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Ghana

Students in the metal workshop of a vocational training institute in Accra, Ghana

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Overview

Anchor for stability in West Africa

Democracy is fairly well established in Ghana and the country is an important anchor for stability in West Africa. For many decades now Ghana has been successfully pursuing a good neighbours policy and pushing for more regional integration.

Ghana’s economy is heavily dependent on export earnings from just a few commodities, such as gold, crude oil and cocoa. The fluctuating world market prices for these commodities have a considerable impact on the country’s economic situation.

In 2010, Ghana achieved the leap to become a lower-middle-income country. However, there are very big differences between the level of development in the economically strong coastal region and the level of development in the North of the country. Ghana was remarkably successful in terms of reaching the targets to be achieved by 2015 for the Millennium Development Goals. Ghana was the first sub-Saharan African country to succeed in halving poverty compared with figures for 1990.

Development cooperation

The priority areas of development cooperation between Germany and Ghana are decentralisation, promoting agriculture and sustainable economic development.

Germany and Ghana signed a reform partnership in the field of renewable energies in December 2017. Furthermore, Germany is also supporting proper, environmentally sound recycling of electronic waste.

Scroll down to get detailed information about the situation in Ghana and Germany's development engagement in the country.

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Priority areas of cooperation with Ghana

Development facts and figures from Ghana

Elmina beach in Ghana just before sunrise
Regional engagement

Political heavyweight

Ghana is a country that embraces the idea of pan-Africanism, engaging in efforts to strengthen regional and supra-regional cooperation between African nations. Thanks to its positive democratic and economic development, this relatively small country packs a powerful political punch. It is one of the most active of all the member states of the African Union and the Economic Community of West African States (ECOWAS).

Within ECOWAS, Ghana has lobbied intensively for the signing of an Economic Partnership Agreement (EPA) with the European Union. This Agreement will give Ghana and the region better access to the European single market. The West African countries are hoping that this will lead to more dynamic growth and new jobs in their region. The European Union signed the Agreement in December 2014. Until all ECOWAS member states have signed, an interim EPA regulates trade between Ghana and the EU.

Children in school uniform on a street in Accra, Ghana
Social situation

Good progress achieved

Over the past few decades Ghana has achieved many development milestones. For example, poverty has been very clearly reduced. At the same time, the availability of safe drinking water has been considerably improved. Good progress has also been made in regard to basic education.

Better medical care for pregnant women and extensive immunisation programmes have helped to continuously lower the mortality rate among children and mothers. The HIV infection rate in Ghana has been relatively low for years. Overall, however, there is still a great deal that needs to be done in the health sector.

Gender equality for women is guaranteed under the constitution, but is not practised in a convincing way. The traditional system of values that continues to be upheld inevitably leads to discrimination against women and certain other groups of people (for example homosexuals).

Some 80 per cent of Ghanaians work in the informal sector, which means that most of them lack both formal vocational training and social protection.

Economic situation

Good prospects and big challenges

In the medium term, the economic outlook for Ghana is good. In recent years, major oil and gas reserves have been discovered off the coast. Since then, oil has become the country’s second most important export and, in the coming years, production is due to be increased considerably. Ghana has been a member of the Extractive Industries Transparency Initiative (EITI) since 2010.

However, the highly mechanised extractive sector with its sophisticated technologies creates few new jobs. Economic performance in labour-intensive sectors such as agriculture and the manufacturing industry has been poor and stagnating for decades.

The sale of cocoa generates considerable income, for Ghana is the world’s second largest cocoa producer, after Côte d'Ivoire. Starting in 2010, the country has begun to export significant volumes of other agricultural products such as pineapples and mangos as well. This is an important step towards reducing its economic dependence on individual export goods.

Challenges

Economic growth has fallen significantly since 2011. The International Monetary Fund (IMF) predicts that growth rates will start to rise again in 2018.

The economic challenges facing the country include high inflation, a high level of state debt and heavy fluctuations in foreign direct investment. An IMF programme is meant to help implement public spending reforms, reduce subsidies and create greater transparency.

