Gross domestic savings in Ghana
Ghana: Gross domestic savings was 12.2% in 2024. ◆ Volatile
Gross domestic savings in Ghana, 1960–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
Ghana recorded 12.2% for gross domestic savings in 2024.
That represents a change of up 31.8% on the previous year and down 38.2% over ten years.
Over the whole period, gross domestic savings in Ghana peaked at 20.7% in 2018 and was at its lowest, -3.0%, in 2008.
Ghana ranks 133rd of 188 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic savings in Ghana, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 17.1% | — |
| 1961 | 9.8% | -42.9% |
| 1962 | 12.9% | +31.5% |
| 1963 | 12.5% | -3.2% |
| 1964 | 15.5% | +24.7% |
| 1965 | 8.3% | -46.9% |
| 1966 | 7.8% | -5.0% |
| 1967 | 7.8% | -0.8% |
| 1968 | 10.6% | +36.9% |
| 1969 | 11.2% | +5.1% |
| 1970 | 12.8% | +14.3% |
| 1971 | 9.6% | -24.6% |
| 1972 | 12.6% | +30.5% |
| 1973 | 14.1% | +12.0% |
| 1974 | 9.6% | -32.0% |
| 1975 | 13.6% | +42.6% |
| 1976 | 8.5% | -37.5% |
| 1977 | 10.0% | +17.2% |
| 1978 | 4.0% | -59.6% |
| 1979 | 6.6% | +63.3% |
| 1980 | 4.9% | -25.3% |
| 1981 | 4.0% | -18.8% |
| 1982 | 3.7% | -6.8% |
| 1983 | 3.3% | -11.2% |
| 1984 | 4.2% | +25.1% |
| 1985 | 6.6% | +59.9% |
| 1986 | 5.8% | -12.5% |
| 1987 | 3.9% | -32.6% |
| 1988 | 5.4% | +38.5% |
| 1989 | 5.6% | +3.5% |
| 1990 | 5.5% | -2.4% |
| 1991 | 7.3% | +33.7% |
| 1992 | 1.3% | -82.8% |
| 1993 | 6.0% | +380.7% |
| 1994 | 12.5% | +105.9% |
| 1995 | 11.6% | -6.9% |
| 1996 | 13.2% | +14.0% |
| 1997 | 4.2% | -68.0% |
| 1998 | 10.3% | +142.7% |
| 1999 | 3.5% | -66.3% |
| 2000 | 5.6% | +60.9% |
| 2001 | 7.0% | +26.4% |
| 2002 | 7.4% | +6.0% |
| 2003 | 7.0% | -5.8% |
| 2004 | 7.3% | +4.4% |
| 2005 | 3.7% | -49.0% |
| 2006 | 9.4% | +151.7% |
| 2007 | -0.9% | -109.8% |
| 2008 | -3.0% | +222.2% |
| 2009 | 3.4% | -215.4% |
| 2010 | -0.7% | -120.0% |
| 2011 | 0.4% | -156.8% |
| 2012 | 4.5% | +1065.2% |
| 2013 | 14.9% | +229.7% |
| 2014 | 19.8% | +32.9% |
| 2015 | 18.9% | -4.8% |
| 2016 | 20.0% | +5.9% |
| 2017 | 16.8% | -16.0% |
| 2018 | 20.7% | +23.2% |
| 2019 | 16.7% | -19.1% |
| 2020 | 14.7% | -12.1% |
| 2021 | 14.4% | -1.8% |
| 2022 | 15.6% | +8.2% |
| 2023 | 9.3% | -40.7% |
| 2024 | 12.2% | +31.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 11.4% | 7.8% | 17.1% | 10 |
| 1970s | 10.2% | 4.0% | 14.1% | 10 |
| 1980s | 4.8% | 3.3% | 6.6% | 10 |
| 1990s | 7.5% | 1.3% | 13.2% | 10 |
| 2000s | 4.7% | -3.0% | 9.4% | 10 |
| 2010s | 13.2% | -0.7% | 20.7% | 10 |
| 2020s | 13.3% | 9.3% | 15.6% | 5 |
Countries ranked near Ghana
More economy & growth data for Ghana
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 3.15 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 5 Percent per annum (2029)
- Households and NPISHs Final consumption expenditure (current LCU) 29.71 % change on previous year (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 11.78 current LCU per US$ of GDP (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 28,507 current LCU per person (2024)
- Households and NPISHs Final consumption expenditure (constant 2015) 4.47 % change on previous year (2024)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.7144 constant 2015 US$ per US$ of GDP (2024)
- Households and NPISHs Final consumption expenditure (constant 2015) 1,728 constant 2015 US$ per person (2024)
- Final consumption expenditure (current US$), annual growth rate 0.0397 % change on previous year (2024)
- Final consumption expenditure (current US$), per unit of GDP 0.8778 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is gross domestic savings in Ghana?
- Gross domestic savings in Ghana was 12.2% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gross domestic savings recorded in Ghana?
- The highest recorded value was 20.7% in 2018.
- What is the lowest gross domestic savings recorded in Ghana?
- The lowest recorded value was -3.0% in 2008.
- How does Ghana rank for gross domestic savings?
- Ghana ranks 133rd out of 188 countries with data for 2024.
- Is gross domestic savings rising or falling in Ghana?
- Over the last ten years it is down 38.2%. The long-run trend across the full record is volatile.
- Where does this Ghana data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Gross domestic savings (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Gross domestic savings are calculated as GDP less final consumption expenditure (total consumption). This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.