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): 15% in September 2024 (12.2% in September 2023)

Inflation

• Consumer Price Index (CPI): The CPI for October 2024 was 237.8, reflecting a year-on-year inflation rate of 22.1% (194.8 in October 2023).
• Food Prices: The food price index for October 2024 was 260.2, with a year-on-year inflation rate of 22.1% (35.2% in October 2023).
• Non-Food Prices: The non-food price index for October 2024 was 220.7, with a year-on-year inflation rate of 21.5% (27.7% in October 2023).

Interest Rates

• Monetary Policy Rate: 27.00% in November 2024 (30.00% in November 2023).
• Interbank Weighted Average: 27.69% in October 2024 (28.49% in October 2023).
• Ghana Reference Rate: 28.91% in October 2024 (29.28% in October 2023).
• Average Lending Rate: 30.45% in October 2024 (32.69% in October 2023).
• 4-Year Bond (Post-DDEP): 25.89% in October 2024 (25.14% in October 2023).
• 15-Year Bond (Post-DDEP): 16.20% in October 2024 (13.98% in October 2023).

Foreign Exchange Rates

• USD/GHS: 15.3770 in November 2024, 22.7% depreciation year-to-date.
• GBP/GHS: 19.4927 in November 2024, 22.4% depreciation year-to-date.
• EUR/GHS: 16.2222 in November 2024, 19.1% depreciation year-to-date.
• Real Effective Exchange Rate (REER) Index: 156.2 in October 2024 (131.4 in October 2023).

External Sector Developments

• Total Exports: US$16.5 billion as at October 2024 (US$13.3 billion, October 2023).
• Gold Exports: US$9.58 billion (58%). (US$5.93 billion, October 2023).
• Cocoa Exports: US$1.15 billion (7%). (US$1.60 billion, October 2023).
• Oil Exports: US$3.33 billion (20%). (US$3.07 billion, October 2023).
• Total Imports: US$12.66 billion. (US$11.4 billion, October 2023).
• Oil Imports: US$3.68 billion (29.6%). (US$3.78 billion, October 2023).
• Trade Surplus: US$3.85 billion (4.6% of GDP). (US$1.92 billion in October 2023).

Fiscal and Debt

• Budget Deficit: 3.9% of GDP as at July 2024 (2.8% deficit as at July 2023).
• External Debt: US$27.9 billion (GH¢453.7 billion). (US$29.7 billion in October 2023).
• Domestic Debt: GH¢307.3 billion (30.1% of GDP). (GH¢245.6 billion in October 2023).
• Total Public Debt: GH¢761 billion (74.6% of GDP). (GH¢586 billion as at October 2023).

Banking and Financial Sector

• Non-Performing Loans (NPL): 22.7% as at October 2024 (18.3%, October 2023).
• Return on Assets (Before Tax): 5% as at October 2024 (5.5%, October 2023).
• Active Mobile Money Accounts: 23.3 million as at October 2024 (22.1 million, October 2023).

International Reserves

• Gross International Reserves: US$7.68 billion (3.5 months of import cover) as at October 2024 (October 2023 – US$5.15 billion, 2.4 months).
• Net International Reserves: US$5.17 billion as at October 2024 (October 2023 – US$2.15 billion).
• Balance on the Petroleum Holding Funds (Stabilisation Fund & Heritage Fund): US$1.33 billion as at October 2024 (October 2023 – US$1.10 billion).

Nominal GDP

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

Bank of Ghana Confidence Surveys

• Consumer Confidence Index: 86.1 in October 2024 (86.3 in October 2023).
• Business Confidence Index: 92.8 in October 2024 (80.7 in October 2023).

Capital Market Performance

• GSE Composite Index: 4385.9 as at October 2024, 40.1% year-to-date return (27.9% in October 2023).
• GSE Financial Index: 2237.5 as at October 2024,17.7% year-to-date return (-3.6% in October 2023).