Overview: In 2018 Ghana was the number 73 economy in the world in terms of GDP (current US$), the number 71 in total exports, the number 84 in total imports, and the number 125 most complex economy according to the Economic Complexity Index (ECI). In 2018, Ghana exported $20.5B and imported $14.9B, resulting in a positive trade balance of $5.64B. In 2018, Ghana's exports per capita were $689 and its imports per capita were $499.
In 2018 Ghana exported a total of $20.5B, making it the number 71 exporter in the world. During the last five reported years the exports of Ghana have changed by $3.2B from $17.3B in 2013 to $20.5B in 2018.
In 2018 Ghana imported $14.9B, making it the number 84 trade destination in the world. During the last five reported years the imports of Ghana changed by -$1.42B from $16.3B in 2013 to $14.9B in 2018.
In 2014, Ghana exported $2.04B worth of services. The top services exported by Ghana in 2014 were Business travel ($628M), Other business services ($430M), Sea transport ($429M), Personal travel ($269M), and Air transport ($181M).
The top services imported by Ghana in 2014 were Other business services ($1.64B), Sea transport ($934M), Government services, n.i.e. ($814M), Air transport ($661M), and Business travel ($321M).
This section shows forecasts for total product exports and imports for Ghana. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Ghana are:136: Most Favoured Nation duty rate treatement204: Preferential tariff for Economic Community of West African States (ECOWAS)
During the last 20 years Ghana's economy has become relatively less complex, moving from the 93rd to the 125th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
The top export opportunities for Ghana according to the relatedness index, are Coconut Oil (0.11), Crustaceans (0.11), Raw Cotton (0.11), Petroleum Gas (0.1), and Tin Ores (0.1). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Ghana is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Ghana
