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Ghana: Structure of the Economy
Country Study > Chapter 3 > The Economy > Structure of the Economy

STRUCTURE OF THE ECONOMY


Most government efforts to restore the productivity of the Ghanaian economy have been directed toward boosting the country's exports. These policies, however, have had numerous consequences. Following the initiation of the ERP in 1983 and the devastating drought of 1983, Ghana's GDP has registered steady growth, most of it attributable to the export sector, including cocoa and minerals and, to some extent, timber processing. The cost of this growth is apparent, however, in Ghana's growing external debts, which have financed rehabilitation of the export sector, and in the country's steady rate of inflation that has curbed consumer imports. The government has tried with limited success to avoid some of the country's historical pitfalls by broadening the range of both exports and trading partners. Nevertheless, prices for the goods that most Ghanaians purchase have been rising faster than the wages they receive for their work.

Data as of November 1994




Last Updated: November 1994


Editor's Note: Country Studies included here were published between 1988 and 1998. The Country study for Ghana was first published in 1994. Where available, the data has been updated through 2008. The date at the bottom of each section will indicate the time period of the data. Information on some countries may no longer be up to date. See the "Research Completed" date at the beginning of each study on the Title Page or the "Data as of" date at the end of each section of text. This information is included due to its comprehensiveness and for historical purposes.

Note that current information from the CIA World Factbook, U.S. Department of State Background Notes, Australia's Department of Foreign Affairs and Trade Country Briefs, the UK's Foreign and Commonwealth Office's Country Profiles, and the World Bank can be found on Factba.se.

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