Monetary Sector credit to private sector in Ghana
Ghana: Monetary Sector credit to private sector was 8.9% in 2024. ◆ Volatile
Monetary Sector credit to private sector in Ghana, 1960–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % GDP.
Analysis
In 2024, monetary sector credit to private sector in Ghana stood at 8.9%.
That represents a change of down 5.5% on the previous year and down 45.9% over ten years.
Over the whole period, monetary sector credit to private sector in Ghana peaked at 18.1% in 2012 and was at its lowest, 1.5%, in 1983.
Ghana ranks 172nd of 186 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Monetary Sector credit to private sector in Ghana, year by year
| Year | % GDP | Change |
|---|---|---|
| 1960 | 4.6% | — |
| 1961 | 5.8% | +27.6% |
| 1962 | 6.2% | +6.0% |
| 1963 | 7.6% | +22.7% |
| 1964 | 7.0% | -8.2% |
| 1965 | 8.5% | +22.4% |
| 1966 | 8.5% | -0.8% |
| 1967 | 7.6% | -10.5% |
| 1968 | 8.7% | +14.4% |
| 1969 | 9.2% | +6.4% |
| 1970 | 8.3% | -10.4% |
| 1971 | 12.6% | +52.5% |
| 1972 | 10.1% | -20.1% |
| 1973 | 5.3% | -46.9% |
| 1974 | 5.7% | +6.2% |
| 1975 | 5.8% | +1.9% |
| 1976 | 5.9% | +2.0% |
| 1977 | 5.0% | -15.0% |
| 1978 | 3.5% | -29.8% |
| 1979 | 2.8% | -19.9% |
| 1980 | 2.2% | -22.2% |
| 1981 | 1.8% | -15.7% |
| 1982 | 1.8% | -2.4% |
| 1983 | 1.5% | -14.4% |
| 1984 | 2.2% | +43.3% |
| 1985 | 3.1% | +40.7% |
| 1986 | 3.6% | +16.7% |
| 1987 | 3.2% | -13.1% |
| 1988 | 3.1% | -0.5% |
| 1989 | 5.8% | +86.2% |
| 1990 | 4.9% | -15.7% |
| 1991 | 3.7% | -25.8% |
| 1992 | 4.9% | +35.1% |
| 1993 | 4.8% | -2.1% |
| 1994 | 5.3% | +8.5% |
| 1995 | 5.1% | -3.4% |
| 1996 | 6.0% | +18.4% |
| 1997 | 8.2% | +36.5% |
| 1998 | 9.4% | +14.2% |
| 1999 | 12.6% | +34.2% |
| 2000 | 14.0% | +11.2% |
| 2001 | 11.9% | -14.9% |
| 2002 | 12.1% | +2.2% |
| 2003 | 12.5% | +2.8% |
| 2004 | 13.2% | +5.4% |
| 2005 | 15.5% | +18.0% |
| 2006 | 10.9% | -30.1% |
| 2007 | 14.5% | +33.4% |
| 2008 | 12.6% | -12.9% |
| 2009 | 17.7% | +40.6% |
| 2010 | 16.7% | -6.1% |
| 2011 | 17.2% | +3.2% |
| 2012 | 18.1% | +5.1% |
| 2013 | 15.3% | -15.4% |
| 2014 | 16.5% | +7.9% |
| 2015 | 17.9% | +8.7% |
| 2016 | 17.4% | -2.8% |
| 2017 | 16.1% | -7.7% |
| 2018 | 13.7% | -14.8% |
| 2019 | 13.9% | +1.6% |
| 2020 | 13.1% | -6.3% |
| 2021 | 13.1% | -0.0% |
| 2022 | 13.3% | +1.8% |
| 2023 | 9.4% | -28.9% |
| 2024 | 8.9% | -5.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 7.4% | 4.6% | 9.2% | 10 |
| 1970s | 6.5% | 2.8% | 12.6% | 10 |
| 1980s | 2.8% | 1.5% | 5.8% | 10 |
| 1990s | 6.5% | 3.7% | 12.6% | 10 |
| 2000s | 13.5% | 10.9% | 17.7% | 10 |
| 2010s | 16.3% | 13.7% | 18.1% | 10 |
| 2020s | 11.6% | 8.9% | 13.3% | 5 |
Countries ranked near Ghana
More financial sector data for Ghana
- Total reserves in months of imports, annual growth rate 13.18 % change on previous year (2024)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2024)
- Total reserves in months of imports, per capita 0 units per person (2024)
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 53.45 % change on previous year (2024)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.04 SDR per US$ of GDP (2024)
- Reserves excluding gold, foreign exchange (SDR), per capita 96.88 SDR per person (2024)
- Reserves excluding gold (SDR), annual growth rate 51.14 % change on previous year (2024)
- Reserves excluding gold (SDR), per capita 99.61 SDR per person (2024)
- Total reserves (gold at market value) (SDR), annual growth rate 26.97 % change on previous year (2024)
- Total reserves (gold at market value) (SDR), per capita 99.61 SDR per person (2024)
Frequently asked questions
- What is monetary sector credit to private sector in Ghana?
- Monetary sector credit to private sector in Ghana was 8.9% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest monetary sector credit to private sector recorded in Ghana?
- The highest recorded value was 18.1% in 2012.
- What is the lowest monetary sector credit to private sector recorded in Ghana?
- The lowest recorded value was 1.5% in 1983.
- How does Ghana rank for monetary sector credit to private sector?
- Ghana ranks 172nd out of 186 countries with data for 2024.
- Is monetary sector credit to private sector rising or falling in Ghana?
- Over the last ten years it is down 45.9%. 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 Monetary Sector credit to private sector (% GDP). Statizoid updates them automatically from the source API.
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About this data
Domestic credit to private sector refers to financial resources provided to the private sector, such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.