est 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. The domestic
economy continues to revolve around agriculture, which accounts for
about 35% of GDP and employs about 55% of the work force, mainly
small landholders. 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 2007. Ghana signed a Millennium Challenge Corporation (MCC)
Compact in 2006, which aims to assist in transforming Ghana's
agricultural sector.

GDP (purchasing power parity):

$31.13 billion (2007 est.)

GDP (official exchange rate):

$14.86 billion (2007 est.)

GDP - real growth rate:

5.5% (2007 est.)

GDP - per capita (PPP):

$1,400 (2007 est.)

GDP - composition by sector:

agriculture: 37.3%
industry: 25.3%
services: 37.5% (2006 est.)

Labor force:

11.29 million (2007 est.)

Labor force - by occupation:

agriculture: 56%
industry: 15%
services: 29% (2005 est.)

Unemployment rate:

11% (2000 est.)

Population below poverty line:

28.5% (2007 est.)

Household income or consumption by percentage share:

lowest 10%: 2.2%
highest 10%: 30.1% (1999)

Distribution of family income - Gini index:

39.4 (2005-06)

Investment (gross fixed):

31.6% of GDP (2007 est.)

Budget:

revenues: $4.262 billion
expenditures: $5.481 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

58.5% of GDP (2007 est.)

Inflation rate (consumer prices):

10.7% (2007 est.)

Central bank discount rate:

13.5% (31 December 2007)

Commercial bank prime lending rate:

NA

Stock of money:

$2.179 billion (31 December 2006)

Stock of quasi money:

$2.174 billion (31 December 2006)

Stock of domestic credit:

$4.173 billion (31 December 2006)

Agriculture - products:

cocoa, rice, cassava (tapioca), peanuts, c