Ghana
Ghana, located on the west coast of Africa, is a vibrant and culturally rich country known for its historical significance, natural beauty, and warm hospitality. The government system is a presidential republic; the chief of state and head of government is the president. Ghana has a mixed economic system, which includes some private freedom combined with weak centralized economic planning and government regulation. Ghana is a member of the Economic Community of West African States (ECOWAS).
With a population of over 30 million people, Ghana boasts a diverse mix of ethnic groups, each contributing to the country’s unique cultural tapestry. Form the bustling markets to Accra, the capital city, to the serene beaches along the Atlantic coastline, Ghana offers a captivating blend of traditional and modern experiences. With a stable democracy and a growing economy, Ghana has emerged as a prominent player in the region, attracting both tourists and investors oneself in the rhythms of highlife music, or savoring the flavors of local cuisine, Ghana offers a captivating journey into the heart of West Africa.
| Population | Population Growth Rate | Age Dependency Ratio | Urban Population | Infant Mortality Rate | Life Expectancy at Birth |
|---|---|---|---|---|---|
|
31,072,945 (2020) |
2.131 annual % (2020) |
67.424 % of working-age population (2020) |
57.349 % of total (2020) |
33.9 per 1,000 live births (2019) |
64.074 years (2019) |
Business partners
Exporters | Select your indicators | ||
Value imported in 2021 (USD thousand) | Trade balance 2021 (USD thousand) | Share in Ghana’s imports (%) | |
Total | 18,500,854 | -5,748,889 | 100 |
China | 7,365,480 | -6,128,968 | 39.8 |
India | 1,099,174 | 489,769 | 5.9 |
Netherlands | 1,043,693 | -253,377 | 5.6 |
United States of America | 983,215 | 795,868 | 5.3 |
Belgium | 686,135 | -404,826 | 3.7 |
Malaysia | 570,308 | -104,693 | 3.1 |
United Kingdom | 551,832 | -369,525 | 3 |
Turkey | 461,851 | -342,568 | 2.5 |
Germany | 421,075 | -84,204 | 2.3 |
South Africa | 415,185 | 131,335 | 2.2 |
Importers | Select your indicators | ||
Value exported in 2021 (USD thousand) | Trade balance 2021 (USD thousand) | Share in Ghana’s exports (%) | |
Total | 12,751,965 | -5,748,889 | 100 |
Switzerland | 2,451,468 | 2,417,914 | 19.2 |
United States of America | 1,779,083 | 795,868 | 14 |
India | 1,588,943 | 489,769 | 12.5 |
China | 1,236,512 | -6,128,968 | 9.7 |
Netherlands | 790,316 | -253,377 | 6.2 |
South Africa | 546,520 | 131,335 | 4.3 |
Malaysia | 465,615 | -104,693 | 3.7 |
Italy | 340,277 | 56,943 | 2.7 |
Germany | 336,871 | -84,204 | 2.6 |
France | 324,449 | 84,512 | 2.5 |
Major Cities
Accra
Kumasi
Sekondi-Takorandi
Culture
The People of Ghana are warn and friendly. They are polite, open and trusting – even with strangers. In Ghanaian society, it is traditional to take life at a relaxed pace and view time as a series of events rathe than a matter of hours or minutes.
In Ghanaian society, people are more important than schedules.
Most Ghanaians consider “Let’s get to business” conversation rude. It is custom for Ghanaians to exchange pleasantries and ask about family before beginning business. They greet one another, making extra effort to greet older people. With the men, handshakes almost always accompany greetings.
Ghana’s 24 million people include six major ethnic groups that break into more than 60 smaller ones.
The six larger groups are the Akan (Ashanti and Fanti), the Ewe, the Ga-Adangbe, the Mole-Dagbani, the Guan and the Gruma. Like most other African nations, Ghana has rich, traditional cultures that differ from one ethnic group to another.
Along with different ethnic groups and cultures, 52 separate languages and hundreds of dialects are spoken in Ghana. The official language is English – a residual of British colonial rule, from which modern Ghana gained independence in 1957.
