Gross savings in Ghana
Ghana: Gross savings was 12.4% in 2024. ▲ Rising
Gross savings in Ghana, 1975–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
The most recent figure for gross savings in Ghana is 12.4%, measured in 2024.
The figure is up 34.3% on the previous year and down 32.1% over ten years.
Over the whole period, gross savings in Ghana peaked at 22.9% in 2004 and was at its lowest, 3.9%, in 2011.
Ghana ranks 152nd of 177 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 50 years of available data.
Gross savings in Ghana, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1975 | 14.4% | — |
| 1976 | 8.8% | -39.3% |
| 1977 | 11.5% | +31.0% |
| 1978 | 5.4% | -52.9% |
| 1979 | 8.3% | +52.6% |
| 1980 | 6.3% | -23.4% |
| 1981 | 5.7% | -9.8% |
| 1982 | 5.6% | -2.6% |
| 1983 | 4.3% | -23.4% |
| 1984 | 6.7% | +58.5% |
| 1985 | 8.0% | +19.1% |
| 1986 | 6.9% | -13.8% |
| 1987 | 7.6% | +9.3% |
| 1988 | 10.0% | +31.6% |
| 1989 | 11.4% | +14.5% |
| 1990 | 10.5% | -7.6% |
| 1991 | 11.9% | +12.6% |
| 1992 | 6.9% | -41.6% |
| 1993 | 12.8% | +85.2% |
| 1994 | 19.1% | +48.6% |
| 1995 | 17.6% | -7.6% |
| 1996 | 18.1% | +2.7% |
| 1997 | 10.4% | -42.5% |
| 1998 | 18.0% | +73.2% |
| 1999 | 9.4% | -48.1% |
| 2000 | 15.3% | +63.0% |
| 2001 | 21.1% | +38.2% |
| 2002 | 18.8% | -11.1% |
| 2003 | 21.2% | +12.8% |
| 2004 | 22.9% | +8.1% |
| 2005 | 19.2% | -16.0% |
| 2006 | 17.4% | -9.3% |
| 2007 | 6.7% | -61.3% |
| 2008 | 4.3% | -35.6% |
| 2009 | 11.0% | +154.2% |
| 2010 | 4.9% | -55.9% |
| 2011 | 3.9% | -20.3% |
| 2012 | 5.3% | +35.7% |
| 2013 | 15.2% | +188.4% |
| 2014 | 18.2% | +20.0% |
| 2015 | 21.1% | +15.7% |
| 2016 | 18.6% | -11.7% |
| 2017 | 15.9% | -14.9% |
| 2018 | 20.0% | +26.1% |
| 2019 | 17.6% | -12.1% |
| 2020 | 15.2% | -13.7% |
| 2021 | 13.1% | -13.4% |
| 2022 | 13.5% | +2.8% |
| 2023 | 9.2% | -31.7% |
| 2024 | 12.4% | +34.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 9.7% | 5.4% | 14.4% | 5 |
| 1980s | 7.2% | 4.3% | 11.4% | 10 |
| 1990s | 13.5% | 6.9% | 19.1% | 10 |
| 2000s | 15.8% | 4.3% | 22.9% | 10 |
| 2010s | 14.1% | 3.9% | 21.1% | 10 |
| 2020s | 12.7% | 9.2% | 15.2% | 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)
- Manufacturing, value added (constant LCU), per capita 649.98 constant LCU per person (2025)
- Industry (including construction), value added (current US$), annual 37.37 % change on previous year (2025)
- Industry (including construction), value added (current US$), per 0.2925 current US$ per US$ of GDP (2025)
- Industry (including construction), value added (current US$), per 952.81 current US$ per person (2025)
- Industry (including construction), value added (current LCU), annual 21.47 % change on previous year (2025)
- Industry (including construction), value added (current LCU), per 3.67 current LCU per US$ of GDP (2025)
- Industry (including construction), value added (current LCU), per 11,964 current LCU per person (2025)
- Industry (including construction), value added (constant 2015 US$) 2.3 % change on previous year (2025)
Frequently asked questions
- What is gross savings in Ghana?
- Gross savings in Ghana was 12.4% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross savings recorded in Ghana?
- The highest recorded value was 22.9% in 2004.
- What is the lowest gross savings recorded in Ghana?
- The lowest recorded value was 3.9% in 2011.
- How does Ghana rank for gross savings?
- Ghana ranks 152nd out of 177 countries with data for 2024.
- Is gross savings rising or falling in Ghana?
- Over the last ten years it is down 32.1%. The long-run trend across the full record is rising.
- Where does this Ghana data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Gross savings (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Savings is an amount that represents the part of disposable income (adjusted for the change in pension entitlements) that is not spent on final consumption. Gross savings are calculated as gross national income less total consumption, plus net transfers. 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.