Latest Economic Figures for Ghana – May 2023

  1. Provisional GDP growth rate for 2022 is 3.1%.
  2. Inflation (year-on-year) as at April 2023 was 41.2%.
  3. Monetary policy rate is 29.5%.
  4. Interbank lending rate was 25.89% as at April 2023.
  5. Average lending rate was 31.66% as at April 2023.
  6. Total Exports as at April 2023 was US$5.65 billion. Gold Exports US$2.17 billion (38%). Cocoa Exports US$1.25 billion (22%). Oil Exports US$1.05 billion (21%).
  7. Total Imports as at April 2023 was US$4.05 billion. Oil imports was US$1.2 billion 30%).
  8. Trade surplus as at April 2023 was US$1.6 billion (2.2% of GDP).
  9. Current account surplus as at March 2023 was US$661.4 million (0.9% of GDP).
  10. Overall Balance of Payments deficit as at March 2023 was US$354 million (0.5% of GDP).
  11. Budget deficit as at March 2023 was 0.8% of GDP.
  12. External debt as at December 2022 was US$28.9 billion (GH¢240.2bn) (39.4% of GDP).
  13. Domestic debt as at December 2022 was GH¢194.4 billion (31.9% of GDP).
  14. Total Public debt as at December 2022 was GH¢434.6 billion (71.2% of GDP).
  15. Non-Performing loans (of banks) as at April 2023 was 18%.
  16. Active mobile money accounts were 21.1 million as at April 2023.
  17. Market capitalisation of the GSE was GH¢68.3 billion as at April 2023.
  18. Gross International reserves are US$5.22 billion as at April 2023 (2.4 months of import cover).
  19. Net International reserves are US$2.21 billion as at April 2023.
  20. Balance on the Petroleum Holding Funds (Stabilisation Fund & Heritage Fund) is $1.08 billion as at April 2023.
  21. Nominal GDP is GH¢873.1 billion.

Data Sources: Bank of Ghana, GSE, GSS

2 comments

  1. Hello Jerome, the three months data for the current accounts reveal a
    ‘surplus’ not a deficit. Kindly check that again. Thank you.

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