Ghana External Debt: % of GDP

1999 - 2023 | Yearly | % | CEIC Data

Key information about Ghana External Debt: % of GDP

  • Ghana External Debt accounted for 39.5 % of the country's Nominal GDP in 2023, compared with the ratio of 39.1 % in the previous year.
  • Ghana External Debt: % of Nominal GDP data is updated yearly, available from Dec 1999 to Dec 2023.
  • The data reached an all-time high of 121.7 % in Dec 2000 and a record low of 7.0 % in Dec 2006.

CEIC calculates External Debt as % of Nominal GDP from annual External Debt and quarterly Nominal GDP. The Bank of Ghana provides External Debt in USD based on BPM5. Ghana Statistical Service provides Nominal GDP in local currency based on SNA 2008. The Bank of Ghana average market exchange rate is used for currency conversions. External Debt figures only include Public debt. External Debt as % of Nominal GDP prior to 2006 is calculated from Nominal GDP sourced from the World Bank.


Related information about Ghana External Debt: % of GDP

  • In the latest reports of Ghana, Current Account recorded a surplus of 998.5 USD mn in Jun 2024.
  • Foreign Direct Investment (FDI) increased by 380.3 USD mn in Mar 2024.
  • Ghana Direct Investment Abroad fell by 4.7 USD mn in Mar 2024.
  • Its Foreign Portfolio Investment fell by 308.1 USD mn in Dec 2021.
  • The country's External Debt reached 31,566.3 in Jul 2024.
  • The country's Nominal GDP was reported at 17.8 USD bn in Sep 2024.

View Ghana's External Debt: % of GDP from 1999 to 2023 in the chart:

Ghana External Debt: % of GDP

What was Ghana's External Debt: % of GDP in 2023?

Ghana External Debt accounted for 39.5 % of the country's Nominal GDP in 2023, compared with the ratio of 39.1 % in the previous year. See the table below for more data.

Last Previous Min Max Unit Frequency Range
39.5 2023 39.1 2022 7.0 2006 121.7 2000 % yearly 1999 - 2023

