Economy - overview: Well endowed with natural resources, Ghana has roughly twice the per capita output of the poorer countries in West Africa. Even so, Ghana remains heavily dependent on international financial and technical assistance. Gold, timber, and cocoa production are major sources of foreign exchange. The domestic economy continues to revolve around subsistence agriculture, which accounts for 36% of GDP and employs 60% of the work force, mainly small landholders. Excessively expansionary monetary and fiscal policy prior to the 2000 elections led to accelerating inflation in early 2001. A depressed cocoa market and continued weak growth in non-traditional exports led to disappointing growth in 2001. Ghana opted for debt relief under the Heavily Indebted Poor Country (HIPC) program in 2002.
GDP: purchasing power parity - $39.4 billion (2001 est.)
GDP - real growth rate: 3% (2001 est.)
GDP - per capita: purchasing power parity - $1,980 (2001 est.)
GDP - composition by sector: agriculture: 36% industry: 25% services: 39% (2000 est.)
Population below poverty line: 31.4% (1992 est.)
Household income or consumption by percentage share: lowest 10%: 2.4% highest 10%: 29.5% (1998)
Distribution of family income - Gini index: 39.6 (1998)
Inflation rate (consumer prices): 25% (2001 est.)
Labor force: 9 million (2000 est.)