West Africa: Ghana’s share of sub-region’s total GDP pegged at 25.7%
Ghana’s share of the West African sub-region’s total nominal Gross Domestic Product (GDP) has been pegged at 25.7 percentage points.
Ghana’s percentage share of the sub-region’s GDP makes it the second largest economy in the region after African economic giant, Nigeria, which accounted for 72 percent of the region’s total value of real GDP for the period between 2014 and 2020.
Closely behind Ghana is the Ivory Coast with a 24.9 percent of share of the region’s total nominal GDP.
However, with regards to GDP growth rates among countries in the sub-region – particularly for the period between 2014 and 2020 – Ghana was ranked the 9th fastest growing economy with an average GDP growth rate of 4.5 percent.
Ivory Coast, Guinea and Benin were ranked first, second and third in the sub-region with average GDP growth rates of 7.3 percent, 7 percent and 6.5 percent respectively.
In the “Why Africa” report recently launched by the Dubai Chamber of Commerce and Industry, the Chamber ranks the West African sub-region as the second largest region in terms of total real GDP with average GDP value of about $709.2 billion.
In first place is Northern Africa with an average GDP value of $780.91 billion equivalent to 32% of the continent’s average value of GDP of $2.4 trillion.
Related Story: Ghana accounts for 36.4% of total FDI to West Africa – Dubai Chamber report
Meanwhile, the report also indicates that Ghana accounts for 36.4 percent of all Foreign Direct Inflows (FDI) to the West African region.
Per the report, Ghana comes second to Nigeria which accounts for over 47 percent of total FDI inflows into the region making it the most attractive destination for FDI inflows.
In third and fourth places are Ivory Coast and Mauritania accounting for 10.6 percent and 8.7 percent of total FDI inflows to the sub-region respectively.
The launch of the Why Africa report by the Dubai Chamber is in the lead up to the Global Business Forum (GBF) Africa 2021, which takes place October 13-14 on the side-lines of Expo 2020 Dubai.
