- April 26, 2021
- Posted by: Ato
- Category: Economics
Ghana has been ranked the 73rd largest economy by the World Bank.
The ranking is with respect to the country’s Gross Domestic Product (GDP) in 2019.
According to the World Bank, Ghana’s economy stood at about $67 billion in size in 2019, making it the 8th biggest economy on the African continent.
The country’s economy was also ranked 141st globally in terms of per capita GDP and as the 143rd most complex economy, according to the multilateral institution’s Economic Complexity Index.
Due to covid-19, the country’s total value of goods and services shrank to about $63 billion dollars last year, though there are expectations that it will expand to $70 billion by the end of the year.
The economy is expected to grow at a rate of 4.6% this year; and that will be driven by sub sectors such as Information and Communication, Real Estate, Crops and Livestock.
Presently, the services sector is the biggest with an estimated size of a little above Ghs 172 billion. It is followed by industry which is about Ghs 140 billion in size and agriculture which is estimated at about Ghs 73.8 billion.
Globally, the United States of America is the biggest economy with a size of $21.43 trillion.
China and Japan follow in 2nd and 3rd places with economic sizes of about $14 and $5 trillion dollars respectively.
Top 10 biggest economies in the world in 2020
|Country||Nominal GDP (US$)||Per Capita Income (US$)|
|United Kingdom||2.83 trillion||42,300|