Short-term debt in Ghana
Ghana: Short-term debt was 9.1% in 2024. ▼ Falling
Short-term debt in Ghana, 1975–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of exports of goods, services and primary income.
Analysis
In 2024, short-term debt in Ghana stood at 9.1%.
The figure is down 39.3% on the previous year and down 54.5% over ten years.
Over the whole period, short-term debt in Ghana peaked at 42.0% in 1994 and was at its lowest, 0.3%, in 1976.
That places Ghana 75th out of 119 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 50 years of available data.
Short-term debt in Ghana, year by year
| Year | % of exports of goods, services and primary income | Change |
|---|---|---|
| 1975 | 0.6% | — |
| 1976 | 0.3% | -47.1% |
| 1977 | 22.0% | +6296.3% |
| 1978 | 36.8% | +67.3% |
| 1979 | 17.5% | -52.4% |
| 1980 | 10.8% | -38.4% |
| 1981 | 34.4% | +219.2% |
| 1982 | 29.1% | -15.4% |
| 1983 | 19.4% | -33.3% |
| 1984 | 39.7% | +104.1% |
| 1985 | 28.2% | -29.0% |
| 1986 | 23.5% | -16.6% |
| 1987 | 13.4% | -42.9% |
| 1988 | 8.2% | -39.2% |
| 1989 | 22.9% | +180.7% |
| 1990 | 33.7% | +47.3% |
| 1991 | 36.7% | +8.9% |
| 1992 | 36.8% | +0.3% |
| 1993 | 39.4% | +7.0% |
| 1994 | 42.0% | +6.5% |
| 1995 | 38.9% | -7.2% |
| 1996 | 37.3% | -4.1% |
| 1997 | 40.3% | +7.9% |
| 1998 | 28.2% | -30.0% |
| 1999 | 28.9% | +2.3% |
| 2000 | 21.6% | -25.3% |
| 2001 | 19.0% | -11.9% |
| 2002 | 24.6% | +29.7% |
| 2003 | 23.6% | -4.4% |
| 2004 | 16.0% | -32.3% |
| 2005 | 19.5% | +22.4% |
| 2006 | 22.8% | +16.7% |
| 2007 | 20.0% | -12.2% |
| 2008 | 15.7% | -21.4% |
| 2009 | 19.5% | +24.1% |
| 2010 | 22.0% | +12.8% |
| 2011 | 18.4% | -16.6% |
| 2012 | 15.5% | -15.9% |
| 2013 | 22.1% | +43.2% |
| 2014 | 19.9% | -10.0% |
| 2015 | 19.6% | -1.6% |
| 2016 | 15.8% | -19.6% |
| 2017 | 16.1% | +1.9% |
| 2018 | 15.8% | -1.6% |
| 2019 | 17.8% | +12.6% |
| 2020 | 22.7% | +27.4% |
| 2021 | 20.8% | -8.4% |
| 2022 | 17.6% | -15.4% |
| 2023 | 14.9% | -15.2% |
| 2024 | 9.1% | -39.3% |
Ghana compared with similar countries
- Ghana's 9.1% is below the median for lower middle income countries, which is 13.3%, 68% of the median. (43 countries reporting)
- Ghana's 9.1% is above the median for Sub-Saharan Africa, which is 9.1%, 1.0× the median. (43 countries reporting)
Biggest year-on-year movements
Years where Short-term debt in Ghana changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1977 | +6296.3% | 0.3% | 22.0% |
| 1981 | +219.2% | 10.8% | 34.4% |
| 1989 | +180.7% | 8.2% | 22.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 15.4% | 0.3% | 36.8% | 5 |
| 1980s | 23.0% | 8.2% | 39.7% | 10 |
| 1990s | 36.2% | 28.2% | 42.0% | 10 |
| 2000s | 20.2% | 15.7% | 24.6% | 10 |
| 2010s | 18.3% | 15.5% | 22.1% | 10 |
| 2020s | 17.0% | 9.1% | 22.7% | 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps 38.84 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0003 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 1.11 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 1.91 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 8.08 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0167 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 54.42 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 23.42 % change on previous year (2024)
Frequently asked questions
- What is short-term debt in Ghana?
- Short-term debt in Ghana was 9.1% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest short-term debt recorded in Ghana?
- The highest recorded value was 42.0% in 1994.
- What is the lowest short-term debt recorded in Ghana?
- The lowest recorded value was 0.3% in 1976.
- How does Ghana rank for short-term debt?
- Ghana ranks 75th out of 119 countries with data for 2024.
- Is short-term debt rising or falling in Ghana?
- Over the last ten years it is down 54.5%. The long-run trend across the full record is falling.
- Where does this Ghana data come from?
- The figures come from International Debt Statistics, World Bank (WB), published as part of Short-term debt (% of exports of goods, services and primary income). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 50 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Short-term external debt is defined as debt that has an original maturity of one year or less. Available data permit no distinction between public and private nonguaranteed short-term debt. Exports of goods, services and primary income is the sum of goods (merchandise) exports, exports of (nonfactor) services and income (factor) receipts.