Skip to content

Economy of Belarus vs Ghana compared: GDP & Debt

Updated on by Georank team

Belarus has a GDP of $76B compared to $82.3B for Ghana, ranking 83/197 and 80/197 by economy size, respectively.

Belarus has $30.3B in government debt (39.9% of GDP), compared to $57.9B (70.3% of GDP) in Ghana.

Belarus vs Ghana GDP by year

Belarus
Ghana
1x
Year GDP, current $
Belarus Ghana
2024 $75,961,865,472 $82,308,110,386
2023 $72,478,760,370 $80,547,146,878
2022 $73,775,179,925 $73,919,003,210
2021 $69,673,747,132 $79,514,204,730
2020 $61,371,673,345 $70,008,243,860
2019 $64,410,170,653 $68,352,629,246
2018 $60,031,026,576 $67,259,353,966
2017 $54,725,405,751 $60,385,409,435
2016 $47,723,545,321 $56,144,179,398
2015 $56,454,769,845 $49,436,806,230
2014 $78,813,069,121 $54,678,533,806
2013 $75,527,558,966 $62,845,721,960
2012 $65,685,890,439 $41,271,701,061
2011 $61,762,382,328 $39,336,668,081
2010 $57,231,904,543 $32,197,655,567
2009 $50,873,167,326 $26,048,720,006
2008 $60,752,106,347 $28,679,383,241
2007 $45,275,711,996 $24,827,339,138
2006 $36,961,894,281 $20,885,037,597
2005 $30,210,091,837 $10,744,568,381
2004 $23,141,566,293 $8,881,417,907
2003 $17,825,444,724 $7,632,723,556
2002 $14,594,900,945 $6,166,197,848
2001 $12,354,820,144 $5,314,872,854
2000 $12,736,856,828 $4,982,850,662
1999 $12,138,486,532 $7,718,109,982
1998 $15,222,012,660 $7,482,069,162
1997 $14,128,408,566 $6,891,443,192
1996 $14,500,437,520 $6,932,991,739
1995 $13,972,683,274 $6,464,382,808
1994 $14,931,435,232 $5,446,383,727
1993 $16,275,073,527 $5,968,922,939
1992 $16,939,790,094 $6,416,103,926
1991 $18,404,907,975 $6,603,185,268
1990 $17,389,558,233 $5,889,106,573
1989 - $5,251,858,440
1988 - $5,197,765,032
1987 - $5,074,829,932
1986 - $5,735,677,434
1985 - $4,504,306,723
1984 - $4,412,279,843
1983 - $4,057,275,132
1982 - $4,035,994,398
1981 - $4,222,441,860
1980 - $4,445,228,216
1979 - $4,020,227,920
1978 - $3,662,478,185
1977 - $3,189,428,571
1976 - $2,765,254,237
1975 - $2,810,106,383
1974 - $2,894,409,938
1973 - $3,006,766,758
1972 - $2,112,293,280
1971 - $2,417,108,578
1970 - $2,215,028,588
1969 - $1,962,050,556
1968 - $1,666,909,518
1967 - $1,747,187,645
1966 - $2,126,300,672
1965 - $2,053,462,968
1964 - $1,731,296,200
1963 - $1,540,797,589
1962 - $1,382,515,654
1961 - $1,302,674,325
1960 - $1,217,230,095