Investment climate

The current reluctance on the part of investors could have been caused by new laws and regulations which are viewed as potentially detrimental to investment. Further obstacles to investment are bureaucratic hurdles, uncertainties relating to the acquisition of land and to the enforcement of legal claims, and the lack of fully trained workers and adequate transport infrastructure. The World Bank report "Doing Business 2018", which assesses the business climate in 190 countries, placed Ghana at number 120, far below its ranking in previous years.

Corruption is a major problem, particularly in the government, the police and the judiciary. On the Corruption Perceptions Index published by Transparency International, Ghana is ranked 81st out of the 180 countries rated. The appointment in February 2018 of a special state prosecutor for corruption cases could be a turning point.

Student in the metal workshop of a vocational training institute in Accra, Ghana
Building site in Accra, Ghana

Development potential

The current government headed by President Nana Akufo-Addo has set itself the ambitious goal of making Ghana’s economy able to stand on its own feet and ending the country’s reliance on development assistance in the medium term ('Ghana beyond aid' vision). In the current United Nations Human Development Index (HDI), Ghana is ranked 140th out of 189 countries – a good position compared with other African countries.

Besides the extraction of gas and oil, cocoa production and gold mining, further growth sectors are the construction industry and the production of consumer goods. Big potential that is currently not being used sufficiently is also to be found in the agricultural sector.

Civil society in Ghana actively uses the freedoms it has, playing its part in the country’s further democratisation. There are around 6,000 registered non-governmental organisations (NGOs) in the country.

University hospital (Korle Bu Hospital) in Accra, Ghana

German development cooperation with Ghana

Germany is one of Ghana’s most important development partners. The aim of German-Ghanaian development cooperation is to promote viable, pro-poor, inclusive economic growth and thus bolster Ghana’s status as a middle-income country.

The Federal Ministry for Economic Cooperation and Development (BMZ) pledged a total of 157 million euros for bilateral development cooperation with Ghana for the period from 2015 to 2017.

The priority areas of cooperation are:

  • Governance (decentralisation and improving public finances)
  • Agriculture
  • Sustainable economic development (including vocational training)

Under the framework of a reform partnership Germany is assisting Ghana in promoting renewable energies and energy efficiency. Cooperation with regard to waste management has also been agreed. The focus of this cooperation is on how to handle electronic waste.

Reform partnership

Securing a sustainable energy supply

Energy demand is constantly rising in Ghana, but the country’s power supply is already inadequate and unreliable. The main problems are power lost during transmission and distribution, inadequate cost recovery by energy suppliers and the dependence on fossil fuels.

In order to increase the country’s energy security, Germany and Ghana launched a reform partnership for renewable energies in December 2017. This partnership is part of the Marshall Plan with Africa set out by Development Minister Gerd Müller and is Germany’s contribution to the G20 Compact with Africa initiative.

The advisory services that Germany is providing centre around devising a new forward-looking law on giving priority to renewable energy sources. The aim is that, by 2020, ten per cent of all energy consumption in Ghana will be met using renewable energy sources. With this aim in mind, Germany is supporting the use of solar energy and the construction of overhead transmission lines between Ghana and Côte d’Ivoire, for example. At the same time, training programmes in the energy sector are aimed at creating new prospects for work in Ghana.

Solar system on a house roof in Accra, Ghana
  • Employees at the Ministry of Finance in Ghana
    Governance

    Decentralisation and improving public finances

    The government of Ghana is firmly committed to establishing democratic structures and further improving governance. Germany has been successfully supporting Ghana’s efforts in this regard for many years.

  • Cashew plants are grafted at the Cashew Research Station in Wenchi (Ghana).
    Agriculture

    Creating value chains for agricultural products

    In order to help combat poverty in Ghana and establish food security, Germany is engaged in activities designed to increase agricultural productivity. Ghana is one of the priority countries under the special initiative 'ONE WORLD – No Hunger'.

