GDP and Growth

• Provisional GDP Growth Rate for Q2 2024: 6.9% (Q2 2023 was 3.2%)
• Annual Growth of the Composite Index of Economic Activity (CIEA): 13.1% in August 2024 (14% in August 2023)

Inflation

• Consumer Price Index (CPI): The CPI for August 2024 was 229.4, reflecting a year-on-year inflation rate of 20.4% (40.1% in August 2023).
• Food Prices: The food price index for August 2024 was 249.0, with a year-on-year inflation rate of 19.1% (51.9% in August 2023).
• Non-Food Prices: The non-food price index for August 2024 was 214.3, with a year-on-year inflation rate of 21.5% (30.9% in August 2023).

Interest Rates

• Monetary Policy Rate: 27.00% in September 2024 (30.00% in August 2023).
• Interbank Weighted Average: 28.84% in August 2024 (26.59% in August 2023).
• Ghana Reference Rate: 29.31% in August 2024 (29.28% in August 2023).
• Average Lending Rate: 30.79% in August 2024 (31.78% in August 2023).
• 4-Year Bond (Post-DDEP): 27.36% in August 2024 (19.32% in August 2023).
• 15-Year Bond (Post-DDEP): 26.53% in August 2024 (15.10% in August 2023).

Foreign Exchange Rates

• USD/GHS: 15.7000 in September 2024, 24.3% depreciation year-to-date.
• GBP/GHS: 20.9368 in September 2024, 27.7% depreciation year-to-date.
• EUR/GHS: 17.4918 in September 2024, 25.0% depreciation year-to-date.
• Real Effective Exchange Rate (REER) Index: 148.5 in August 2024 (129.1 in August 2023).

External Sector Developments

• Total Exports: US$12.92 billion as at August 2024 (US$10.56 billion, August 2023).
• Gold Exports: US$7.27 billion (56.3%). (US$4.48 billion, August 2023).
• Cocoa Exports: US$917.8 million (7.1%). (US$1.60 billion, August 2023).
• Oil Exports: US$2.77 billion (21.4%). (US$2.37 billion, August 2023).
• Total Imports: US$10.14 billion. (US$8.90 billion, August 2023).
• Oil Imports: US$3.00 billion (29.6%). (US$2.90 billion, August 2023).
• Trade Surplus: US$2.78 billion (3.3% of GDP). (US$1.66 billion in August 2023).

Fiscal and Debt

• Budget Deficit: 3.9% of GDP as at July 2024 (2.8% deficit as at July 2023).
• External Debt: US$31.6 billion (GH¢470.3 billion). (US$30.0 billion in July 2023).
• Domestic Debt: GH¢290.9 billion (28.5% of GDP). (GH¢257.4 billion in July 2023).
• Total Public Debt: GH¢761.2 billion (75.7% of GDP). (GH¢587.7 billion as at July 2023).

Banking and Financial Sector

• Non-Performing Loans (NPL): 24.3% as at August 2024 (20.0%, August 2023).
• Return on Assets (Before Tax): 4.9% as at August 2024 (5.4%, August 2023).
• Active Mobile Money Accounts: 22.8 million as at August 2024 (21.6 million, August 2023).

International Reserves

• Gross International Reserves: US$7.50 billion (3.4 months of import cover) as at August 2024 (August 2023 – US$5.09 billion, 2.4 months).
• Net International Reserves: US$4.92 billion as at August 2024 (August 2023 – US$2.21 billion).
• Balance on the Petroleum Holding Funds (Stabilisation Fund & Heritage Fund): US$1.33 billion as at August 2024 (August 2023 – US$1.10 billion).

Nominal GDP

• Nominal GDP: GH¢1,020 billion as at August 2024 (GH¢841.6 billion as at August 2023).

Bank of Ghana Confidence Surveys

• Consumer Confidence Index: 87.6 in August 2024 (86.2 in August 2023).
• Business Confidence Index: 91.1 in August 2024 (80.3 in August 2023).

Capital Market Performance

• GSE Composite Index: 4359.9 as at August 2024, 39.3% year-to-date return (26.2% in August 2023).
• GSE Financial Index: 2118.1 as at August 2024,11.4% year-to-date return (-11.9% in August 2023).