thiopia; similar to the
flag of Bolivia, which has a coat of arms centered in the yellow band

Economy Ghana

Economy - overview: Well endowed with natural resources, Ghana has
roughly twice the per capita output of the poorer countries in West
Africa. Even so, Ghana remains heavily dependent on international
financial and technical assistance. Gold, timber, and cocoa production
are major sources of foreign exchange. The domestic economy continues
to revolve around subsistence agriculture, which accounts for 36% of GDP
and employs 60% of the work force, mainly small landholders. Excessively
expansionary monetary and fiscal policy prior to the 2000 elections led
to accelerating inflation in early 2001. A depressed cocoa market and
continued weak growth in non-traditional exports led to disappointing
growth in 2001. Ghana opted for debt relief under the Heavily Indebted
Poor Country (HIPC) program in 2002.

GDP: purchasing power parity - $39.4 billion (2001 est.)

GDP - real growth rate: 3% (2001 est.)

GDP - per capita: purchasing power parity - $1,980 (2001 est.)

GDP - composition by sector: agriculture: 36% industry: 25% services:
39% (2000 est.)

Population below poverty line: 31.4% (1992 est.)

Household income or consumption by percentage share: lowest 10%: 2.4%
highest 10%: 29.5% (1998)

Distribution of family income - Gini index: 39.6 (1998)

Inflation rate (consumer prices): 25% (2001 est.)

Labor force: 9 million (2000 est.)

Labor force - by occupation: agriculture 60%, industry 15%, services 25%
(1999 est.)

Unemployment rate: 20% (1997 est.)

Budget: revenues: $1.603 billion expenditures: $1.975 billion, including
capital expenditures of $NA (2001 est.)

Industries: mining, lumbering, light manufacturing, aluminum smelting,
food processing

Industrial production growth rate: 3.8% (2000 est.)

Electricity - production: 5.92 billion kWh (2000)

Electricity - production by source: fossil fuel: 30.41% hydro: 69.59%
other: 0% (2000) nuclear: 0%

Electricity - consumption: 5.484 billion kWh (2000)

Electricity - exports: 422 million kWh (2000)

Electricity - imports: 400 million kWh (2000)

Agriculture - products: cocoa, rice, coffee, cassava (tapioca), peanuts,
corn, shea nuts, bananas; timber

Exports: $1.94 billion (f.o.b., 2000)

Exports - commodities: gold, cocoa, timber, tuna, bauxite, aluminum,
manganese ore, diamonds

Exports - partners: Togo, UK, I