Ghana GDP Trends from 1980 to 2024: A overall increase with some decline Flow

Ghana's GDP changed from approximately $37B 350M in 1980 to $75B 244M in 2024, showing an overall 101.5% sharply increased during the period.
The lowest GDP was recorded in 2000 at $11B 470M, and the highest in 2021 at $79B 599M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 1.6%.
For comparison, the average annual growth rate of Nigeria was 4.2%, and that of Ivory Coast was 4.3%.

Overview of Ghana's GDP (1980–2024)

The Gross Domestic Product (GDP) of Ghana recorded a 101.5% sharply increased from 1980 to 2024.
The average GDP during this period was $36B 373M, and the median was $28B 883M.
GDP fluctuated within a range of $68B 129M, with a standard deviation of $23B 452M.
The average annual change was $1B 160M.


Ghana GDP from 1980 to 2024

The total market value of goods and services produced annually in Ghana.

Change Chart

    Highest and Lowest GDP Records

    • Lowest GDP: 2000, $11B 470M
    • Highest GDP: 2021, $79B 599M
    • Most Recent GDP: 2024, $75B 244M

    Notable Annual GDP Changes

    • 1981: Significant increase in GDP
    • 1984: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Ghana's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $68B 352M → $70B 8M
    • Outcome: increased

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $34B 43M → $34B 601M
    • Outcome: increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $11B 470M → $12B 234M
    • Outcome: increased

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $15B 794M → $17B 166M
    • Outcome: increased

    Key Economic Indicators of Ghana (1980–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 37B 350M
    $ 3,489.50
    $ 1,201.34
    $ 12B 859M
    0.453 %
    -0.144 %
    0 %
    -4.193 %
    10M 704K people
    1981
    $ 60B 694M
    $ 5,537.47
    $ 1,235.96
    $ 13B 547M
    -3.754 %
    -0.837 %
    0 %
    -3.238 %
    10M 961K people
    1982
    $ 70B 406M
    $ 6,271.52
    $ 1,174.89
    $ 13B 190M
    -8.303 %
    -0.269 %
    0 %
    -1.029 %
    11M 226K people
    1983
    $ 47B 317M
    $ 4,114.25
    $ 1,117.61
    $ 12B 853M
    -6.222 %
    -0.327 %
    4.09 %
    -0.654 %
    11M 501K people
    1984
    $ 17B 113M
    $ 1,391.72
    $ 1,184.61
    $ 14B 566M
    9.378 %
    -0.428 %
    6.40 %
    -0.47 %
    12M 296K people
    1985
    $ 15B 255M
    $ 1,213.39
    $ 1,272.16
    $ 15B 993M
    6.433 %
    -0.994 %
    9.04 %
    -0.632 %
    12M 572K people
    1986
    $ 14B 72M
    $ 1,094.39
    $ 1,347.36
    $ 17B 325M
    6.189 %
    -0.599 %
    9.51 %
    -0.448 %
    12M 859K people
    1987
    $ 11B 777M
    $ 895.18
    $ 1,439.47
    $ 18B 937M
    6.66 %
    -0.819 %
    13.29 %
    -0.412 %
    13M 155K people
    1988
    $ 12B 523M
    $ 930.23
    $ 1,550.46
    $ 20B 873M
    6.468 %
    -0.571 %
    14.91 %
    -0.693 %
    13M 462K people
    1989
    $ 12B 733M
    $ 924.07
    $ 1,645.70
    $ 22B 676M
    4.541 %
    -0.612 %
    16.33 %
    -0.33 %
    13M 779K people
    1990
    $ 14B 749M
    $ 1,045.60
    $ 1,727.67
    $ 24B 371M
    3.595 %
    -1.095 %
    29.45 %
    -1.507 %
    14M 106K people
    1991
    $ 16B 506M
    $ 1,142.80
    $ 1,827.68
    $ 26B 398M
    4.774 %
    -1.476 %
    25.23 %
    -0.882 %
    14M 443K people
    1992
    $ 16B 312M
    $ 1,102.84
    $ 1,907.02
    $ 28B 207M
    4.473 %
    -2.251 %
    23.09 %
    -4.018 %
    14M 791K people
    1993
    $ 13B 348M
    $ 881.08
    $ 1,996.95
    $ 30B 254M
    4.772 %
    -4.12 %
    21.80 %
    -4.31 %
    15M 150K people
    1994
    $ 12B 320M
    $ 793.80
    $ 2,060.78
    $ 31B 984M
    3.508 %
    -2.065 %
    23.57 %
    -3.487 %
    15M 520K people
    1995
    $ 14B 610M
    $ 918.74
    $ 2,140.34
    $ 34B 36M
    4.233 %
    -0.986 %
    23.28 %
    -2.979 %
    15M 902K people
    1996
    $ 15B 482M
    $ 950.01
    $ 2,228.14
    $ 36B 311M
    4.765 %
    -1.982 %
    20.45 %
    -3.741 %
    16M 297K people
    1997
    $ 15B 794M
    $ 945.58
    $ 2,339.62
    $ 39B 79M
    5.797 %
    -2.564 %
    23.02 %
    -3.883 %
    16M 703K people
    1998
    $ 17B 166M
    $ 1,002.60
    $ 2,423.78
    $ 41B 498M
    5.01 %
    -3.039 %
    21.80 %
    -2.656 %
    17M 121K people
    1999
    $ 17B 766M
    $ 1,012.28
    $ 2,506.58
    $ 43B 991M
    4.529 %
    -5.43 %
    2.37 %
    -3.661 %
    17M 550K people