Well endowed with natural resources, Ghana has
twice the per capita output of the poorer countries in West Africa.
Even so, Ghana remains heavily dependent on international financial
and technical assistance. Gold, timber, and cocoa production are major
sources of foreign exchange. The domestic economy continues to revolve
around subsistence agriculture, which accounts for 40% of GDP and
employs 60% of the work force, mainly small landholders. In 1995-97,
Ghana made mixed progress under a three-year structural adjustment
program in cooperation with the IMF. On the minus side, public sector
wage increases and regional peacekeeping commitments have led to
continued inflationary deficit financing, depreciation of the cedi,
and rising public discontent with Ghana's austerity measures. A
rebound in gold prices is likely to push growth over 5% in 2000-01.

purchasing power parity - $35.5 billion (1999 est.)

4.3% (1999 est.)

purchasing power parity - $1,900 (1999 est.)

agriculture: 40%
industry: 30%
services: 30% (1999 est.)

31.4% (1992 est.)

lowest 10%: 3.4%
highest 10%: 27.3% (1992)

12.8% (1999 est.)

4 million

agriculture 60%, industry 15%, services
25% (1999 est.)

20% (1997 est.)

revenues: $1.39 billion
expenditures: $1.47 billion, including capital expenditures of $370
million (1996 est.)

mining, lumbering, light manufacturing, aluminum smelting,
food processing

4.2% (1996 est.)

6.206 billion kWh (1998)

fossil fuel: 0.1%
hydro: 99.9%
nuclear: 0%
other: 0% (1998)

5.437 billion kWh (1998)

400 million kWh (1998)

65 million kWh (1998)

cocoa, rice, coffee, cassava (tapioca),
peanuts, corn, shea nuts, bananas; timber

$1.7 billion (f.o.b., 1999)

gold, cocoa, timber, tuna, bauxite, aluminum,
manganese ore, diamonds

Togo, UK, Italy, Netherlands, Germany, US, France
(1998)

$2.5 billion (f.o.b., 1999)

capital equipment, petroleum, foodstuffs

UK, Nigeria, US, Germany, Italy, Spain (1998)

$6 billion (1998 est.)

$477.3 million (1995)

1 new cedi (C) = 100 pesewas

new cedis per US$1 - 3,466.60 (December 1999),
2,647.32 (1999), 2,314.15 (1998), 2,050.17 (1997), 1,637.23 (1996),
1,200.43 (1995)

calendar year