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Economy of Central African Republic vs Ghana compared: GDP & Debt

Updated on by Georank team

The Central African Republic has a GDP of $2.75B compared to $82.3B for Ghana, ranking 171/197 and 80/197 by economy size, respectively.

The Central African Republic has $1.67B in government debt (60.7% of GDP), compared to $57.9B (70.3% of GDP) in Ghana.

Central African Republic vs Ghana GDP by year

Central African Republic
Ghana
1x
Year GDP, current $
CAR Ghana
2024 $2,751,494,281 $82,308,110,386
2023 $2,555,492,086 $80,547,146,878
2022 $2,382,618,615 $73,919,003,210
2021 $2,516,498,412 $79,514,204,730
2020 $2,326,720,900 $70,008,243,860
2019 $2,221,301,351 $68,352,629,246
2018 $2,220,979,146 $67,259,353,966
2017 $2,072,349,973 $60,385,409,435
2016 $1,825,018,145 $56,144,179,398
2015 $1,695,825,714 $49,436,806,230
2014 $1,894,813,389 $54,678,533,806
2013 $1,691,544,110 $62,845,721,960
2012 $2,510,126,512 $41,271,701,061
2011 $2,437,982,705 $39,336,668,081
2010 $2,142,591,540 $32,197,655,567
2009 $2,067,381,665 $26,048,720,006
2008 $1,993,407,888 $28,679,383,241
2007 $1,699,811,295 $24,827,339,138
2006 $1,461,859,762 $20,885,037,597
2005 $1,337,894,379 $10,744,568,381
2004 $1,272,360,517 $8,881,417,907
2003 $1,142,315,523 $7,632,723,556
2002 $996,068,145 $6,166,197,848
2001 $932,648,605 $5,314,872,854
2000 $916,777,283 $4,982,850,662
1999 $999,477,511 $7,718,109,982
1998 $967,338,390 $7,482,069,162
1997 $937,741,513 $6,891,443,192
1996 $1,007,791,127 $6,932,991,739
1995 $1,115,389,674 $6,464,382,808
1994 $851,174,357 $5,446,383,727
1993 $1,278,781,262 $5,968,922,939
1992 $1,411,917,553 $6,416,103,926
1991 $1,377,374,987 $6,603,185,268
1990 $1,440,711,459 $5,889,106,573
1989 $1,233,930,281 $5,251,858,440
1988 $1,264,899,288 $5,197,765,032
1987 $1,200,991,978 $5,074,829,932
1986 $1,122,265,013 $5,735,677,434
1985 $864,849,836 $4,504,306,723
1984 $637,820,670 $4,412,279,843
1983 $658,679,333 $4,057,275,132
1982 $748,312,391 $4,035,994,398
1981 $694,803,623 $4,222,441,860
1980 $797,048,199 $4,445,228,216
1979 $700,764,748 $4,020,227,920
1978 $610,578,632 $3,662,478,185
1977 $507,298,148 $3,189,428,571
1976 $451,152,461 $2,765,254,237
1975 $378,660,016 $2,810,106,383
1974 $281,398,706 $2,894,409,938
1973 $271,183,082 $3,006,766,758
1972 $230,317,883 $2,112,293,280
1971 $201,450,800 $2,417,108,578
1970 $189,106,529 $2,215,028,588
1969 $188,039,210 $1,962,050,556
1968 $191,767,442 $1,666,909,518
1967 $163,820,514 $1,747,187,645
1966 $157,930,018 $2,126,300,672
1965 $150,574,795 $2,053,462,968
1964 $142,025,079 $1,731,296,200
1963 $129,379,124 $1,540,797,589
1962 $124,482,774 $1,382,515,654
1961 $123,134,583 $1,302,674,325
1960 $112,155,598 $1,217,230,095