  • The Girls Vocational Training Institute in Accra (Ghana) offers electrical engineering training to girls.
    Sustainable economic development

    Vocational training and financial systems development

    Germany is committed to improving vocational education and training in Ghana. In the area of financial system development, BMZ supports the development of both conventional and mobile cashless payment systems.

  • Old electrical appliances are incinerated at a waste disposal site in Ghana's capital Accra.
    Electronic waste

    Promoting proper recycling

    In Ghana, electronic waste is currently processed mainly in informal landfills – often in a way that is extremely harmful to the environment and health. Germany promotes the development of appropriate recycling and disposal systems.

Employees at the Ministry of Finance in Ghana
Governance

Decentralisation and improving public finances

The government of Ghana is firmly committed to establishing democratic structures and further improving governance. By expanding national, regional and local-level administrative structures, it is endeavouring to lay the foundations for sustainable economic growth.

Germany has been successfully supporting Ghana’s efforts in this regard for many years through cooperation projects and programmes. Important areas of activity are decentralisation and municipal development, promoting civil society and improving the performance of administrative bodies. Germany has supported, among other things, the introduction at the district level and further development of an incentives-based funding system for municipal investments.

The Ghanaian government is also receiving support for its efforts to adapt its tax, financial and budget systems in line with good governance principles. This includes boosting tax revenues, modernising the tax system, improving budget preparation and strengthening national accountability to parliament and to the court of auditors. Furthermore, Germany is supporting the transparent use of revenues from the extractive sector (EITI process). These activities are making an important contribution to combating corruption.

Cashew plants are grafted at the Cashew Research Station in Wenchi (Ghana).
Agriculture

Creating value chains for agricultural products

In order to help combat poverty in Ghana and establish food security, Germany is engaged in activities designed to increase agricultural productivity. The potential of the agricultural sector is currently underused.

Ghana is therefore one of the priority countries under the special initiative 'ONE WORLD – No Hunger'. Through the establishment of "green innovation centres”, the initiative is supporting the efforts of smallholders to increase the sustainability of their production methods. Detailed information about the green innovation centre in Ghana can be found here.

The aim of German involvement is to enable farmers to raise their production above subsistence level and generate an income for themselves by selling some of their produce. The objective is to make the production, processing and marketing of these products more efficient and profitable so that they are better able to compete with products on national, regional and international markets. The focus of the support that Germany is providing is on products with good economic potential such as maize, rice, sorghum, soya beans, rubber, pineapples, mangos, cocoa, palm oil, cashew nuts and peanuts.

New jobs

At the same time new jobs are to be created in connection with the processing of agricultural products, so that more profit remains in the country and above all in rural areas. German development cooperation activities in this connection have the aim of advising state institutions and also major public and private service providers in the agricultural sector.

In addition, under a triangular cooperation arrangement together with Israel, the cultivation of citrus fruits has been improved in two regions. This cooperation is being continued through the green innovation centre in Ghana.

Clear increase in income

These efforts have been crowned with success: the average incomes of agricultural producers for all the product ranges that are being supported have clearly increased. In the rubber sector the number of jobs has gone up by about 20 per cent.

The Girls Vocational Training Institute in Accra (Ghana) offers electrical engineering training to girls.
Sustainable economic development

Vocational training and financial systems development

The aim of German development cooperation in the area of economic development is to increase the number of jobs, especially in small and medium-sized businesses, and improve their access to financial services.

In order to overcome the lack of skilled workers in micro and small enterprises, Germany is involved in targeted efforts to improve the vocational training on offer to those working in employment-intensive industries. For example, training opportunities for young people are being created in collaboration with the private sector.

In the field of financial systems development, Germany is providing support for, inter alia, financial basic education, the setting-up of payment systems and a deposit guarantee scheme, the provision of micro loans, the development of micro-insurance products, and the setting-up of regional and local advice centres, especially in rural areas.