External Debt: % of GDP by Country Comparison

country/region Last Frequency Range
Albania (%) 45.9 2023 yearly 1991 - 2023
Algeria (%) 1.3 2023 yearly 1970 - 2023
Argentina (%) 45.3 2023 yearly 1994 - 2023
Armenia (%) 64.2 2023 yearly 2000 - 2023
Australia (%) 109.2 2023 yearly 1988 - 2023
Austria (%) 135.0 2023 yearly 1997 - 2023
Azerbaijan (%) 14.9 Dec 2021 quarterly Dec 2001 - Dec 2021
Bangladesh (%) 11.4 2017 yearly 1997 - 2017
Belarus (%) 51.1 Mar 2024 quarterly Dec 2000 - Mar 2024
Belgium (%) 231.5 2023 yearly 2007 - 2023
Bolivia (%) 35.0 2023 yearly 2006 - 2023
Bosnia and Herzegovina (%) 18.1 2023 yearly 1999 - 2023
Botswana (%) 7.3 2023 yearly 1995 - 2023
Brazil (%) 27.7 2023 yearly 1992 - 2023
Bulgaria (%) 47.6 2023 yearly 1999 - 2023
Cambodia (%) 56.7 2022 yearly 2010 - 2022
Canada (%) 139.5 2023 yearly 1990 - 2023
Chile (%) 71.7 2023 yearly 1971 - 2023
China (%) 13.7 2023 yearly 1985 - 2023
Colombia (%) 53.7 2023 yearly 1970 - 2023
Croatia (%) 73.5 2022 yearly 1998 - 2022
Cyprus (%) 828.3 2023 yearly 2004 - 2023
Czech Republic (%) 61.7 2023 yearly 1995 - 2023
Denmark (%) 132.3 2023 yearly 2005 - 2023
Ecuador (%) 49.6 2023 yearly 1970 - 2023
Egypt (%) 39.8 Mar 2024 quarterly Jun 1999 - Mar 2024
Estonia (%) 89.2 2023 yearly 1996 - 2023
European Union (%) 111.2 2023 yearly 2008 - 2023
Finland (%) 215.3 2023 yearly 1991 - 2023
France (%) 244.9 2023 yearly 2004 - 2023
Georgia (%) 80.2 2023 yearly 1999 - 2023
Germany (%) 146.1 2023 yearly 1999 - 2023
Ghana (%) 39.5 2023 yearly 1999 - 2023
Greece (%) 246.0 2023 yearly 2003 - 2023
Hong Kong SAR, China (%) 481.7 2023 yearly 2001 - 2023
Hungary (%) 128.8 2023 yearly 2006 - 2023
Iceland (%) 75.5 2023 yearly 1989 - 2023
India (%) 18.9 2023 yearly 1970 - 2023
Indonesia (%) 29.8 2023 yearly 2003 - 2023
Iran (%) 0.3 2023 yearly 1994 - 2023
Ireland (%) 556.6 2023 yearly 2002 - 2023
Israel (%) 28.4 2023 yearly 1998 - 2023
Italy (%) 129.0 2022 yearly 2002 - 2022
Ivory Coast (%) 31.4 2021 yearly 1994 - 2021
Japan (%) 107.5 2023 yearly 2003 - 2023
Jordan (%) 80.7 2023 yearly 1970 - 2023
Kazakhstan (%) 60.9 Jun 2024 quarterly Mar 2002 - Jun 2024
Kenya (%) 40.3 2023 yearly 2006 - 2023
South Korea (%) 36.6 2023 yearly 1994 - 2023
