Ghana economy shows stability amid ongoing challenges
Ghana’s currency gained 37 percent against the dollar this year after the central bank tightened fiscal controls and improved foreign exchange management. Commercial banks quote rates between 10.70 and 10.85 cedis per dollar while retail exchanges charge approximately 10.95 cedis.
Producer price inflation fell to 3.2 percent in September from above 30 percent a year earlier. Mining costs rose to 5 percent and manufacturing prices climbed to 1.7 percent. Transport expenses fell 8.2 percent.
Job advertisements declined 10.4 percent compared with last year, though formal sector pension contributors increased 3.5 percent to reach 1,089,965 workers in July. Airport passenger arrivals decreased 8.5 percent annually but grew 3 percent from June.
Informal cross-border commerce totaled 7.4 billion cedis in the fourth quarter of 2024, representing 4.3 percent of national trade volume. Government statisticians recommended supporting rather than suppressing unregistered transactions with neighboring countries.