As part of German Financial Cooperation, a mobile cashless payment system (e-zwich) is being supported. In December 2017 the system had 2.3 million users and the numbers were still growing. Social benefits are now also being processed via e-zwich. The payment system is a secure alternative to cash, especially in rural areas where access to banks and government agencies is difficult.

Old electrical appliances are incinerated at a waste disposal site in Ghana's capital Accra.
Electronic waste

Promoting proper recycling

Growing wealth, changing patterns of consumption and illegal imports are causing more and more electrical and electronic waste to be produced in Ghana. Currently, this waste is mainly processed at informal dumps, sometimes using recycling and waste disposal methods that are extremely harmful to the environment and hazardous to people’s health – for example the practice of burning the covering off cables to get at the valuable metals within.

Germany is promoting the development of proper recycling and waste disposal systems and the development of economically viable business models for the sustainable management of electronic waste. In addition, the working and economic conditions of the people who have until now been processing electronic waste in the informal economy will also be improved.

Map of Ghana

This map does not necessarily reflect the official position of the German government in terms of international law.

Development facts and figures

  Ghana Data for Germany
Country namea16180138 Republic of Ghana Federal Republic of Germany
Capitala16180110 Accra, approximately 2.3 million inhabitants Berlin, 3.7 million inhabitants
Surface areaa16180096 238,540 sq km (2017) 357,380 sq km (2017)
Ranking Human Development Index (HDI)a16180124 140 of 189 (2017) 5 of 189 (2017)
http://data.worldbank.org/indicator/AG.SRF.TOTL.K2

Surface area

Surface area is a country's total area, including areas under inland bodies of water and some coastal waterways.

http://hdr.undp.org/en/statistics/

Ranking Human Development Index (HDI)

The United Nations Development Programme (UNDP) publishes a Human Development Report once a year. The Human Development Index (HDI) contained in the Report records average figures for a country in fundamentally important fields of human development. These include, for example, life expectancy at birth, level of education and per capita income. From a large number of such individual indicators a ranking is calculated. Using this ranking it is possible to establish the average development status of a particular country.

http://data.worldbank.org/indicator/SP.RUR.TOTL.ZS

Population living in rural areas (% of total)

Rural population refers to people living in rural areas as defined by national statistical offices. It is calculated as the difference between total population and urban population.

http://data.worldbank.org/indicator/SP.DYN.LE00.IN

Life expectancy

Life expectancy at birth indicates the number of years a newborn infant would live if prevailing patterns of mortality at the time of its birth were to stay the same throughout its life.

http://data.worldbank.org/indicator/SP.POP.65UP.TO.ZS

Population ages 65 and above (% of total)

 

http://data.worldbank.org/indicator/SP.POP.0014.TO.ZS

Population ages 0-14 (% of total)

 

http://www.bmz.de/en/index.html

Volume of German development cooperation

Funds for development cooperation (Technical and Financial Cooperation) committed by the Federal Republic of Germany under intergovernmental agreements.

http://data.worldbank.org/indicator/DT.ODA.ODAT.CD

Total amount of ODA received

Net official development assistance (ODA) consists of disbursements of loans made on concessional terms (net of repayments of principal) and grants by official agencies of the members of the Development Assistance Committee (DAC), by multilateral institutions, and by non-DAC countries to promote economic development and welfare in countries and territories in the DAC list of ODA recipients. It includes loans with a grant element of at least 25 percent (calculated at a rate of discount of 10 percent). Data are in current U.S. dollars.

http://data.worldbank.org/indicator/DT.ODA.ODAT.PC.ZS

Amount of ODA received per capita

Net official development assistance (ODA) per capita consists of disbursements of loans made on concessional terms (net of repayments of principal) and grants by official agencies of the members of the Development Assistance Committee (DAC), by multilateral institutions, and by non-DAC countries to promote economic development and welfare in countries and territories in the DAC list of ODA recipients; and is calculated by dividing net ODA received by the midyear population estimate. It includes loans with a grant element of at least 25 percent (calculated at a rate of discount of 10 percent). Data are in current U.S. dollars.

