Table of Contents
The economy of Ghana experienced a moderate growth during the last decade. The country is likely to experience good growth and reach an estimated $70.4 billion by 2018. The service and the manufacturing sectors are the two major contributors to Ghana’s GDP. Being the major source of income for the economy, the service sector made maximum contribution to the total GDP in 2012. In this sector, wholesale and retail, finance and insurance, information and communication, transport, and real estate and renting industries have emerged as the major contributors.
Lucintel, a leading global management consulting and market research firm, has conducted a detailed analysis on the political, economic, social, technological, legal, and environmental risks associated with the country and presents its findings in “PESTLE Analysis of Ghana 2013”. This report gives the insightful SWOT Analysis of Ghana. This report helps investors to easily understand the strengths, weaknesses, opportunities, and threats of Ghana’s economy.
Lucintel report also discusses the challenges that the economy is likely to face. In spite of its significance, Ghana is lagging behind the other African countries as well as other developed countries such as the US, both in R&D investment as well as a number of scientific researches. Ghana’s major environmental problems include water pollution, soil erosion, industrial pollution, and deforestation. These issues basically stem from poor farming practices, rapid urbanization, and steady rise of petroleum refining wastes.
The report also anticipates the key drivers. Geostrategic location of Ghana adds an edge to the economy. It is located in the Western Africa and provides easy access and proximity to potential markets such as ECOWAS (Economic Community of West African States). It helps in boosting international trade. Prudent fiscal policy management and effective monetary policy (low inflation rate, moderate foreign exchange reserves, and low interest rates) help in the growth of Ghana’s economy.
Although the country faces a deficit in its current account, significant capital and financial account surpluses make Ghana less vulnerable to a BOP crisis in near future. The balance of payment is expected to be surplus and encourage stability of the exchange rate in the country. This surplus is expected to be derived from significant capital account surplus which has been sufficient in the recent years to finance the current account deficit. In the coming years, BOP is further expected to witness a positive balance.
Strong financial ability has been one of the major strengths of the economy in the recent years. Despite the adverse effects of the European debt crisis, Ghana has been able to maintain significant amount of capital account surpluses. Exports and imports have been on the rise in recent years. Mining, financial, telecommunications, and business service are the key performing sectors in the economy. Nigeria, India, Britain, the US, Germany, and Mauritius are the leading sources of foreign investments in the country.
This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today’s stringent economy, you need every advantage that you can find.
Features of This Report:
To make business, investment, and strategic decisions, you need timely, useful information. This market report fulfills this core need and is an indispensable reference guide for multinational materials suppliers, product manufacturers, investors, executives, distributors, and many more that operate in this market.
Some of the features of “PESTLE Analysis of Ghana 2013” include:
- Trend and forecast for key macroeconomic variables that are useful to make major investment decision
- Analysis on economic activity, investment environment, and trade structure of the country
- Major industries in Ghana and its contribution to GPD
- Trends in savings, investments, and consumptions
- Analysis of Political, Economic, Social, Technological, Legal, and Environmental scenarios as well as their impact on different industries
- Analyses on geographical importance and social structure such as labor quality
- Strength, Weakness, Opportunity, and Threat (SWOT) analysis of Ghana
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