Until its independence, Ghana was known as the Gold Coast. It was renamed Ghana, meaning “Warrior King”, to reflect the ancient Ghana Empire that flourished in West Africa during the 10th century.
Today, the Ghanaian government is a unitary republic considering of a president, parliament, cabinet, council of state and an independent judiciary. it is tradition t hold elections every four years. The government administration operates out of the central business district of Accra, the country’s capital city. As the country’s largest city, Accra has population of roughly 2.4 million.
Ghanaians emphasize values such as the importance of family, respect for the elderly and honor for traditional rulers.
They place high value on dignity and proper social conduct. Individual conduct is seen as having impact on an entire family, social group and community. Therefore, each person is expected to be respectful, dignified and observant in nearly every aspect of life.
An entire family shares any loss of honor, which makes the culture a collective one. protecting this sense of “Face” requires harmony. People behave with decorum to ensure they don’t cause embarrassment to others.
Everything is shared – even food, no matter how small the amount.
Weather and Climate
Ghana has a typically tropical climate thanks to its proximity to the equator and low elevations – the entire county lies below 1,000m (3300ft). Daytime temperatures are high throughout the year, approaching or surpassing 30°C (86°F) on most days, and humidity is also very high, especially along the coast. Temperatures tend to drop around 20°C (68°F) at night, more noticeably in the relatively dry north than the humid south. The most temperate part of Ghana is the highlands area flanking the Volta Basin, which is often pleasantly cool after dusk.
Natural Resources
The country is endowed this rich natural resources. Timber, Gold, Diamonds, Bauxite, Manganese, and Oil contribute to making Ghana among the wealthier nations in West Africa. While its economy is one of the most successful in the region, it remains heavily dependent on international finance.
Economic Index
GDP (current US$) – Ghana
77,594,279.05
GDP, PPP (current international $) – Ghana
196,050,132.52
GDP per capita, PPP (current international $) – Ghana
6,178.3
GDP per capita (current US$) – Ghana
2,445.3
Gini index – Ghana
43.5
Inflation, consumer prices (annual %) – Ghana
10.0
Social Media Stats in Ghana
Facebook = 58.33%
YouTube = 16.6%
Twitter = 12.21%
Pinterest = 7.7%
Instagram = 4.54%
LinkedIn = 0.3%
Standards
Ghana uses 220V and for electricity and the metric system of measurement.
The Ghana Standards Authority (GSA), formerly known as the Ghana Standards Board, is responsible for developing and promulgating standards as well as ensuring that the quality of goods imported into Ghana meets acceptable standards. The Ghana Food and Drugs Authority (FDA) also regulates and certifies food, drugs, cosmetics and other products that have health implications for consumers. This arrangement involves some overlap between the two bodies, a situation which the government of Ghana (Ministry of Trade and Industry) is attempting to resolve.
Import Tariffs
Ghana currently uses the harmonized System (HS) Customs Code to classify goods. Tariffs are based on value (ad valorem) or weight or volume (specific) and are subject to change. Most goods, unless they are totally exempt from customs duties, are subject to an important duty, Value Added Tax (VAT), and certain other fees and charges. The import duty is assessed on the Cost Insurance Freight (CIF) value of the good. The VAT and other fees and charges are assessed on CIF + Duty.
Consistent with the Economic Community of West African States (ECOWAS) common external tariff (CET), Ghana applies five tariff bands to products from the United States:
1. Zero percent duty on essential social goods (e.g., medicine)
2. 5 percent duty on essential commodities, raw materials, and capital goods
3. 10 percent duty on intermediate goods
4. 20 percent duty on consumer goods
5. 35 percent duty on certain goods that the Ghanaian Government elected to afford greater protection.
Imports are subject to a variety of fees and charges in addition to tariffs. Ghana imposes a 0.5 percent ECOWAS levy on all goods originating from non-ECOWAS countries, a 0.2 percent levy on imports from outside African Union (AU) Member States, and a 0.75 percent Export-Import Act fee on all non-petroleum products on all imports, except for machinery and equipment listed under Chapters 84 and 85 of the Harmonized Tariff System and some petroleum products and fertilizers.