Kosovo (%) 39.6 2023 yearly 2007 - 2023
Kuwait (%) 39.4 2023 yearly 2014 - 2023
Kyrgyzstan (%) 72.3 2023 yearly 2003 - 2023
Laos (%) 74.2 2023 yearly 1996 - 2023
Latvia (%) 106.8 Sep 2024 quarterly Mar 2000 - Sep 2024
Lebanon (%) 21.2 2021 yearly 2007 - 2021
Lithuania (%) 69.2 2023 yearly 1996 - 2023
Luxembourg (%) 4,446.8 2023 yearly 2002 - 2023
North Macedonia (%) 83.2 2023 yearly 2004 - 2023
Malawi (%) 60.1 2021 yearly 2006 - 2021
Malaysia (%) 68.2 2023 yearly 2009 - 2023
Malta (%) 858.8 2023 yearly 2004 - 2023
Mauritius (%) 1,315.2 2023 yearly 2009 - 2023
Mexico (%) 33.0 2023 yearly 2002 - 2023
Moldova (%) 63.3 2023 yearly 2000 - 2023
Mongolia (%) 170.1 2023 yearly 1992 - 2023
Montenegro (%) 141.5 2022 yearly 2006 - 2022
Morocco (%) 50.9 2022 yearly 1970 - 2022
Mozambique (%) 71.7 2020 yearly 1985 - 2020
Myanmar (%) 16.7 2020 yearly 2018 - 2020
Nepal (%) 17.3 2016 yearly 2001 - 2016
Netherlands (%) 373.8 2023 yearly 2003 - 2023
New Zealand (%) 88.0 2023 yearly 1993 - 2023
Nigeria (%) 11.9 2023 yearly 1985 - 2023
Norway (%) 148.1 2023 yearly 2003 - 2023
Pakistan (%) 35.0 2024 yearly 2000 - 2024
Palestinian Territory (%) 12.2 2023 yearly 2012 - 2023
Panama (%) 167.4 2021 yearly 2014 - 2021
Paraguay (%) 55.7 2023 yearly 2000 - 2023
Peru (%) 39.3 2023 yearly 1980 - 2023
Philippines (%) 28.7 2023 yearly 1990 - 2023
Poland (%) 49.6 2023 yearly 1995 - 2023
Portugal (%) 150.4 2023 yearly 1996 - 2023
Qatar (%) 106.1 2018 yearly 2000 - 2018
Romania (%) 51.9 2023 yearly 1995 - 2023
Russia (%) 15.7 2023 yearly 1993 - 2023
Serbia (%) 65.3 2023 yearly 2000 - 2023
Singapore (%) 391.1 2023 yearly 2003 - 2023
Slovakia (%) 96.0 2023 yearly 1995 - 2023
Slovenia (%) 90.4 2023 yearly 2001 - 2023
South Africa (%) 41.5 2023 yearly 1985 - 2023
Spain (%) 163.6 2023 yearly 1995 - 2023
Sri Lanka (%) 75.0 2022 yearly 1998 - 2022
Sudan (%) 202.2 2021 yearly 2001 - 2021
Sweden (%) 169.1 2023 yearly 1997 - 2023
Switzerland (%) 236.4 2023 yearly 1999 - 2023
Taiwan (%) 27.3 2023 yearly 1999 - 2023
Tajikistan (%) 37.7 2021 yearly 2000 - 2021
Thailand (%) 37.4 Jun 2024 quarterly Mar 2005 - Jun 2024
Tunisia (%) 90.4 2023 yearly 2002 - 2023
Turkey (%) 45.2 2023 yearly 1989 - 2023

