Private credit by deposit money banks to GDP in Ghana
Ghana: Private credit by deposit money banks to GDP was 10.3% in 2021. ◆ Volatile
Private credit by deposit money banks to GDP in Ghana, 1960–2021
Source: International Financial Statistics (IFS), International Monetary Fund (IMF). Measured in %.
Analysis
Ghana recorded 10.3% for private credit by deposit money banks to gdp in 2021.
That represents a change of down 15.8% on the previous year and down 37.9% over ten years.
Over the whole period, private credit by deposit money banks to gdp 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 to GDP 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 22.2%, 46% 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
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0011 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 3.61 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 2.64 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0011 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 3.61 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is private credit by deposit money banks to gdp in Ghana?
- Private credit by deposit money banks to gdp 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 to gdp recorded in Ghana?
- The highest recorded value was 17.6% in 2009.
- What is the lowest private credit by deposit money banks to gdp recorded in Ghana?
- The lowest recorded value was 1.1% in 1979.
- How does Ghana rank for private credit by deposit money banks to gdp?
- Ghana ranks 171st out of 187 countries with data for 2021.
- Is private credit by deposit money banks to gdp 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 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 (IFS line 22d); 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).