http://data.worldbank.org/indicator/SN.ITK.DEFC.ZS

Undernutrition

Population below minimum level of dietary energy consumption (also referred to as prevalence of undernourishment) shows the percentage of the population whose food intake is insufficient to meet dietary energy requirements continuously. Data showing as 2.5 signifies a prevalence of undernourishment below 2.5%.

http://data.worldbank.org/indicator/SI.POV.NAHC

Population living below the national poverty line (% of total)

National poverty rate is the percentage of the population living below the national poverty line. National estimates are based on population-weighted subgroup estimates from household surveys.

http://data.worldbank.org/indicator/SI.POV.DDAY

Population living in absolute poverty (% of total)

The percentage of the population living on less than 1.90 US dollars a day at 2011 international prices. The World Bank last changed the definition of this poverty line in October 2015. Previously, it was defined as the percentage of the population living on less than 1.25 US dollars a day at 2005 international prices. Five countries (Bangladesh, Cambodia, Cape Verde, Jordan and Laos) still use this older definition.

http://data.worldbank.org/indicator/SE.PRM.CMPT.ZS

Children who complete primary school (% of total)

Primary completion rate is the percentage of students completing the last year of primary school. It is calculated by taking the total number of students in the last grade of primary school, minus the number of repeaters in that grade, divided by the total number of children of official graduation age.

When using this method of calculation the result may be greater than 100 per cent for some countries. This just means that the number of children completing their primary school education in that particular school year was higher than the number of children who were of official school leaving age.

http://data.worldbank.org/indicator/SE.PRM.NENR

Proportion of school age children attending primary school

Net enrollment ratio is the ratio of children of official school age based on the International Standard Classification of Education 1997 who are enrolled in school to the population of the corresponding official school age. Primary education provides children with basic reading, writing, and mathematics skills along with an elementary understanding of such subjects as history, geography, natural science, social science, art, and music.

http://data.worldbank.org/indicator/SE.ADT.LITR.ZS

Literacy rate

Adult literacy rate is the percentage of people ages 15 and above who can, with understanding, read and write a short, simple statement on their everyday life.

http://data.worldbank.org/indicator/SE.XPD.TOTL.GD.ZS

Public spending on education

Public expenditure on education consists of current and capital public expenditure on education includes government spending on educational institutions (both public and private), education administration as well as subsidies for private entities (students/households and other privates entities).

http://data.worldbank.org/indicator/SE.PRM.ENRL.TC.ZS

Number of pupils per teacher at primary school level

Primary school pupil-teacher ratio is the number of pupils enrolled in primary school divided by the number of primary school teachers (regardless of their teaching assignment).

http://data.worldbank.org/indicator/SH.IMM.IDPT

Immunization, diphtheria, pertussis, and tetanus (DPT) (% of children ages 12-23 months)

Child immunization measures the percentage of children ages 12-23 months who received vaccinations before 12 months or at any time before the survey. A child is considered adequately immunized against diphtheria, pertussis (or whooping cough), and tetanus (DPT) after receiving three doses of vaccine.

http://data.worldbank.org/indicator/SH.STA.BRTC.ZS

Births attended by skilled health staff (% of total)

Births attended by skilled health staff are the percentage of deliveries attended by personnel trained to give the necessary supervision, care, and advice to women during pregnancy, labor, and the postpartum period; to conduct deliveries on their own; and to care for newborns.

http://data.worldbank.org/indicator/SH.STA.ANVC.ZS

Pregnant women receiving prenatal care (%)

Pregnant women receiving prenatal care are the percentage of women attended at least once during pregnancy by skilled health personnel for reasons related to pregnancy.

http://data.worldbank.org/indicator/SH.DYN.MORT

Under-five mortality rate (per 1,000 live births)

Under-five mortality rate is the probability per 1,000 that a newborn baby will die before reaching age five, if subject to current age-specific mortality rates.