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/ghana | CC BY

GDP per capita in Belarus vs Ghana by year

Belarus
GDP per capita

GDP per capita, PPP
Ghana
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belarus Ghana
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $8,318 $33,010 $2,391 $8,020
2023 $7,897 $30,834 $2,384 $7,556
2022 $7,995 $28,429 $2,230 $7,208
2021 $7,490 $27,611 $2,445 $6,608
2020 $6,543 $24,872 $2,195 $6,047
2019 $6,838 $22,302 $2,187 $6,003
2018 $6,360 $20,026 $2,195 $5,536
2017 $5,786 $18,414 $2,012 $5,171
2016 $5,040 $17,832 $1,912 $5,011
2015 $5,967 $18,134 $1,723 $5,191
2014 $8,341 $19,038 $1,950 $5,517
2013 $7,998 $19,014 $2,295 $5,215
2012 $6,953 $18,115 $1,544 $4,934
2011 $6,528 $16,563 $1,507 $4,381
2010 $6,035 $15,339 $1,264 $3,855
2009 $5,352 $14,034 $1,048 $3,617
2008 $6,376 $13,886 $1,183 $3,516
2007 $4,735 $12,320 $1,050 $3,241
2006 $3,848 $10,995 $906 $3,103
2005 $3,126 $9,637 $479 $2,904
2004 $2,378 $8,483 $406 $2,729
2003 $1,820 $7,362 $358 $2,584
2002 $1,479 $6,697 $297.5 $2,475
2001 $1,244 $6,238 $263.5 $2,397
2000 $1,276 $5,796 $253.7 $2,315
1999 $1,211 $5,331 $403 $2,239
1998 $1,511 $5,061 $400 $2,167
1997 $1,396 $4,596 $378 $2,097
1996 $1,427 $4,039 $389 $2,026
1995 $1,371 $3,846 $372 $1,947
1994 $1,460 $4,190 $321 $1,875
1993 $1,590 $4,641 $360 $1,821
1992 $1,658 $4,917 $396 $1,739
1991 $1,805 $5,330 $418 $1,678
1990 $1,707 $5,220 $383 $1,581
1989 - - $350 -
1988 - - $355 -
1987 - - $355 -
1986 - - $411 -
1985 - - $330 -
1984 - - $330 -
1983 - - $311 -
1982 - - $319 -
1981 - - $344 -
1980 - - $372 -
1979 - - $347 -
1978 - - $326 -
1977 - - $292.3 -
1976 - - $261 -
1975 - - $273 -
1974 - - $289.4 -
1973 - - $310 -
1972 - - $223.8 -
1971 - - $263.4 -
1970 - - $248.2 -
1969 - - $225.8 -
1968 - - $196.7 -
1967 - - $211.2 -
1966 - - $263.3 -
1965 - - $260.5 -
1964 - - $225 -
1963 - - $205 -
1962 - - $188.4 -
1961 - - $181.9 -
1960 - - $174.9 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/ghana | CC BY

Belarus' GDP per capita is $8,318, ranking 92/197, compared to $2,391 in Ghana, ranking 151/197. Adjusted for purchasing power (GDP per capita PPP), Belarus ranks 68th at $33,010, while Ghana ranks 140th at $8,020.

Economic indicators

Belarus Ghana
Gross domestic product
$76B
2024
$82.3B
2024
GDP rank
83/197
2024
80/197
2024
GDP growth
4.01%
2023-2024
5.59%
2023-2024
GDP per capita
$8,318
2024
$2,391
2024
GDP per capita rank
92/197
2024
151/197
2024
GDP per capita, PPP
$33,010
2024
$8,020
2024
GDP per capita PPP rank
68/197
2024
140/197
2024
Government debt
$30.3B
2024
$57.9B
2024
Debt-to-GDP ratio
39.9%
2024
70.3%
2024
Government debt per person
$3,318
2024
$1,682
2024
Government debt per person rank
97/185
2024
123/185
2024
Average annual personal income after taxes
$7,345
2026
$2,110
2026
Market capitalization of domestic companies
$6.01B
2024
$7.58B
2024
Income share by richest 10%
20.7%
2020
32.2%
2016
Income share by poorest 10%
4.5%
2020
1.6%
2016
Government expenditure, % of GDP
40.9%
2024
23.2%
2024
Consumer prices inflation
5.7%
2023-2024
22.8%
2023-2024
Central bank interest rate
9.75%
2025
25%
2025
Unemployment rate
3.04%
2024
2.87%
2022
Population
9013835
35885254

