The 2024 Annual Progress Report (APR) released by the National Development Planning Commission (NDPC) says Ghana’s economy showed renewed strength and resilience in 2024, marking a firm rebound from the shocks of the COVID-19 pandemic.
The report indicated that Ghana’s external sector position improved significantly, with the trade surplus soaring to US$4.98 billion, representing 5.9% of GDP, compared to US$2.69 billion in 2023.
The surge was mainly driven by a 21.1% increase in total exports, led by a sharp 53.2% rise in gold exports, which reached US$11.64 billion.
Presenting the findings, Mr. Isaac Kwesi Eweh, Chief Analyst at the Monitoring and Evaluation Division of the NDPC, said oil exports also edged up slightly to US$3.87 billion, while total imports rose 8.8% to US$15.24 billion.
Despite these gains, Mr. Eweh cautioned that Ghana’s economic structure remains vulnerable due to its continued dependence on a narrow range of commodities.
Unveiling the report, Dr. Nii Moi Thompson, Chairman of the NDPC and Presidential Advisor on Sustainable Development Goals (SDGs), described the APR as the “most comprehensive and credible assessment” of government performance and development progress.
He urged journalists and policy analysts to rely on the APR as a factual benchmark rather than political manifestos when assessing national progress.
“The NDPC plays a crucial role in monitoring, evaluating, and coordinating development policies. The media’s role is vital in translating data into advocacy and correcting misinformation,” Dr. Thompson said, emphasizing the Commission’s dedication to inclusive and evidence-based national development.
The 2024 APR assesses the implementation of Ghana’s Agenda for Jobs II (2022–2025): Creating Prosperity and Equal Opportunities for All, which aims to build a confident, self-reliant, and prosperous nation through sustainable use of human and natural resources.
Dr. Audrey Smock Amoah, Director-General of the NDPC, said the report provided an extensive review of Ghana’s progress across six dimensions of development, economic, social, environmental, infrastructure and human settlements, governance, and public accountability.
She added that it also captured key lessons from emergency planning, COVID-19 responses, and policy coordination efforts.
The 2024 APR will be published on the NDPC website and distributed to the Office of the President, Parliament, Ministries, Departments and Agencies (MDAs), as well as Regional Coordinating Councils and Metropolitan, Municipal, and District Assemblies (MMDAs) to guide evidence-based decision-making.
