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PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
Ghana became the largest gold-producing country in Africa after overtaking South Africa in 2019. [28] The country is also the second-largest cocoa producer (after Ivory Coast). [29] Ghana is rich in diamonds, manganese or manganese ore, bauxite, and oil. Most of its debt was cancelled in 2005, but government spending was later allowed to balloon.
After German reunification, Ghana opened a new embassy in Berlin. In 2018, German Chancellor Angela Merkel made a state visit to Ghana to visit its head of state, Nana Akufo-Addo. The meeting focused on migration and deepening economic ties. Germany pledged development aid in the areas of infrastructure and energy.
Map of the Ghanaian regions by Human Development Index in 2017. ... 0.500 – 0.599 0.000 – 0.499. This is a list of regions of Ghana ... This page was last edited ...
Ghana was the world's leading producer of cocoa, boasted a well-developed infrastructure to service trade, and enjoyed a relatively advanced education system. [1] At independence, President Kwame Nkrumah sought to use the apparent stability of the Ghanaian economy as a springboard for economic diversification and expansion. [1]
Ghana possesses industrial minerals, hydrocarbons and precious metals. It is an emerging designated digital economy with mixed economy hybridisation and an emerging market. It has an economic plan target known as the "Ghana Vision 2020".
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
The foreign relations of Ghana are controlled by the Ministry of Foreign Affairs of Ghana.Ghana is active in the United Nations and many of its specialised agencies, the World Trade Organization, the Non-Aligned Movement, the Organisation of African Unity (OAU), the African Union (AU) and the Economic Community of West African States.