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

GeoRank.org/economy/central-african-republic/ghana | CC BY

GDP per capita in Central African Republic vs Ghana by year

Central African Republic
GDP per capita

GDP per capita, PPP
Ghana
GDP per capita

GDP per capita, PPP
1x
Year Current $
CAR Ghana
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $516 $1,263 $2,391 $8,020
2023 $496 $1,257 $2,384 $7,556
2022 $467 $1,218 $2,230 $7,208
2021 $492 $1,129 $2,445 $6,608
2020 $463 $1,066 $2,195 $6,047
2019 $449 $985 $2,187 $6,003
2018 $455 $906 $2,195 $5,536
2017 $432 $884 $2,012 $5,171
2016 $387 $826 $1,912 $5,011
2015 $366 $769 $1,723 $5,191
2014 $410 $699 $1,950 $5,517
2013 $364 $710 $2,295 $5,215
2012 $544 $1,062 $1,544 $4,934
2011 $534 $980 $1,507 $4,381
2010 $477 $936 $1,264 $3,855
2009 $456 $877 $1,048 $3,617
2008 $437 $798 $1,183 $3,516
2007 $381 $783 $1,050 $3,241
2006 $334 $743 $906 $3,103
2005 $312 $702 $479 $2,904
2004 $303 $690 $406 $2,729
2003 $278.4 $648 $358 $2,584
2002 $248.6 $688 $297.5 $2,475
2001 $238 $668 $263.5 $2,397
2000 $239.2 $640 $253.7 $2,315
1999 $268 $660 $403 $2,239
1998 $266.6 $645 $400 $2,167
1997 $265.5 $626 $378 $2,097
1996 $293.3 $601 $389 $2,026
1995 $333 $631 $372 $1,947
1994 $261.3 $592 $321 $1,875
1993 $405 $570 $360 $1,821
1992 $462 $573 $396 $1,739
1991 $465 $618 $418 $1,678
1990 $502 $620 $383 $1,581
1989 $443 - $350 -
1988 $466 - $355 -
1987 $450 - $355 -
1986 $426 - $411 -
1985 $333 - $330 -
1984 $248.3 - $330 -
1983 $259.6 - $311 -
1982 $298.4 - $319 -
1981 $280.3 - $344 -
1980 $325 - $372 -
1979 $289.1 - $347 -
1978 $254.6 - $326 -
1977 $213.8 - $292.3 -
1976 $192.1 - $261 -
1975 $163.6 - $273 -
1974 $124 - $289.4 -
1973 $121.8 - $310 -
1972 $105.5 - $223.8 -
1971 $94.1 - $263.4 -
1970 $90.2 - $248.2 -
1969 $91.7 - $225.8 -
1968 $95.6 - $196.7 -
1967 $83.6 - $211.2 -
1966 $82.3 - $263.3 -
1965 $80.2 - $260.5 -
1964 $77.2 - $225 -
1963 $71.8 - $205 -
1962 $70.4 - $188.4 -
1961 $71 - $181.9 -
1960 $65.9 - $174.9 -

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

GeoRank.org/economy/central-african-republic/ghana | CC BY

The Central African Republic's GDP per capita is $516, ranking 195/197, compared to $2,391 in Ghana, ranking 151/197. Adjusted for purchasing power (GDP per capita PPP), the Central African Republic ranks 195th at $1,263, while Ghana ranks 140th at $8,020.

Economic indicators

CAR Ghana
Gross domestic product
$2.75B
2024
$82.3B
2024
GDP rank
171/197
2024
80/197
2024
GDP growth
1.5%
2023-2024
5.59%
2023-2024
GDP per capita
$516
2024
$2,391
2024
GDP per capita rank
195/197
2024
151/197
2024
GDP per capita, PPP
$1,263
2024
$8,020
2024
GDP per capita PPP rank
195/197
2024
140/197
2024
Government debt
$1.67B
2024
$57.9B
2024
Debt-to-GDP ratio
60.7%
2024
70.3%
2024
Government debt per person
$313
2024
$1,682
2024
Government debt per person rank
178/185
2024
123/185
2024
Average annual personal income after taxes
$1,078
2026
$2,110
2026
Market capitalization of domestic companies n/a
$7.58B
2024
Income share by richest 10%
33.1%
2021
32.2%
2016
Income share by poorest 10%
2.1%
2021
1.6%
2016
Government expenditure, % of GDP
19.5%
2024
23.2%
2024
Consumer prices inflation
1.5%
2023-2024
22.8%
2023-2024
Central bank interest rate n/a
25%
2025
Unemployment rate
6.9%
2017
2.87%
2022
Population
5753659
35885254

