Broad money growth in Ghana
Ghana: Broad money growth was 33.0% in 2024. ◆ Volatile
Broad money growth in Ghana, 1961–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in annual %.
Analysis
Ghana recorded 33.0% for broad money growth in 2024.
That represents a change of down 11.9% on the previous year and down 11.6% over ten years.
Over the whole period, broad money growth in Ghana peaked at 68.5% in 1978 and was at its lowest, 1.2%, in 1967.
Ghana ranks 16th of 166 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Broad money growth in Ghana, year by year
| Year | annual % | Change |
|---|---|---|
| 1961 | 8.8% | — |
| 1962 | 15.2% | +72.1% |
| 1963 | 7.3% | -52.0% |
| 1964 | 37.1% | +409.5% |
| 1965 | 1.9% | -94.8% |
| 1966 | 4.9% | +154.7% |
| 1967 | 1.2% | -74.9% |
| 1968 | 10.2% | +726.3% |
| 1969 | 10.4% | +2.5% |
| 1970 | 10.0% | -4.7% |
| 1971 | 11.1% | +11.8% |
| 1972 | 40.7% | +265.5% |
| 1973 | 18.8% | -53.6% |
| 1974 | 26.7% | +41.4% |
| 1975 | 37.9% | +42.2% |
| 1976 | 37.1% | -2.2% |
| 1977 | 60.3% | +62.7% |
| 1978 | 68.5% | +13.6% |
| 1979 | 15.8% | -77.0% |
| 1980 | 33.8% | +114.4% |
| 1981 | 51.3% | +51.8% |
| 1982 | 23.3% | -54.5% |
| 1983 | 40.2% | +72.2% |
| 1984 | 53.6% | +33.4% |
| 1985 | 46.2% | -13.9% |
| 1986 | 47.9% | +3.8% |
| 1987 | 53.3% | +11.3% |
| 1988 | 46.3% | -13.2% |
| 1989 | 54.7% | +18.1% |
| 1990 | 13.3% | -75.7% |
| 1991 | 39.1% | +193.8% |
| 1992 | 52.3% | +33.8% |
| 1993 | 33.5% | -35.9% |
| 1994 | 52.6% | +56.9% |
| 1995 | 43.2% | -17.9% |
| 1996 | 39.2% | -9.2% |
| 1997 | 44.1% | +12.5% |
| 1998 | 17.5% | -60.3% |
| 1999 | 25.4% | +45.3% |
| 2000 | 54.2% | +113.4% |
| 2001 | 56.5% | +4.2% |
| 2002 | 39.2% | -30.6% |
| 2003 | 23.2% | -40.7% |
| 2004 | 27.3% | +17.4% |
| 2005 | 19.5% | -28.6% |
| 2006 | 39.3% | +102.1% |
| 2007 | 36.8% | -6.4% |
| 2008 | 39.2% | +6.4% |
| 2009 | 24.7% | -36.9% |
| 2010 | 31.9% | +29.0% |
| 2011 | 34.0% | +6.5% |
| 2012 | 25.1% | -26.1% |
| 2013 | 19.5% | -22.4% |
| 2014 | 37.3% | +91.2% |
| 2015 | 25.6% | -31.4% |
| 2016 | 22.5% | -12.0% |
| 2017 | 16.1% | -28.6% |
| 2018 | 15.8% | -1.9% |
| 2019 | 21.4% | +35.5% |
| 2020 | 28.4% | +32.8% |
| 2021 | 21.3% | -24.9% |
| 2022 | 32.0% | +50.3% |
| 2023 | 37.4% | +16.8% |
| 2024 | 33.0% | -11.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 10.8% | 1.2% | 37.1% | 9 |
| 1970s | 32.7% | 10.0% | 68.5% | 10 |
| 1980s | 45.1% | 23.3% | 54.7% | 10 |
| 1990s | 36.0% | 13.3% | 52.6% | 10 |
| 2000s | 36.0% | 19.5% | 56.5% | 10 |
| 2010s | 24.9% | 15.8% | 37.3% | 10 |
| 2020s | 30.4% | 21.3% | 37.4% | 5 |
Countries ranked near Ghana
- 13 Uzbekistan 36.6% compare
- 14 Guinea 35.8% compare
- 15 Congo, Democratic Republic of the 34.8% compare
- 17 Kyrgyzstan 30.6% compare
- 18 Guyana 28.4% compare
- 19 Iran, Islamic Republic of 28.0% compare
More financial sector data for Ghana
- Net domestic credit (current LCU), per capita 7,823 current LCU per person (2024)
- Net domestic credit (current LCU), per unit of GDP 3.23 current LCU per US$ of GDP (2024)
- Net domestic credit (current LCU), annual growth rate 13.42 % change on previous year (2024)
- Gold reserves at 35 SDRs per ounce 9.84 million SDR (2023)
- Gold reserves at market value 431.95 million SDR (2023)
- Reserves excluding gold, foreign exchange 3.34 billion SDR (2024)
- Reserves excluding gold 3.43 billion SDR (2024)
- Total reserves (gold at market value) 3.43 billion SDR (2024)
- Total reserves (gold at national valuation) 5.36 billion SDR (2024)
- Total reserves (gold at national valuation) (SDR), per capita 155.67 SDR per person (2024)
Frequently asked questions
- What is broad money growth in Ghana?
- Broad money growth in Ghana was 33.0% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest broad money growth recorded in Ghana?
- The highest recorded value was 68.5% in 1978.
- What is the lowest broad money growth recorded in Ghana?
- The lowest recorded value was 1.2% in 1967.
- How does Ghana rank for broad money growth?
- Ghana ranks 16th out of 166 countries with data for 2024.
- Is broad money growth rising or falling in Ghana?
- Over the last ten years it is down 11.6%. The long-run trend across the full record is volatile.
- Where does this Ghana data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Broad money growth (annual %). Statizoid updates them automatically from the source API.
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About this data
Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.