Key information about Ghana External Debt: % of GDP

• Ghana External Debt accounted for 37.4 % of the country's Nominal GDP in 2023, compared with the ratio of 39.1 % in the previous year.
• Ghana External Debt: % of Nominal GDP data is updated yearly, available from Dec 1999 to Dec 2023.
• The data reached an all-time high of 121.7 % in Dec 2000 and a record low of 7.0 % in Dec 2006.

CEIC calculates External Debt as % of Nominal GDP from annual External Debt and quarterly Nominal GDP. The Bank of Ghana provides External Debt in USD based on BPM5. Ghana Statistical Service provides Nominal GDP in local currency based on SNA 2008. The Bank of Ghana average market exchange rate is used for currency conversions. External Debt figures only include Public debt. External Debt as % of Nominal GDP prior to 2006 is calculated from Nominal GDP sourced from the World Bank.


Related information about Ghana External Debt: % of GDP

• In the latest reports of Ghana, Current Account recorded a surplus of 1.4 USD bn in Dec 2024.
• Foreign Direct Investment (FDI) increased by 380.3 USD mn in Mar 2024.
• Ghana Direct Investment Abroad fell by 4.7 USD mn in Mar 2024.
• Its Foreign Portfolio Investment fell by 308.1 USD mn in Dec 2021.
• The country's External Debt reached 27,908.7 in Oct 2024.
• The country's Nominal GDP was reported at 21.2 USD bn in Dec 2024.

Depicted is the ratio of national debt to gross domestic product (GDP) of Nigeria which lies at approximately 52.52 percent in 2025.Fluctuating decline between 1990 and 2025A comparison to the earliest shown observation from 1990 reveals a total decrease by approximately 19.16 percentage points. The trajectory from 1990 to 2025 shows however that this decrease did not happen continuously.Continuous decline between 2025 and 2030In 2030 the ratio will lie at roughly 45.39 percent, according to forecasts. This indicates an overall decrease by approximately 7.13 percentage points since 2025. This decrease reflects a consistent falling trend.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Ghana: Government debt as percent of GDP: The latest value from 2023 is 82.94 percent, a decline from 92.69 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for Ghana from 1990 to 2023 is 47.77 percent. The minimum value, 18.51 percent, was reached in 2006 while the maximum of 92.69 percent was recorded in 2022.

Key information about Ghana Private Debt: % of Nominal GDP

• Ghana Private Debt accounted for 8.26 % of its Nominal GDP in Sep 2024, compared with a ratio of 9.19 % in the previous quarter
• Ghana Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Dec 2006 to Sep 2024, with an average share of 12.48 %
• The data reached an all-time high of 17.38 % in Jun 2015 and a record low of 7.27 % in Dec 2006

CEIC calculates quarterly Private Debt as % of Nominal GDP from quarterly Private Debt and quarterly Nominal GDP. The International Monetary Fund provides Private Debt in local currency. Ghana Statistical Service provides Nominal GDP in local currency.

Outstanding international public debt securities to GDP (%) in Ghana was reported at 22.98 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Ghana - Outstanding international public debt securities to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

The ratio of national debt to gross domestic product (GDP) of Burkina Faso stands at approximately 50.16 percent in 2025.Fluctuating rise between 2002 and 2025A comparison to the earliest shown observation from 2002 reveals a total increase by approximately 6.87 percentage points. The trajectory from 2002 to 2025 shows however that this increase did not happen continuously.Fluctuating decline between 2025 and 2030The ratio will amount to around 48.17 percent in 2030, according to forecasts. There is an overall decrease by approximately 1.99 percentage points since 2025.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

The ratio of national debt to gross domestic product (GDP) of Benin lies at approximately 52.55 percent in 2025.Fluctuating decline between 1998 and 2025A total decrease by approximately 1.02 percentage points can be observed between 1998 and 2025. The data emphasizes however that this decrease did not happen continuously.Continuous decline between 2025 and 2030In 2030 the ratio will lie at close to 46.92 percent, according to forecasts. Compared to 2025 that is an overall decrease by approximately 5.63 percentage points. This decrease reflects a consistent falling trend.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

In 2021, the inflation rate in Ghana amounted to about 9.98 percent compared to the previous year. Ghana’s inflation peaked at almost 17.5 percent in 2016 and is predicted to decrease to 8 percent by 2030. Steady is best for inflationAccording to economists, a steady inflation rate between two and three percent is desirable to achieve a stable economy in a country. Inflation is the increase in the price level of consumer goods and services over a certain time period. A high inflation rate is often caused by excessive money supply and can turn into hyperinflation, i.e. if inflation occurs too quickly and rapidly, it can devalue currency and cause a recession and even economic collapse. This scenario is currently taking place in Venezuela , for example. The opposite of inflation, the decrease in the price level of goods and services below zero percent, is called deflation. While hyperinflation devalues money, deflation usually increases its value. Both events can damage an economy severely. Is Ghana’s economy at risk?Ghana’s economy is considered quite stable and fast-growing, and is rich in oil, diamonds, and gold. After struggling in the years around 2015 due to increased government spending and plummeting oil prices, it is now on an upswing again. This is also reflected in the decreasing inflation rate, and other key indicators like unemployment and rapid GDP growth support this theory. However, Ghana’s government debt is still struggling with the consequences of the 2015 crisis and forecast to keep skyrocketing during the next few years.

As shown in this statistic, the annual average consumer price index in Ghana amounts to approximately ****** points in 2025.Continuous rise between 1980 and 2025A comparison to the earliest shown observation from 1980 reveals a total increase by approximately ****** points. The trajectory from 1980 to 2025 shows furthermore that this increase happened continuously.Continuous rise between 2025 and 2030In 2030 the index will lie at around ************* points, according to forecasts. There is an overall increase by approximately ****** points since 2025. This growth reflects a steady upward trend.As defined by the International Monetary Fund, this indicator measures inflation on the basis of the average consumer price index. This index measure expresses a country's average level of prices based on a typical basket of consumer goods and services during a certain year. Typically a reference year exists for which a value of 100 had been assigned.