The 2004 CIA World Factbook. United States. Central Intelligence Agency
IOC, IOM (observer), ISO, ITU, MIGA, MINURSO, MONUC, NAM, OAS
(observer), ONUB, OPCW, UN, UNAMSIL, UNCTAD, UNESCO, UNIDO, UNIFIL,
UNITAR, UNMEE, UNMIK, UNMIL, UNOCI, UPU, WCL, WCO, WFTU, WHO, WIPO,
WMO, WToO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Alan J. KYEREMATEN
consulate(s) general: New York
FAX: [1] (202) 686–4527
telephone: [1] (202) 686–4520
chancery: 3512 International Drive NW, Washington, DC 20008
Diplomatic representation from the US:
chief of mission: Ambassador Mary Carlin YATES
embassy: 6th and 10th Lanes, 798/1 Osu, Accra
mailing address: P. O. Box 194, Accra
telephone: [233] (21) 775–347, 775–348
FAX: [233] (21) 701–813
Flag description:
three equal horizontal bands of red (top), yellow, and green with a
large black five-pointed star centered in the yellow band; uses the
popular pan-African colors of Ethiopia; similar to the flag of
Bolivia, which has a coat of arms centered in the yellow band
Economy Ghana
Economy - overview:
Well endowed with natural resources, Ghana has roughly 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 35% of
GDP and employs 60% of the work force, mainly small landholders.
Ghana opted for debt relief under the Heavily Indebted Poor Country
(HIPC) program in 2002. Policy priorities include tighter monetary
and fiscal policies, accelerated privatization, and improvement of
social services. Receipts from the gold sector should help sustain
GDP growth in 2004. Inflation should ease, but remain a major
internal problem.
GDP:
purchasing power parity - $44.44 billion (2003 est.)
GDP - real growth rate:
4.7% (2003 est.)
GDP - per capita:
purchasing power parity - $2,200 (2003 est.)
GDP - composition by sector: agriculture: 35.4% industry: 25.4% services: 39.2% (2003 est.)
Investment (gross fixed):
24.5% of GDP (2003)
Population below poverty line:
31.4% (1992 est.)
Household income or consumption by percentage share: lowest 10%: 2.2% highest 10%: 30.1% (1999)
Distribution of family income - Gini index:
40.7 (1999)
Inflation rate (consumer prices):
26.7% (2003 est.)
Labor force:
10 million (2003 est.)
Labor force - by occupation:
agriculture 60%, industry 15%, services 25% (1999 est.)
Unemployment rate:
20% (1997 est.)
Budget:
revenues: $1.943 billion
expenditures: $2.192 billion, including capital expenditures of NA
(2003 est.)
Agriculture - products:
cocoa, rice, coffee, cassava (tapioca), peanuts, corn, shea nuts,
bananas; timber
Industries:
mining, lumbering, light manufacturing, aluminum smelting, food
processing
Industrial production growth rate:
3.8% (2000 est.)
Electricity - production:
8.801 billion kWh (2001)
Electricity - consumption:
8.835 billion kWh (2001)
Electricity - exports:
300 million kWh (2001)
Electricity - imports:
950 million kWh (2001)
Oil - production:
7,000 bbl/day (2001 est.)
Oil - consumption:
38,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Oil - proved reserves:
8.255 million bbl (1 January 2002)
Natural gas - proved reserves:
11.89 billion cu m (1 January 2002)
Current account balance:
$110 million (2003)
Exports:
$2.642 billion f.o.b. (2003 est.)
Exports - commodities:
gold, cocoa, timber, tuna, bauxite, aluminum, manganese ore,
diamonds
Exports - partners:
Netherlands 11.2%, UK 10.7%, France 7.7%, Germany 6.2%, Japan 5.2%,
Italy 4.6%, Turkey 4.4%, US 4.3% (2003)
Imports:
$3.24 billion f.o.b. (2003 est.)
Imports - commodities:
capital equipment, petroleum, foodstuffs
Imports - partners:
Nigeria 13.2%, China 9.3%, UK 7.2%, US 6.1%, Germany 4.8%, France
4.5%, South Africa 4% (2003)
Reserves of foreign exchange & gold:
$1.469 billion (2003)
Debt - external:
$7.398 billion (2003 est.)
Economic aid - recipient:
$6.9 billion (1999)
Currency:
cedi (GHC)
Currency code:
GHC
Exchange rates:
cedis per US dollar - NA (2003), 7,932.7 (2002), 7,170.76 (2001),
5,455.06 (2000), 2,669.3 (1999)
Fiscal year:
calendar year
Communications Ghana
Telephones - main lines in use:
302,300 (2003)
Telephones - mobile cellular:
799,900 (2003)
Telephone