Forecast: Energy Productivity in Ghana

The analysis of energy productivity in Ghana, measured in US Dollars per Thousand of Total Primary Energy Supply, reveals a fluctuating trend over the past decade. In 2023, the energy productivity stood at 14.32. From 2013 to 2017, the value reflected modest year-on-year increases, peaking in 2017 with significant gains. However, from 2018 onwards, a general decline set in, with consistent drops year-on-year, particularly noticeable post-2020. Over the last two years, the declines were -3.15% and -3.16%, with a five-year CAGR declining at -2.48%. Forecasts indicate this downward trajectory will persist, with an estimated five-year CAGR of -2.56% and a growth rate of -12.17% by 2028.

Future trends to watch for in Ghana's energy productivity include the impact of renewable energy initiatives, technological advancements in energy efficiency, and economic factors influencing energy consumption and output. Policymakers should consider interventions to counteract the declining trend and enhance sustainable energy practices.