Ghana's road transport-related tax revenue has shown significant variations over the past decade. Starting with strong growth in 2016, where the year-on-year variation was 150.36%, the revenue streak continued to trend upward albeit at a decelerating rate. By 2023, revenues stood at 44.56 units of environmental tax revenue, marking a 5.17% increase from 2022. Over the past five years, the compounded annual growth rate (CAGR) was 5.88%.
Future trends indicate a moderate yet steady increase in revenues, with forecasts projecting to reach 54.89 units by 2028. The CAGR for the next five years is expected to be 3.28%, contributing to a cumulative growth rate of 17.51% over this period.
Key future trends to watch for include: - Potential economic shifts impacting vehicle imports and usage. - Legislative changes in environmental taxes. - Advancements in vehicle technology and infrastructure investments.
