Current Account in Ghana

Ghana Current Account | Economic News & Forecasts

Ghana - Current Account

Although the full picture is still unclear, available economic data signals that the pace of growth decelerated in recent months. The PMI deteriorated markedly through August from May’s eight-month high, suggesting that momentum in Ghanaian business conditions continued to lose steam due to lower output and slower growth in new orders. On the other hand, exports accelerated significantly in the second quarter amid robust global demand for gold and cocoa, the country’s top export commodities. In addition, import growth slipped in Q2 as the weak cedi and elevated inflation weighed on consumer demand for foreign goods. In mid-September, the government agreed to coordinate a price floors for cocoa farmers with neighboring Cote d’Ivoire, in an effort to better control supply in the global market. Meanwhile, on 14 September, S&P Global Ratings upgraded Ghana’s credit rating from 'B-' to 'B' citing improved monetary policy effectiveness and banking sector stability.

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

ValueChangeDate
Exchange Rate4.940.0 %Sep 24
Stock Market0.50.0 %Sep 21

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