http://data.worldbank.org/indicator/SH.STA.MMRT

Number of mothers who die during pregnancy or childbirth (per 100,000 live births)

Maternal mortality ratio is the number of women who die during pregnancy and childbirth, per 100,000 live births. The data are estimated with a regression model using information on fertility, birth attendants, and HIV prevalence.

http://data.worldbank.org/indicator/SH.DYN.AIDS.ZS

HIV/AIDS prevalence among the 15-49 age group

Prevalence of HIV refers to the percentage of people ages 15-49 who are infected with HIV.

http://data.worldbank.org/indicator/SH.XPD.PUBL.ZS

Public health spending as a percentage of gross domestic product

Public health expenditure consists of recurrent and capital spending from government (central and local) budgets, external borrowings and grants (including donations from international agencies and nongovernmental organizations), and social (or compulsory) health insurance funds.

http://data.worldbank.org/indicator/IS.ROD.PAVE.ZS

Roads, paved (% of total roads)

Paved roads are those surfaced with crushed stone (macadam) and hydrocarbon binder or bituminized agents, with concrete, or with cobblestones, as a percentage of all the country's roads, measured in length.

http://data.worldbank.org/indicator/IT.NET.USER.ZS

Individuals using the Internet (% of population)

Internet users are individuals who have used the Internet (from any location) in the last 3 months. The Internet can be used via a computer, mobile phone, personal digital assistant, games machine, digital TV etc.

http://data.worldbank.org/indicator/IS.VEH.PCAR.P3

Passenger cars (per 1,000 people)

Passenger cars refer to road motor vehicles, other than two-wheelers, intended for the carriage of passengers and designed to seat no more than nine people (including the driver).

http://data.worldbank.org/indicator/IT.CEL.SETS.P2

Mobile cellular subscriptions (per 100 people)

Mobile cellular telephone subscriptions are subscriptions to a public mobile telephone service using cellular technology, which provide access to the public switched telephone network. Post-paid and prepaid subscriptions are included.

http://data.worldbank.org/indicator/SH.H2O.SAFE.ZS

Percentage of the population with sustainable access to safe drinking water

Access to an improved water source refers to the percentage of the population with reasonable access to an adequate amount of water from an improved source, such as a household connection, public standpipe, borehole, protected well or spring, and rainwater collection. Unimproved sources include vendors, tanker trucks, and unprotected wells and springs. Reasonable access is defined as the availability of at least 20 liters a person a day from a source within one kilometer of the dwelling.

http://data.worldbank.org/indicator/SH.STA.ACSN

Improved sanitation facilities (% of population with access)

Access to an improved water source refers to the percentage of the population with reasonable access to an adequate amount of water from an improved source, such as a household connection, public standpipe, borehole, protected well or spring, and rainwater collection. Unimproved sources include vendors, tanker trucks, and unprotected wells and springs. Reasonable access is defined as the availability of at least 20 liters a person a day from a source within one kilometer of the dwelling.

http://data.worldbank.org/indicator/AG.LND.AGRI.ZS

Land under cultivation (% of total land area)

Agricultural land refers to the share of land area that is arable, under permanent crops, and under permanent pastures. Arable land includes land defined by the FAO as land under temporary crops (double-cropped areas are counted once), temporary meadows for mowing or for pasture, land under market or kitchen gardens, and land temporarily fallow. Land abandoned as a result of shifting cultivation is excluded. Land under permanent crops is land cultivated with crops that occupy the land for long periods and need not be replanted after each harvest, such as cocoa, coffee, and rubber. This category includes land under flowering shrubs, fruit trees, nut trees, and vines, but excludes land under trees grown for wood or timber. Permanent pasture is land used for five or more years for forage, including natural and cultivated crops.

http://data.worldbank.org/indicator/ER.LND.PTLD.ZS

Land classified as conservation areas (% of total land area)

Terrestrial protected areas are those officially documented by national authorities.