Spending and national debt comparison by year

Central African Republic
Spending

Debt
Ghana
Spending

Debt
1x
Year % of GDP
CAR Ghana
Government spending Government debt Government spending Government debt
2024 19.5% 60.7% 23.2% 70.3%
2023 17.5% 55.6% 18.5% 79.1%
2022 17.4% 49.9% 27.5% 92.7%
2021 19.2% 46.9% 27.2% 86.9%
2020 24.2% 42.8% 31.5% 79.1%
2019 15.8% 44.9% 22.5% 62.9%
2018 16.8% 47.9% 20.9% 62%
2017 13.1% 47.4% 17.6% 57%
2016 11.1% 49.3% 19.9% 55.9%
2015 12.7% 54.4% 18.6% 53.9%
2014 16.7% 57.5% 21% 50.1%
2013 13.4% 51.8% 21.6% 42.9%
2012 14.7% 31.5% 22.1% 35.5%
2011 14.2% 19.7% 19.5% 31.2%
2010 17.3% 19.9% 19% 32.9%
2009 16% 20.3% 16.6% 25.4%
2008 16% 35.8% 16.6% 23.2%
2007 12.9% 47.9% 16.8% 21.1%
2006 13.4% 46.7% 14.4% 17.3%
2005 16.2% 103% 12.9% 31.7%
2004 13.1% 99.7% 13.7% 38.4%
2003 12.3% 95.9% 12.1% 49.3%
2002 16.7% 98.5% 10.7% 54.1%
2001 14.1% 103.1% 13.8% 57.8%
2000 17.2% 94.7% 12% 74.5%
1999 18.2% 84.2% 11.1% 51.7%
1998 18.1% 85.3% 11.8% 37.6%
1997 14.5% 96.1% 12% 45.2%
1996 11.7% 93% 12.4% 42.9%
1995 20.6% 83.8% 13% 47.6%
1994 22.4% 103.4% 12.7% 50.6%
1993 20.6% 68.2% 12.1% 34.1%
1992 23.1% 57.4% 9.2% 21.3%
1991 22.6% 55.8% 7.09% 17.3%
1990 22% 44.6% 6.59% 17.8%
1989 19.6% 50.9% 7.24% 23%
1988 21.4% 48.8% 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 (1962–1996, retrieved 2026-02-20).

GeoRank.org/economy/central-african-republic/ghana | CC BY

In 2024, the Central African Republic's government spending was $538M, accounting for 19.5% of its GDP, while Ghana spent $19.1B, or 23.2% of GDP.

Debt-to-GDP ratio is 60.7% in the Central African Republic and 70.3% in Ghana, ranking 77/185 and 57/185, respectively.

Government deficit by year

Deficit/surplus
Central African Republic

Ghana
1x
Year Deficit/surplus, % of GDP
CAR Ghana
2024 -5.08% -7.31%
2023 -3.44% -3.37%
2022 -5.23% -11.8%
2021 -5.8% -12%
2020 -3.24% -17.4%
2019 1.33% -7.52%
2018 -0.93% -6.79%
2017 -1% -3.97%
2016 1.17% -6.75%
2015 -0.53% -4.01%
2014 -3.02% -7.81%
2013 -2.3% -9.12%
2012 -0.78% -8.36%
2011 -2.15% -5.47%
2010 -1.35% -7.13%
2009 -0.54% -5.05%
2008 -1.23% -5.56%
2007 1.04% -4.91%
2006 8.58% -3.11%
2005 -4.37% -1.87%
2004 -1.74% -2.02%
2003 -3.06% -1.99%
2002 -1.19% -2.73%
2001 -0.88% -3.64%
2000 -2.01% -3.98%
1999 -0.5% -5.64%
1998 0.001% -5.27%
1997 -1.57% -6.14%
1996 -1.06% -5.61%
1995 -4.84% -4.52%
1994 -7.57% -4.99%
1993 -5.66% -5.39%
1992 -7.33% -4.5%
1991 -8% -1.47%
1990 -6.6% -1.93%
1989 -3.25% -0.81%
1988 -3.72% -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/central-african-republic/ghana | CC BY

In 2024, the Central African Republic's government deficit, the difference between spending and revenue, was $140M, equivalent to 5.08% of GDP. This compares to Ghana's deficit of $6.02B, or 7.31% of GDP.

Over the past 37 years, the Central African Republic recorded a fiscal deficit in 32 of those years, while Ghana ran a deficit in 37 years. On average, the Central African Republic posted an annual deficit equal to 2.37% of GDP, compared to deficit of 5.43% of GDP for Ghana.

