GDP and Growth

• Provisional GDP Growth Rate for Q3 2024: 7.2% (Q3 2023 was 2.2%)
• Annual Growth of the Composite Index of Economic Activity (CIEA): 14.8% in November 2024 (15.2% in November 2023)

Inflation

• Consumer Price Index (CPI): The CPI for December 2024 was 248.3, reflecting a year-on-year inflation rate of 23.8% (200.5 in December 2023).
• Food Prices: The food price index for December 2024 was 277.5, with a year-on-year inflation rate of 27.8% (28.7% in December 2023).
• Non-Food Prices: The non-food price index for December 2024 was 226, with a year-on-year inflation rate of 20.3% (18.7% in December 2023).

Interest Rates

• Monetary Policy Rate: 27.00% in December 2024 (30.00% in December 2023).
• Interbank Weighted Average: 27.03% in December 2024 (30.19% in December 2023).
• Ghana Reference Rate: 28.84% in December 2024 (32.16% in December 2023).
• Average Lending Rate: 30.25% in December 2024 (33.75% in December 2023).
• 4-Year Bond (Post-DDEP): 26.90% in December 2024 (17.14% in December 2023).
• 15-Year Bond (Post-DDEP): 28.00% in December 2024 (15.29% in December 2023).

Foreign Exchange Rates

• USD/GHS: 15.0600 in January 2025, 2.4% depreciation year-to-date.
• GBP/GHS: 18.5517 in January 2025, 0.8% depreciation year-to-date.
• EUR/GHS: 15.6912 in January 2025, 3% depreciation year-to-date.
• Real Effective Exchange Rate (REER) Index: 135.3 in December 2024 (133.9 in December 2023).

External Sector Developments

• Total Exports: US$20.2 billion for 2024 (US$16.7 billion for 2023).
• Gold Exports: US$11.6 billion (58%). (US$7.6 billion for 2023).
• Cocoa Exports: US$1.7 billion (8%). (US$1.60 billion for 2023).
• Oil Exports: US$3.9 billion (19%). (US$3.8 billion for 2023).
• Total Imports: US$15.2 billion. (US$14 billion for 2023).
• Oil Imports: US$4.48 billion (22%). (US$4.48 billion for 2023).
• Trade Surplus: US$4.98 billion (5.9% of GDP). (US$2.7 billion for 2023).

Fiscal and Debt

• Budget Deficit: 3.9% of GDP as at July 2024 (2.8% deficit as at July 2023).
• External Debt: US$27.6 billion (GH¢425.3 billion, 41.7% of GDP) as at November 2024. (US$30 billion as at November 2023).
• Domestic Debt: GH¢311.7 billion (30.5% of GDP) as at November 2024. (GH¢250.7 billion as at November 2023).
• Total Public Debt: GH¢736.9 billion (72.2% of GDP) as at November 2024. (GH¢599.2 billion as at November 2023).

Banking and Financial Sector

• Non-Performing Loans (NPL): 21.8% as at December 2024 (20.6%, December 2023).
• Return on Assets (Before Tax): 5% as at December 2024 (5.4%, December 2023).
• Active Mobile Money Accounts: 23.5 million as at December 2024 (22.8 million, December 2023).

International Reserves

• Gross International Reserves: US$8.98 billion (4 months of import cover) as at December 2024 (December 2023 – US$5.9 billion, 2.7 months).
• Net International Reserves: US$6.38 billion as at December 2024 (December 2023 – US$3.13 billion).
• Balance on the Petroleum Holding Funds (Stabilisation Fund & Heritage Fund): US$1.45 billion as at December 2024 (December 2023 – US$1.24 billion).

Nominal GDP

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

Bank of Ghana Confidence Surveys

• Consumer Confidence Index: 90.2 in December 2024 (93 in December 2023).
• Business Confidence Index: 96.6 in December 2024 (90.9 in December 2023).

Capital Market Performance

• GSE Composite Index: 4888.5 as at December 2024, 56.2% year-to-date return (28.1% in December 2023).
• GSE Financial Index: 2380.8 as at December 2024, 25.2% year-to-date return (-7.4% in December 2023).