http://data.worldbank.org/indicator/AG.LND.FRST.ZS

Forested land (% of total land area)

Forest area is land under natural or planted stands of trees of at least 5 meters in situ, whether productive or not, and excludes tree stands in agricultural production systems (for example, in fruit plantations and agroforestry systems) and trees in urban parks and gardens.

http://data.worldbank.org/indicator/EN.ATM.CO2E.PC

Level of carbon emissions per capita (in tons)

Carbon dioxide emissions are those stemming from the burning of fossil fuels and the manufacture of cement. They include carbon dioxide produced during consumption of solid, liquid, and gas fuels and gas flaring.

http://data.worldbank.org/indicator/EG.USE.ELEC.KH.PC

Power consumption per inhabitant

Electric power consumption measures the production of power plants and combined heat and power plants less transmission, distribution, and transformation losses and own use by heat and power plants.

http://data.worldbank.org/indicator/SL.AGR.EMPL.ZS

Jobs in agriculture (% of total)

Employees are people who work for a public or private employer and receive remuneration in wages, salary, commission, tips, piece rates, or pay in kind. Agriculture corresponds to division 1 (ISIC revision 2) or tabulation categories A and B (ISIC revision 3) and includes hunting, forestry, and fishing.

http://data.worldbank.org/indicator/EG.IMP.CONS.ZS

Energy imports (% of total energy consumption)

Net energy imports are estimated as energy use less production, both measured in oil equivalents. A negative value indicates that the country is a net exporter. Energy use refers to use of primary energy before transformation to other end-use fuels, which is equal to indigenous production plus imports and stock changes, minus exports and fuels supplied to ships and aircraft engaged in international transport.

http://data.worldbank.org/indicator/SL.TLF.0714.ZS

Child labour (% of children aged 7 to 14)

Economically active children refer to children involved in economic activity for at least one hour in the reference week of the survey.

http://data.worldbank.org/indicator/SL.UEM.TOTL.ZS

Unemployment rate

Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Definitions of labor force and unemployment differ by country.

http://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD

Foreign direct investment, net inflows (BoP, current US$)

Foreign direct investment are the net inflows of investment to acquire a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments. This series shows net inflows (new investment inflows less disinvestment) in the reporting economy from foreign investors. Data are in current U.S. Dollars.

http://data.worldbank.org/indicator/DT.DOD.DECT.CD

Total foreign debt

Total external debt is debt owed to non-residents repayable in foreign currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Data are in current U.S. dollars.

http://data.worldbank.org/indicator/NY.GNP.ATLS.CD

GNI (current US$)

GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

http://data.worldbank.org/indicator/NY.GNP.PCAP.CD

GNI per capita (current US$)

GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

http://data.worldbank.org/indicator/NE.EXP.GNFS.ZS

Exports of goods and services (% of GDP)

Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

http://data.worldbank.org/indicator/NE.IMP.GNFS.ZS

Imports of goods and services (% of GDP)

Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

http://data.worldbank.org/indicator/FP.CPI.TOTL.ZG

Inflation

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

http://data.worldbank.org/indicator/DT.TDS.DECT.EX.ZS

Debt service as percentage of exports of goods and services and net income from abroad

Total debt service is the sum of principal repayments and interest actually paid in foreign currency, goods, or services on long-term debt, interest paid on short-term debt, and repayments (repurchases and charges) to the IMF. Exports of goods and services includes income and workers' remittances.

http://data.worldbank.org/indicator/NV.IND.TOTL.ZS

Industry, value added (% of GDP)

Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.

http://data.worldbank.org/indicator/NV.AGR.TOTL.ZS

Agriculture, value added (% of GDP)

Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.

http://data.worldbank.org/indicator/NV.SRV.TETC.ZS

Services, etc., value added (% of GDP)

Services correspond to ISIC divisions 50-99 and they include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.

http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG

GDP growth (annual %)

Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2000 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources

Further reading

A selection of links with further development-related background information on Ghana

BMZ glossary

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