Financial system deposits to GDP in Ghana
Ghana: Financial system deposits to GDP was 23.9% in 2021. ◆ Volatile
Financial system deposits to GDP in Ghana, 1960–2021
Source: International Financial Statistics (IFS), International Monetary Fund (IMF). Measured in %.
Analysis
The most recent figure for financial system deposits to gdp in Ghana is 23.9%, measured in 2021.
That represents a change of down 12.2% on the previous year and down 10.8% over ten years.
Over the whole period, financial system deposits to gdp in Ghana peaked at 27.3% in 2020 and was at its lowest, 2.7%, in 1962.
Ghana ranks 156th of 185 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Financial system deposits to GDP in Ghana, year by year
| Year | % | Change |
|---|---|---|
| 1960 | 8.4% | — |
| 1961 | 9.3% | +11.2% |
| 1962 | 2.7% | -70.9% |
| 1963 | 4.5% | +66.8% |
| 1964 | 5.4% | +18.3% |
| 1965 | 4.7% | -11.5% |
| 1966 | 4.6% | -3.9% |
| 1967 | 5.2% | +13.2% |
| 1968 | 5.1% | -1.2% |
| 1969 | 4.7% | -7.9% |
| 1970 | 4.9% | +4.6% |
| 1971 | 5.1% | +3.7% |
| 1972 | 6.2% | +21.2% |
| 1973 | 6.1% | -1.8% |
| 1974 | 5.5% | -9.5% |
| 1975 | 6.7% | +22.6% |
| 1976 | 7.0% | +3.8% |
| 1977 | 6.5% | -7.4% |
| 1978 | 5.4% | -16.1% |
| 1979 | 4.5% | -16.5% |
| 1980 | 9.2% | +103.7% |
| 1981 | 8.2% | -11.6% |
| 1982 | 8.9% | +8.9% |
| 1983 | 5.2% | -41.5% |
| 1984 | 5.1% | -1.2% |
| 1985 | 6.3% | +22.9% |
| 1986 | 6.2% | -1.8% |
| 1987 | 6.3% | +1.6% |
| 1988 | 6.2% | -1.2% |
| 1989 | 10.3% | +66.2% |
| 1990 | 9.2% | -11.4% |
| 1991 | 11.3% | +23.3% |
| 1992 | 13.9% | +23.1% |
| 1993 | 14.0% | +0.7% |
| 1994 | 15.4% | +9.7% |
| 1995 | 14.5% | -5.6% |
| 1996 | 14.1% | -2.5% |
| 1997 | 16.8% | +19.1% |
| 1998 | 16.0% | -4.6% |
| 1999 | 15.7% | -2.4% |
| 2000 | 16.4% | +4.6% |
| 2001 | 18.2% | +11.1% |
| 2002 | 21.0% | +15.1% |
| 2003 | 20.5% | -2.3% |
| 2004 | 22.0% | +7.2% |
| 2005 | 20.4% | -7.1% |
| 2006 | 15.8% | -22.4% |
| 2007 | 19.8% | +25.2% |
| 2008 | 22.6% | +14.1% |
| 2009 | 24.9% | +10.0% |
| 2010 | 25.8% | +3.6% |
| 2011 | 26.8% | +3.9% |
| 2012 | 26.6% | -0.8% |
| 2013 | 20.2% | -24.1% |
| 2014 | 22.2% | +9.8% |
| 2015 | 24.3% | +9.6% |
| 2016 | 25.3% | +3.9% |
| 2017 | 24.9% | -1.5% |
| 2018 | 24.3% | -2.2% |
| 2019 | 24.3% | -0.0% |
| 2020 | 27.3% | +12.0% |
| 2021 | 23.9% | -12.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 5.5% | 2.7% | 9.3% | 10 |
| 1970s | 5.8% | 4.5% | 7.0% | 10 |
| 1980s | 7.2% | 5.1% | 10.3% | 10 |
| 1990s | 14.1% | 9.2% | 16.8% | 10 |
| 2000s | 20.2% | 15.8% | 24.9% | 10 |
| 2010s | 24.5% | 20.2% | 26.8% | 10 |
| 2020s | 25.6% | 23.9% | 27.3% | 2 |
Countries ranked near Ghana
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 financial system deposits to gdp in Ghana?
- Financial system deposits to gdp in Ghana was 23.9% in 2021, according to International Financial Statistics (IFS), International Monetary Fund (IMF).
- What is the highest financial system deposits to gdp recorded in Ghana?
- The highest recorded value was 27.3% in 2020.
- What is the lowest financial system deposits to gdp recorded in Ghana?
- The lowest recorded value was 2.7% in 1962.
- How does Ghana rank for financial system deposits to gdp?
- Ghana ranks 156th out of 185 countries with data for 2021.
- Is financial system deposits to gdp rising or falling in Ghana?
- Over the last ten years it is down 10.8%. The long-run trend across the full record is volatile.
- Where does this Ghana data come from?
- The figures come from International Financial Statistics (IFS), International Monetary Fund (IMF), published as part of Financial system deposits to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Demand, time and saving deposits in deposit money banks and other financial institutions as a share of GDP, calculated using the following deflation method: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is demand and time and saving deposits, P_e is end-of period CPI, and P_a is average annual CPI. Raw data are from the electronic version of the IMF’s International Financial Statistics. Financial system deposits (IFS lines 24, 25, 44, and 45); GDP in local currency (IFS line 99B..ZF or, if not available, line 99B.CZF); end-of period CPI (IFS line 64M..ZF or, if not available, 64Q..ZF); and average annual CPI is calculated using the monthly CPI values (IFS line 64M..ZF).