, gold, and
cocoa; exports in
percentage Ghana possesses
industrial minerals,
hydrocarbons and
precious metals. It is an emerging designated
digital economy with
mixed economy hybridisation and an
emerging market. It has an economic plan target known as the "Ghana Vision 2020". This plan envisions Ghana as the first African country to become a
developed country between 2020 and 2029 and a
newly industrialised country between 2030 and 2039. This excludes fellow
Group of 24 member and Sub-Saharan African country
South Africa, which is a newly industrialised country. Ghana's economy has ties to the
Chinese yuan renminbi along with Ghana's gold reserves. In 2013, the
Bank of Ghana began circulating the renminbi throughout Ghanaian state-owned banks and to the Ghana public as
hard currency along with the national
Ghanaian cedi for second national trade currency. Between 2012 and 2013, 38% of rural dwellers were experiencing poverty whereas 11% of urban dwellers were. Urban areas hold greater opportunity for employment, particularly in informal trade, while 94% of "rural poor households" participate in the agricultural sector. The
Volta River Authority and the
Ghana National Petroleum Corporation, both state-owned, are the two major electricity producers. The
Akosombo Dam, built on the Volta River in 1965, along with the
Bui Dam, the
Kpong Dam and other hydroelectric dams, provide
hydropower. The
Ghana Stock Exchange is the fifth largest on continental Africa and 3rd largest in Sub-Saharan Africa with a
market capitalisation of
GH¢ 57.2 billion or
CN¥180.4 billion in 2012 with the South Africa
JSE Limited as first. The Ghana Stock Exchange was the second best performing
stock exchange in Sub-Saharan Africa in 2013. Ghana produces
cocoa. It is the second largest producer of cocoa globally and its
ICCO membership helps in its international cocoa trade. Ghana is classified as a middle-income country.
Services account for 50% of GDP, followed by manufacturing (24.1%),
extractive industries (5%), and taxes (20.9%). The
information and communications technology (ICT) sector plays a role in Ghana's industrial landscape, with companies such as
Rlg Communications, a state-affiliated digital technology corporation, leading in the production of tablet computers, smartphones, and consumer electronics. Urban
electric cars have been manufactured in Ghana since 2014. Ghana announced plans to issue government debt by way of social and green bonds in autumn of 2021, making it the first African country to do so. The country, which was planning to borrow up to $5 billion in international markets, would use the proceeds from these sustainable bonds to refinance debt used for social and environmental projects and pay for educational or health. The country will use the proceeds to forge ahead with a free secondary-school initiative started in 2017 among other programs, while having recorded its lowest economic growth rate in 37 years in 2020. of the
Ghana National Petroleum Corporation and
National Petroleum Authority, located off the coast of the
Western Region Ghana produces and exports
hydrocarbons such as
sweet crude oil and natural gas. The 100%-state-owned
filling station company,
Ghana Oil Company, is the number one petroleum and gas filling station, and the 100%-state-owned state oil company Ghana National Petroleum Corporation oversees
hydrocarbon exploration and production of petroleum and natural gas reserves. Ghana aims to further increase the output of oil to per day and gas to per day. The
Jubilee Oil Field, which contains up to of sweet crude oil, was discovered in 2007. Ghana is believed to have up to to of petroleum in reserves, which is the fifth-largest in Africa and the 21st-to-25th-
largest proven reserves in the world. It also has up to of natural gas in reserves. The government has drawn up plans to
nationalise petroleum and natural gas reserves to increase government revenue. In 2015, Ghana produced 88 metric tonnes of gold as per the
Our World in Data report. As of 2019, Ghana was the 7th largest producer of gold in the world, producing ~140
tonnes that year. This record saw Ghana surpass South Africa in output for the first time, making Ghana the largest gold producer in Africa. In addition to gold, Ghana exports
silver, timber,
diamonds,
bauxite, and
manganese, and has other mineral deposits. Ghana ranks 9th in the world in diamond export and reserve size. The government has drawn up plans to
nationalize mining industry to increase government revenue. "Shortages" of electricity in 2015 and 2016 led to
dumsor ("persistent, irregular and unpredictable" electric power outages), increasing the interest in renewables. As of 2019, there is a surplus of electricity. The
judicial system of Ghana deals with corruption, economic malpractice and lack of economic transparency. According to Transparency International's
Corruption Perceptions Index of 2018, out of 180 countries, Ghana was ranked 78th, with a score of 41 on a scale where a 0–9 score means highly corrupt, and a 90–100 score means very clean. This was based on perceived levels of public sector corruption.
Science and technology Ghana launched a cellular mobile network in 1992. It was later connected to the Internet and introduced
ADSL broadband services. Ghana was ranked 101st in the
Global Innovation Index in 2025. The
Ghana Space Science and Technology Centre (GSSTC) and Ghana Space Agency (GhsA) oversee
space exploration and space programmes. GSSTC and GhsA worked to have a
national security observational satellite launched into orbit in 2015. Ghana's annual space exploration expenditure has been 1% of its GDP, to support research in science and technology. In 2012, Ghana was elected to chair the
Commission on Science and Technology for Sustainable Development in the South (Comsats); Ghana has a joint effort in space exploration with the
South African National Space Agency. In 2011, tourists visiting Ghana numbered 1,087,000, with arrivals including South Americans, Asians, Europeans, and North Americans. Castles include
Cape Coast Castle and the
Elmina Castle. Castles mark where blood was shed in the slave trade and preserve and promote the African heritage stolen and destroyed through the slave trade. The World Heritage Convention of UNESCO named Ghana's castles and forts as World Heritage Monuments: "The Castles and Forts of Ghana shaped not only Ghana's history but that of the world over four centuries as the focus of first the gold trade and then the slave trade. They are a significant and emotive symbol of European–African encounters and of the starting point of the African Diaspora." The country had moved two places up from the 2009 rankings. In 2011,
Forbes magazine published that Ghana was ranked the 11th most friendly country in the world. The assertion was based on a survey in 2010 of a cross-section of travellers. Of all the African countries that were included in the survey, Ghana ranked highest. Up and down the coastline, surfing spots have been identified and cultivated by locals and internationals. Surfers have made trips to the country to sample the waves. Surfers carried their boards amid
traditional fishing vessels. According to Destination Pride, Ghana's Pride score is 22 (out of 100). ==Demographics==