Ghana’s economy expands to $114bn, now 8th largest in Africa- Mahama
President John Dramani Mahama has announced that Ghana’s economy has expanded significantly, growing from about $80 billion to $114 billion within a little over a year, making the country the eighth largest economy in Africa.
Speaking during the #ResettingGhana Tour Citizens’ Engagement in the Savannah Region, President Mahama said the country’s economic growth reflects improving performance across multiple sectors.
According to him, Ghana ranked as the 11th largest economy on the continent when his administration took office, but recent economic gains have pushed the country three places higher.
“The economy is expanding at a fast rate. At the time we took over, the total gross domestic product, the size of our economy, was just about $80 billion. Within one year and a few months, we have increased that size of the economy to $114 billion,” he stated.
President Mahama also highlighted growth in the non-traditional export sector, noting that export values increased from $3.83 billion to more than $5 billion within the same period.
He explained that the increase represents a 30.7 percent growth in non-traditional exports, which he described as evidence that the economy is performing strongly.
“You can see it in all the sectors. If you take non-traditional exports, at the time we came into office, the total value was $3.83 billion. In just a bit above one year, we have moved it to above $5 billion,” he said.
The President added that the economic expansion would enable government to invest more in people-centered development and create more jobs for Ghanaians.
