If Ghana’s economy were shared equally among its population, each person would be worth GH¢35,632, representing the per capita income—calculated by dividing the national income by the population. This is an increase from GH¢28,317 in the previous year, indicating a significant improvement in nominal terms, although it has declined in dollar terms.
According to data from the Ghana Statistical Service (GSS), Ghana’s per capita income has grown steadily from GH¢11,755 in 2019 to the current figure. The size of the Ghanaian economy stood at US$76.37 billion, or approximately GH¢1.17 trillion, by the end of 2024.
Breaking down the economy’s composition, GH¢1.098 trillion came from the oil Gross Domestic Product (GDP), with an additional GH¢77.80 billion from net indirect taxes. The Services sector made up the largest share of the economy, contributing GH¢515.85 billion. Industry followed with GH¢338.8 billion, and Agriculture contributed GH¢243.74 billion.
In 2024, Ghana’s economy grew by 5.7%, a considerable improvement from the revised 3.1% growth rate recorded in 2023. The Industry sector experienced the highest growth rate at 7.1%, with the Construction sub-sector expanding by 9.6% and Mining and Quarrying by 9.4%. The Manufacturing sub-sector also posted growth, rising by 3.9%.
Meanwhile, the Services sector achieved a 5.9% year-on-year growth rate, further demonstrating Ghana’s steady economic expansion in key areas.
