Ghana’s GDP per capita has grown nearly tenfold since 2000, despite years of economic volatility

Key Takeaways

  • Between 2000 and 2008, Ghana’s GDP per capita rose from $253.7 to $1,182.7, more than quadrupling in just nine years.
  • It peaked in 2013 at $2,294.8 but declined sharply after 2014.
  • After a dip in 2022, it rebounded to $2,405.8 in 2024, nearly 10 times higher than the figure in 2000.
  • The declines seen in 2009, 2015, and 2022 mirror global and local crises, including the 2008 financial crash, commodity shocks, and post-COVID disruptions.

From just $253.7 in 2000, Ghana’s GDP per capita has expanded nearly tenfold, reaching $2,405.8 by 2024, a testament to sustained long-term growth. Key milestones include a strong surge during the mid-2000s oil discovery era and a record peak in 2013 at over $2,294, before external shocks and fiscal pressures caused downturns in 2014–2016 and 2022. Yet, despite periods of volatility, Ghana’s overall trajectory reflects a resilient and steadily maturing economy, with increasing income levels over time.

Source:

World bank

Period:

2000 - 2024
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