Spending and national debt comparison by year

Belarus
Spending

Debt
Ghana
Spending

Debt
1x
Year % of GDP
Belarus Ghana
Government spending Government debt Government spending Government debt
2024 40.9% 39.9% 23.2% 70.3%
2023 40.3% 40.7% 18.5% 79.1%
2022 38% 40.8% 27.5% 92.7%
2021 36.7% 41.2% 27.2% 86.9%
2020 38% 47.5% 31.5% 79.1%
2019 37.4% 41% 22.5% 62.9%
2018 37.8% 47.5% 20.9% 62%
2017 39% 53.2% 17.6% 57%
2016 40.7% 53.5% 19.9% 55.9%
2015 41.8% 53% 18.6% 53.9%
2014 38.8% 38.8% 21% 50.1%
2013 40.8% 36.9% 21.6% 42.9%
2012 38.9% 36.9% 22.1% 35.5%
2011 40.3% 58.2% 19.5% 31.2%
2010 44.3% 36.8% 19% 32.9%
2009 51.7% 32.5% 16.6% 25.4%
2008 60% 20.3% 16.6% 23.2%
2007 49.2% 15.8% 16.8% 21.1%
2006 47.2% 12.3% 14.4% 17.3%
2005 45% 8.12% 12.9% 31.7%
2004 44% 9.22% 13.7% 38.4%
2003 43.5% - 12.1% 49.3%
2002 43.8% - 10.7% 54.1%
2001 42.4% - 13.8% 57.8%
2000 - - 12% 74.5%
1999 - - 11.1% 51.7%
1998 - - 11.8% 37.6%
1997 - - 12% 45.2%
1996 - - 12.4% 42.9%
1995 - - 13% 47.6%
1994 - - 12.7% 50.6%
1993 - - 12.1% 34.1%
1992 - - 9.2% 21.3%
1991 - - 7.09% 17.3%
1990 - - 6.59% 17.8%
1989 - - 7.24% 23%
1988 - - 7.23% 23.5%
1987 - - 7.32% 26.8%
1986 - - 7.29% 18.2%
1985 - - 6.08% 14.4%
1984 - - 4.64% 13%
1983 - - 3.49% 9.21%
1982 - - 4.73% 8.51%
1981 - - 5.74% 8.77%
1980 - - 7.51% 9.75%
1979 - - 9.14% 11.5%
1978 - - 6.54% 11.4%
1977 - - 10.5% 20.7%
1976 - - 12.8% 26%
1975 - - 13.2% 21.8%
1974 - - 9.52% 21.8%
1973 - - 9.35% 25.4%
1972 - - 11.4% 29.8%
1971 - - 11.7% 29.5%
1970 - - 12.2% 31.9%
1969 - - 11.2% 31.4%
1968 - - 12.3% 34.5%
1967 - - 11.5% 33.9%
1966 - - 9.12% 29.8%
1965 - - 14.2% 30.2%
1964 - - 15.8% 30.8%
1963 - - 15.3% 30.5%
1962 - - 12.5% 11.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/belarus/ghana | CC BY

In 2024, Belarus' government spending was $31.1B, accounting for 40.9% of its GDP, while Ghana spent $19.1B, or 23.2% of GDP.

Debt-to-GDP ratio is 39.9% in Belarus and 70.3% in Ghana, ranking 133/185 and 57/185, respectively.

Government deficit by year

Deficit/surplus
Belarus

Ghana
1x
Year Deficit/surplus, % of GDP
Belarus Ghana
2024 1.05% -7.31%
2023 0.76% -3.37%
2022 -1.98% -11.8%
2021 -0.22% -12%
2020 -2.87% -17.4%
2019 0.91% -7.52%
2018 1.8% -6.79%
2017 -0.34% -3.97%
2016 -1.66% -6.75%
2015 -2.96% -4.01%
2014 0.09% -7.81%
2013 -0.98% -9.12%
2012 0.36% -8.36%
2011 -2.81% -5.47%
2010 -4.19% -7.13%
2009 -7.23% -5.05%
2008 -10.9% -5.56%
2007 -7.82% -4.91%
2006 -7.71% -3.11%
2005 -6.71% -1.87%
2004 -7.06% -2.02%
2003 -6.74% -1.99%
2002 -7.81% -2.73%
2001 -4.74% -3.64%
2000 - -3.98%
1999 - -5.64%
1998 - -5.27%
1997 - -6.14%
1996 - -5.61%
1995 - -4.52%
1994 - -4.99%
1993 - -5.39%
1992 - -4.5%
1991 - -1.47%
1990 - -1.93%
1989 - -0.81%
1988 - -1.08%
1987 - -0.92%
1986 - -1.26%
1985 - -1.19%
1984 - -0.98%
1983 - -1.13%
1982 - -2.03%
1981 - -3.8%
1980 - -4.73%
1979 - -3.61%
1978 - -1.21%
1977 - -4.68%
1976 - -5.53%
1975 - -4.05%
1974 - -2.06%
1973 - -2.64%
1972 - -2.19%
1971 - 0.13%
1970 - -2.35%
1969 - -2.67%
1968 - -2.34%
1967 - -2.32%
1966 - -1.29%
1965 - -3.29%
1964 - -3.72%
1963 - -5.66%
1962 - -5.04%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/belarus/ghana | CC BY

In 2024, Belarus' government surplus, the difference between spending and revenue, was $796M, equivalent to 1.05% of GDP. This compares to Ghana's deficit of $6.02B, or 7.31% of GDP.

Over the past 24 years, Belarus recorded a fiscal deficit in 18 of those years, while Ghana ran a deficit in 24 years. On average, Belarus posted an annual deficit equal to 3.32% of GDP, compared to deficit of 6.24% of GDP for Ghana.

