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Economy of Ghana

Ghana, officially the Republic of Ghana, is a unitary presidential constitutional republic that lies among the Gulf of Guinea and Atlantic Ocean. Ghana is linked with Ivory Coast in the west region and connected to the Burkina Faso in north. Accra is the capital of the country whereas Kumasi is the largest city. The estimated GDP of Ghana in terms of purchasing power parity (PPP) was $90.41 billion as per the calculation of 2013. Ghana is somewhat wealthy nation in terms of having rich natural resources and a plethora of industrial minerals that are helping the nation to emerge strongly in the economic world. Over the course of last few years, the economy of Ghana has improved to a significant extent courtesy of the sound economic management systems implemented by the nation. Ghana has a calendar year system for their annual fiscal plans. Some of the notable industrial sectors of Ghana include mining, aluminum smelting, food processing, cement, small commercial ship building and petroleum. The main sources of foreign exchange of the nation consist of gold, cocoa production and the remittances of overseas citizens.

Imports of Ghana

The estimated imports of Ghana were $18.49 billion in the year 2013 that was 80th largest when compared to the countries of rest of the world. The imports commodities of Ghana include capital equipment, refined petroleum and foodstuffs. China has been the major import partner of Ghana for a long period of time, whereas other notable partners include Nigeria, Netherlands, Singapore, United Kingdom and India.

Exports of Ghana

Being a wealthy nation in terms of having rich natural resources, Ghana exports decent amount of commodities like oil, cocoa, timber, tuna, manganese ore, diamonds, agricultural products. The major export partners of Ghana include France, Italy, Netherlands, China and Germany.

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Capital
Accra
Dialing Code
+233
Fiscal Year
Calendar Year
Currency
Ghanaian Cedi
GDP
$34,200,000,000
Exports
$13.13 billion (2011 est.) | Gold, Cocoa, Timber, Tuna, Bauxite, Aluminum, Manganese Ore, Diamonds, Horticulture
Imports
$14.03 billion (2011 est.) | Capital Equipment, Petroleum, Foodstuffs
Industries
Mining, Lumbering, Light Manufacturing, Aluminum Smelting, Food Processing, Cement, Small Commercial Ship Building