded by nearly a quarter in Q2 in annual terms. On the external front, solid global demand and higher prices for gold and cocoa—Ghana’s top two export commodities—were likely behind a marked acceleration in exports in the second quarter. Incoming data suggests that the economy likely lost some traction in the second half of the year, however. The PMI slipped into negative territory in September, signaling a deterioration in Ghanaian business conditions and, despite bouncing back to positive territory in October, points to a slowdown in private sector activity in the second half of 2018. Meanwhile, inflation remained moderately elevated in Q3 which, coupled with a weakening currency, potentially weighed on household purchasing power, boding ill for private consumption growth in Q3.

Ghana - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-12.6  -9.9  -7.8  -6.7  -4.5  

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Ghana Current Account Chart

Ghana Current Account
Note: Current account balance as % of GDP.
Source: Bank of Ghana

Ghana Facts

Exchange Rate4.940.0 %Dec 11
Stock Market0.10.0 %Dec 07

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