Inflation comparison by year

Inflation
Belarus

Ghana
1x
Year Consumer prices inflation
Belarus Ghana
2024 5.7% 22.8%
2023 5% 38.1%
2022 15.2% 31.3%
2021 9.5% 9.97%
2020 5.5% 9.89%
2019 5.6% 7.14%
2018 4.9% 7.81%
2017 6% 12.4%
2016 11.8% 17.5%
2015 13.5% 17.1%
2014 18.1% 15.5%
2013 18.3% 11.7%
2012 59.2% 11.2%
2011 53.2% 8.73%
2010 7.7% 10.7%
2009 13% 19.2%
2008 14.8% 16.5%
2007 8.4% 10.7%
2006 7% 11.7%
2005 10.3% 15.4%
2004 18.1% 18%
2003 28.4% 29.8%
2002 42.6% 9.36%
2001 61.1% 41.5%
2000 168.6% 40.2%
1999 293.7% 4.87%
1998 73% 14.6%
1997 63.8% 27.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/ghana | CC BY

Over the past 28 years, Belarus has recorded an average annual inflation rate of 37.2%, compared with 17.6% in Ghana. In 2024, inflation was 5.7% in Belarus and 22.8% in Ghana.

Top exports between countries

Belarus
Export category Export value
Metals $12.2M
Raw materials & minerals $1.59M
Animal & marine products $1.52M
Transport & tourism services $514K
Processed food, beverages & tobacco $468K
Manufacturing & construction services $214K
Wood & paper products $161K
Machinery & equipment $159K
Business & finance services $36K
IT & IP services $8K
Ghana
Export category Export value

Balance of trade

Belarus Ghana
Current account balance
-$1.94B
2024
$1.68B
2024
Current account balance ranking
142/190
2024
49/190
2024
Current account balance, % of GDP
-2.56%
2024
+2.04%
2024
Goods imports
$44.2B
2024
$15.4B
2024
Goods exports
$39.5B
2024
$19.2B
2024
Service imports
$6.82B
2024
$11.5B
2024
Service exports
$10.1B
2024
$9.27B
2024
Imports of goods and services, % of GDP
66.9%
2024
34.3%
2024
Exports of goods and services, % of GDP
65.1%
2024
35.5%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Belarus Ghana
Economic freedom 49.1 57.3
Economic freedom ranking 166/197 118/197
Property rights 20 50.2
Government integrity 28.3 45.4
Judicial effectiveness 11.5 57.5
Tax burden 93.5 79.4
Government spending 52.6 84
Fiscal health 96.8 10.1
Business freedom 50.3 64.5
Labor freedom 48 54.9
Monetary freedom 69 56.7
Trade freedom 69.2 65.2
Investment freedom 30 60
Financial freedom 20 60

Economic freedom comparison by year

Belarus
Ghana
1x
Year Economic freedom index
Belarus Ghana
2026 49.1 57.3
2025 48.9 56
2024 48.4 55.8
2023 51 58
2022 53 59.8
2021 61 59.2
2020 61.7 59.4
2019 57.9 57.5
2018 58.1 56
2017 58.6 56.2
2016 48.8 63
2015 49.8 63
2014 50.1 64.2
2013 48 61.3
2012 49 60.7
2011 47.9 59.4
2010 48.7 60.2
2009 45 58.1
2008 45.3 57
2007 47 57.6
2006 47.5 55.6
2005 46.7 56.5
2004 43.1 59.1
2003 39.7 58.2
2002 39 57.2
2001 38 58
2000 41.3 58.1
1999 35.4 57.9
1998 38 57
1997 39.8 56.7
1996 38.7 57.7
1995 40.4 55.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/belarus/ghana | CC BY

The Economic Freedom Index for Belarus is 49.1, ranking 166/197, compared to 57.3 for Ghana, ranking 118/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belarus Ghana
Services, % of GDP
49.7%
2024
40.9%
2024
Industry, % of GDP
30.7%
2024
31.5%
2024
Agriculture, forestry, and fishing, % of GDP
6.87%
2024
20.9%
2024
GNI, Atlas method
$75.4B
2024
$79.5B
2024
GNI per capita, PPP
$32,300
2024
$7,720
2024
Total reserves including gold
$8.91B
2024
$3.62B
2023
Total reserves ranking
82/177
2024
112/177
2023
Net foreign direct investment
-$1.57B
2024
-$1.76B
2024
Net inflows of foreign direct investment
$1.74B
2024
$1.77B
2024
Net outflows of foreign direct investment
$170M
2024
$5.37M
2024
Servicing debt to the IMF, % of GNI
7.19%
2024
3.45%
2024
Poverty at national poverty lines
3.9%
2022
23.4%
2016
Gross capital formation, % of GDP
25.8%
2024
10%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/belarus/ghana | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2021, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.