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Ghana Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -3.5 Jun 2024 quarterly Dec 2008 - Jun 2024
Consolidated Fiscal Balance (USD mn) -305.529 Jun 2024 monthly Jan 2008 - Jun 2024
Tax Revenue (USD mn) 776.284 Jun 2024 monthly Jan 2008 - Jun 2024
Tax Revenue: % of GDP (%) 13.9 Jun 2022 quarterly Mar 2008 - Jun 2022
Government Debt: % of GDP (%) 72.3 2023 yearly 2006 - 2023
Forecast: Government Expenditure (GHS bn) 408.854 2029 yearly 1980 - 2029
Forecast: Government Net Debt (GHS bn) 1,296.452 2029 yearly 1990 - 2029
Forecast: Government Revenue (GHS bn) 349.498 2029 yearly 1982 - 2029
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 4.394 2028 yearly 1980 - 2028
Trade Balance (USD mn) 542.1 Oct 2024 monthly Mar 2005 - Oct 2024
Total Exports (USD mn) 1,842.1 Oct 2024 monthly Jan 2010 - Oct 2024
Total Exports Growth (%) 19.0 Oct 2024 monthly Jan 2011 - Oct 2024
Aluminum: Exports (USD th) 103,616.725 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 11,448.519 2023 yearly 1995 - 2023
Exports: Medicinal and Pharmaceutical Product (USD th) 382.361 2023 yearly 1995 - 2023
Total Imports (USD mn) 1,300.0 Oct 2024 monthly Mar 2005 - Oct 2024
Total Imports Growth (%) 2.3 Oct 2024 monthly Mar 2006 - Oct 2024
Imports: Medicament (USD th) 158,976.676 2023 yearly 1995 - 2023
Imports: Medicinal and Pharmaceutical Product (USD th) 83,941.840 2023 yearly 1995 - 2023
Total Exports to USA (USD mn) 57.461 Aug 2024 monthly Feb 1985 - Aug 2024
Total Imports from USA (USD mn) 73.849 Aug 2024 monthly Jun 1995 - Aug 2024
Total Exports to China (USD mn) 183.887 Aug 2024 monthly May 1995 - Aug 2024
Total Imports from China (USD mn) 292.234 Aug 2024 monthly Jun 1986 - Aug 2024
Export Volume Index (2015=100) 97.296 2021 yearly 1980 - 2021
Export Value Index (2015=100) 142.693 2021 yearly 1980 - 2021
Import Volume Index (2015=100) 84.815 2021 yearly 1980 - 2021
Import Value Index (2015=100) 101.215 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -4.7 Mar 2024 quarterly Mar 2011 - Mar 2024
Current Account Balance (USD mn) 998.5 Jun 2024 quarterly Mar 2005 - Jun 2024
Current Account Balance: % of GDP (%) 5.6 Jun 2024 quarterly Mar 2006 - Jun 2024
Foreign Direct Investment (USD mn) 380.3 Mar 2024 quarterly Mar 2011 - Mar 2024
Foreign Direct Investment: % of GDP (%) 1.8 Mar 2024 quarterly Mar 2011 - Mar 2024
Foreign Portfolio Investment (USD mn) -308.059 Dec 2021 quarterly Mar 2011 - Dec 2021
Foreign Portfolio Investment: % of GDP (%) 0.0 Mar 2024 quarterly Mar 2011 - Mar 2024
Foreign Portfolio Investment: Equity Securities (USD mn) -9.3 2023 yearly 1975 - 2023
Foreign Portfolio Investment: Debt Securities (USD mn) 13.739 Mar 2024 quarterly Mar 2011 - Mar 2024
External Debt (USD mn) 27,908.7 Oct 2024 monthly Jan 2012 - Oct 2024
External Debt: % of GDP (%) 39.5 2023 yearly 1999 - 2023
Forecast: Current Account Balance (USD bn) -2.128 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) -23,941.736 2023 yearly 2006 - 2023
BoP: Financial Account: Financial Derivatives & Employee Stock Options: Liabilit... (USD mn) 111.654 Mar 2024 quarterly Mar 2021 - Mar 2024
BoP: Financial Account: Portfolio Investment: Assets (USD mn) -63.908 Mar 2024 quarterly Mar 2021 - Mar 2024
BoP: Financial Account: Financial Derivatives & Employee Stock Options (USD mn) 26.798 Mar 2024 quarterly Mar 2021 - Mar 2024
BoP: Financial Account: Financial Derivatives & Employee Stock Options: Assets (USD mn) 138.453 Mar 2024 quarterly Mar 2021 - Mar 2024
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 24.3 Aug 2024 monthly Dec 2005 - Aug 2024
Non-Performing Loans (USD mn) 1,397.674 Jun 2024 quarterly Mar 2008 - Jun 2024
Money Supply M1 (USD mn) 9,768.702 Sep 2024 quarterly Mar 1990 - Sep 2024
Money Supply M2 (USD mn) 14,509.715 Sep 2024 quarterly Mar 1990 - Sep 2024
M2 Growth (%) 44.5 Sep 2024 quarterly Mar 1991 - Sep 2024
Foreign Exchange Reserves (USD mn) 3,368.9 Jan 2024 monthly Jan 1965 - Jan 2024
Foreign Exchange Reserves: % of GDP (%) 3.820 Dec 2023 quarterly Dec 2006 - Dec 2023
Foreign Exchange Reserves: Months of Import (NA) 2.4 Jan 2024 monthly Mar 2005 - Jan 2024
Gold Reserves (Metric Ton) 1,000.000 2023 yearly 2008 - 2023
Total Deposits (USD mn) 16,798.963 Oct 2024 monthly Jan 1999 - Oct 2024
Total Deposits Growth (%) 38.9 Oct 2024 monthly Jan 2000 - Oct 2024
Domestic Credit (USD mn) 17,262.9 Jul 2024 monthly Jan 1967 - Jul 2024
Domestic Credit Growth (%) -3.5 Jul 2024 monthly Jan 1968 - Jul 2024
Total Loans (USD mn) 5,796.138 Oct 2024 monthly Jan 1999 - Oct 2024
Total Loans Growth (%) 28.50 Oct 2024 monthly Jan 2000 - Oct 2024
Private Debt: % of Nominal GDP (%) 9.91 Jun 2024 quarterly Dec 2013 - Jun 2024
Business and Economic Survey Last Frequency Range
Business Confidence Growth (%) 14.4 Aug 2024 monthly Dec 2013 - Aug 2024

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