Private credit by deposit money banks and other financial in Ghana
Ghana: Private credit by deposit money banks and other financial was 10.3% in 2021. ◆ Volatile
Private credit by deposit money banks and other financial in Ghana, 1960–2021
Source: International Financial Statistics (IFS), International Monetary Fund (IMF). Measured in %.
Analysis
In 2021, private credit by deposit money banks and other financial in Ghana stood at 10.3%.
The figure is down 15.8% on the previous year and down 37.9% over ten years.
Over the whole period, private credit by deposit money banks and other financial in Ghana peaked at 17.6% in 2009 and was at its lowest, 1.1%, in 1979.
That places Ghana 171st out of 187 countries with data for 2021, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Private credit by deposit money banks and other financial in Ghana, year by year
| Year | % | Change |
|---|---|---|
| 1960 | 4.6% | — |
| 1961 | 5.8% | +27.6% |
| 1962 | 1.6% | -72.7% |
| 1963 | 3.2% | +103.3% |
| 1964 | 2.9% | -11.0% |
| 1965 | 3.3% | +13.4% |
| 1966 | 3.0% | -9.4% |
| 1967 | 3.0% | -0.1% |
| 1968 | 3.3% | +12.6% |
| 1969 | 3.7% | +10.2% |
| 1970 | 3.4% | -8.1% |
| 1971 | 5.1% | +52.3% |
| 1972 | 4.1% | -19.7% |
| 1973 | 2.2% | -47.1% |
| 1974 | 2.3% | +6.2% |
| 1975 | 2.4% | +1.9% |
| 1976 | 2.3% | -1.0% |
| 1977 | 2.0% | -12.3% |
| 1978 | 1.4% | -29.8% |
| 1979 | 1.1% | -20.0% |
| 1980 | 2.2% | +90.7% |
| 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 | 9.2% | +12.3% |
| 1999 | 12.4% | +34.8% |
| 2000 | 13.8% | +11.4% |
| 2001 | 11.7% | -15.2% |
| 2002 | 11.9% | +1.5% |
| 2003 | 11.7% | -1.4% |
| 2004 | 13.0% | +10.5% |
| 2005 | 15.4% | +19.0% |
| 2006 | 11.0% | -28.6% |
| 2007 | 14.4% | +30.8% |
| 2008 | 12.6% | -12.9% |
| 2009 | 17.6% | +40.3% |
| 2010 | 16.0% | -9.5% |
| 2011 | 16.5% | +3.6% |
| 2012 | 17.2% | +3.8% |
| 2013 | 14.6% | -14.7% |
| 2014 | 16.1% | +9.8% |
| 2015 | 17.4% | +8.4% |
| 2016 | 17.1% | -2.1% |
| 2017 | 15.7% | -8.2% |
| 2018 | 13.2% | -15.4% |
| 2019 | 13.4% | +1.3% |
| 2020 | 12.2% | -9.2% |
| 2021 | 10.3% | -15.8% |
Ghana compared with similar countries
- Ghana's 10.3% is below the median for lower middle income countries, which is 24.6%, 42% of the median. (46 countries reporting)
- Ghana's 10.3% is below the median for Sub-Saharan Africa, which is 15.4%, 67% of the median. (47 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 3.4% | 1.6% | 5.8% | 10 |
| 1970s | 2.6% | 1.1% | 5.1% | 10 |
| 1980s | 2.8% | 1.5% | 5.8% | 10 |
| 1990s | 6.4% | 3.7% | 12.4% | 10 |
| 2000s | 13.3% | 11.0% | 17.6% | 10 |
| 2010s | 15.7% | 13.2% | 17.4% | 10 |
| 2020s | 11.2% | 10.3% | 12.2% | 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 private credit by deposit money banks and other financial in Ghana?
- Private credit by deposit money banks and other financial in Ghana was 10.3% in 2021, according to International Financial Statistics (IFS), International Monetary Fund (IMF).
- What is the highest private credit by deposit money banks and other financial recorded in Ghana?
- The highest recorded value was 17.6% in 2009.
- What is the lowest private credit by deposit money banks and other financial recorded in Ghana?
- The lowest recorded value was 1.1% in 1979.
- How does Ghana rank for private credit by deposit money banks and other financial?
- Ghana ranks 171st out of 187 countries with data for 2021.
- Is private credit by deposit money banks and other financial rising or falling in Ghana?
- Over the last ten years it is down 37.9%. The long-run trend across the full record is volatile.
- Where does this Ghana data come from?
- The figures come from International Financial Statistics (IFS), International Monetary Fund (IMF), published as part of Private credit by deposit money banks and other financial institutions to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Private credit by deposit money banks and other financial institutions to GDP, calculated using the following deflation method: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is credit to the private sector, 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. Private credit by deposit money banks and other financial institutions (IFS lines 22d and 42d); 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)