Ghana’s economy was ranked 73^rd in the world in terms of Gross Domestic Product (GDP) in the year 2019.

According to the World Bank, Ghana’s economy stood at about US$67 billion in size in 2019, making it the 8^th biggest economy on the African continent.

The country’s economy was also ranked 141^st in terms of GDP per capita and 143^rd most complex economy, according to the Bretton Wood institution’s Economic Complexity Index.

This calls for a more decisive and swift action to push the economy to a better position as there is huge disparity between the size of the economy and its per capita income.

Due to covid-19, the country’s total value of goods and services shrank to about US$63 billion dollars last year, though there are expectations that it will expand to US$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 GH¢172 billion. It is followed by industry which is about GH¢140 billion in size and agriculture which is estimated at about GH¢73.8 billion.

Globally, the United States of America is the biggest economy with a size of US$21.43 trillion.

China and Japan follow in 2^nd and 3^rd with economic sizes of about US$14 and US$5 trillion dollars respectively.

Top 10 biggest economies in Africa in 2020