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Well endowed with natural resources, Ghana has roughly twice the per capita output of the poorest countries in West Africa. Even so, Ghana remains heavily dependent on international financial and technical assistance. Gold and cocoa production and individual remittances are major sources of foreign exchange. Oil production is expected to expand in late 2010 or early 2011. The domestic economy continues to revolve around agriculture, which accounts for more than a third of GDP and employs more than half of the work force, mainly small landholders. Ghana signed a Millennium Challenge Corporation (MCC) Compact in 2006, which aims to assist in transforming Ghana's agricultural sector. Ghana opted for debt relief under the Heavily Indebted Poor Country (HIPC) program in 2002, and is also benefiting from the Multilateral Debt Relief Initiative that took effect in 2006. Thematic priorities under its current Growth and Poverty Reduction Strategy, which also provides the framework for development partner assistance, are: macroeconomic stability; private sector competitiveness; human resource development; and good governance and civic responsibility. Sound macro-economic management along with high prices for gold and cocoa helped sustain GDP growth in 2008 and 2009.
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$35.83 billion (2009 est.)
country comparison to the world: 100
$34.62 billion (2008 est.)
$32.27 billion (2007 est.)
note:
data are in 2009 US dollars
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$15.51 billion (2009 est.)
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3.5% (2009 est.)
country comparison to the world: 55
7.3% (2008 est.)
5.7% (2007 est.)
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$1,500 (2009 est.)
country comparison to the world: 199
$1,500 (2008 est.)
$1,400 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 33.6%
industry:
25.1%
services:
41.2% (2006 est.)
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10.33 million (2009 est.)
country comparison to the world: 47
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agriculture: 56%
industry:
15%
services:
29% (2005 est.)
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11% (2000 est.)
country comparison to the world: 123
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28.5% (2007 est.)
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lowest 10%: 2%
highest 10%:
32.8% (2006)
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39.4 (2005-06)
country comparison to the world: 65
40.7 (1999)
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36.8% of GDP (2009 est.)
country comparison to the world: 9
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revenues: $4.539 billion
expenditures:
$6.039 billion (2009 est.)
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55.2% of GDP (2009 est.)
country comparison to the world: 40
51.5% of GDP (2008 est.)
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19.3% (2009 est.)
country comparison to the world: 218
16.5% (2008 est.)
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17% (31 December 2008)
country comparison to the world: 19
13.5% (31 December 2007)
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NA%
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$NA (31 December 2008)
$2.179 billion (31 December 2006)
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$NA (31 December 2008)
$2.174 billion (31 December 2006)
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$NA (31 December 2008)
$4.173 billion (31 December 2006)
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$2.507 billion (31 December 2009)
country comparison to the world: 89
$3.394 billion (31 December 2008)
$2.38 billion (31 December 2007)
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cocoa, rice, cassava (tapioca), peanuts, corn, shea nuts, bananas; timber
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mining, lumbering, light manufacturing, aluminum smelting, food processing, cement, small commercial ship building
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3.5% (2009 est.)
country comparison to the world: 35
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6.746 billion kWh (2007 est.)
country comparison to the world: 102
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5.702 billion kWh (2007 est.)
country comparison to the world: 105
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249 million kWh (2007 est.)
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435 million kWh (2007 est.)
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7,081 bbl/day (2009 est.)
country comparison to the world: 88
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57,000 bbl/day (2009 est.)
country comparison to the world: 95
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4,843 bbl/day (2007 est.)
country comparison to the world: 106
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45,380 bbl/day (2007 est.)
country comparison to the world: 92
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15 million bbl (1 January 2009 est.)
country comparison to the world: 86
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0 cu m (2008 est.)
country comparison to the world: 193
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0 cu m (2008 est.)
country comparison to the world: 182
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0 cu m (2008 est.)
country comparison to the world: 76
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0 cu m (2008 est.)
country comparison to the world: 176
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22.65 billion cu m (1 January 2009 est.)
country comparison to the world: 75
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-$1.441 billion (2009 est.)
country comparison to the world: 141
-$3.543 billion (2008 est.)
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$5.715 billion (2009 est.)
country comparison to the world: 100
$5.27 billion (2008 est.)
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gold, cocoa, timber, tuna, bauxite, aluminum, manganese ore, diamonds, horticulture
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Netherlands 13.45%, UK 7.87%, France 5.85%, Ukraine 5.84%, Malaysia 3.97% (2009)
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$8.437 billion (2009 est.)
country comparison to the world: 93
$10.27 billion (2008 est.)
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capital equipment, petroleum, foodstuffs
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China 16.8%, Nigeria 11.88%, US 6.63%, Cote d'Ivoire 5.99%, India 5.57%, France 5.09%, UK 4.23% (2009)
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$2.45 billion (31 December 2009 est.)
country comparison to the world: 106
$2.028 billion (31 December 2008 est.)
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$5.84 billion (31 December 2009 est.)
country comparison to the world: 97
$5.055 billion (31 December 2008 est.)
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$NA
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$NA
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cedis (GHC) per US dollar - 1.4 (2009), 1.1 (2008), 0.95 (2007), 9,174.8 (2006), 9,072.5 (2005)
note:
in 2007 Ghana revalued its currency with 10,000 old cedis equal to 1 new cedis
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