Inflation comparison by year

Inflation
Central African Republic

Ghana
1x
Year Consumer prices inflation
CAR Ghana
2024 1.5% 22.8%
2023 3% 38.1%
2022 5.6% 31.3%
2021 4.3% 9.97%
2020 0.9% 9.89%
2019 2.8% 7.14%
2018 1.6% 7.81%
2017 4.2% 12.4%
2016 4.9% 17.5%
2015 1.4% 17.1%
2014 17.8% 15.5%
2013 4% 11.7%
2012 5.9% 11.2%
2011 1.2% 8.73%
2010 1.5% 10.7%
2009 3.6% 19.2%
2008 9.2% 16.5%
2007 0.9% 10.7%
2006 6.9% 11.7%
2005 2.9% 15.4%
2004 -2.6% 18%
2003 4.4% 29.8%
2002 2.3% 9.36%
2001 4.1% 41.5%
2000 3.4% 40.2%
1999 -1.6% 4.87%
1998 -2% 14.6%
1997 1.6% 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/central-african-republic/ghana | CC BY

Over the past 28 years, the Central African Republic has recorded an average annual inflation rate of 3.35%, compared with 17.6% in Ghana. In 2024, inflation was 1.5% in the Central African Republic and 22.8% in Ghana.

Top exports between countries

CAR
Export category Export value
Ghana
Export category Export value
Processed food, beverages & tobacco $35K
Textiles & consumer goods $3K
Chemicals & pharma $1K

Balance of trade

CAR Ghana
Current account balance
-$24.7M
1994
$1.68B
2024
Current account balance ranking
81/190
1994
49/190
2024
Current account balance, % of GDP
-2.9%
1994
+2.04%
2024
Goods imports
$131M
1994
$15.4B
2024
Goods exports
$146M
1994
$19.2B
2024
Service imports
$114M
1994
$11.5B
2024
Service exports
$33.1M
1994
$9.27B
2024
Imports of goods and services, % of GDP
31.4%
2024
34.3%
2024
Exports of goods and services, % of GDP
15%
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.

CAR Ghana
Economic freedom 43.1 57.3
Economic freedom ranking 182/197 118/197
Property rights 5.6 50.2
Government integrity 19.2 45.4
Judicial effectiveness 4 57.5
Tax burden 65.5 79.4
Government spending 90.1 84
Fiscal health 59 10.1
Business freedom 26.5 64.5
Labor freedom 48.5 54.9
Monetary freedom 75.6 56.7
Trade freedom 47.6 65.2
Investment freedom 45 60
Financial freedom 30 60

Economic freedom comparison by year

Central African Republic
Ghana
1x
Year Economic freedom index
CAR Ghana
2026 43.1 57.3
2025 42.8 56
2024 41.3 55.8
2023 43.8 58
2022 45.7 59.8
2021 48.8 59.2
2020 50.7 59.4
2019 49.1 57.5
2018 49.2 56
2017 51.8 56.2
2016 45.2 63
2015 45.9 63
2014 46.7 64.2
2013 50.4 61.3
2012 50.3 60.7
2011 49.3 59.4
2010 48.4 60.2
2009 48.3 58.1
2008 48.6 57
2007 50.6 57.6
2006 54.2 55.6
2005 56.5 56.5
2004 57.5 59.1
2003 60 58.2
2002 59.8 57.2
2001 - 58
2000 - 58.1
1999 - 57.9
1998 - 57
1997 - 56.7
1996 - 57.7
1995 - 55.6

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

GeoRank.org/economy/central-african-republic/ghana | CC BY

The Economic Freedom Index for the Central African Republic is 43.1, ranking 182/197, 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

CAR Ghana
Services, % of GDP
42.1%
2024
40.9%
2024
Industry, % of GDP
20%
2024
31.5%
2024
Agriculture, forestry, and fishing, % of GDP
27.9%
2024
20.9%
2024
GNI, Atlas method
$2.74B
2024
$79.5B
2024
GNI per capita, PPP
$1,340
2024
$7,720
2024
Total reserves including gold
$480M
2023
$3.62B
2023
Total reserves ranking
158/177
2023
112/177
2023
Net foreign direct investment
$3.6M
1994
-$1.76B
2024
Net inflows of foreign direct investment
$40.4M
2024
$1.77B
2024
Net outflows of foreign direct investment
$0
2024
$5.37M
2024
Servicing debt to the IMF, % of GNI
1.94%
2024
3.45%
2024
Poverty at national poverty lines
68.8%
2021
23.4%
2016
Gross capital formation, % of GDP
23.6%
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/central-african-republic/ghana | CC BY

Compare countries by 7 more topics

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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 (1962–1996, 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 (2022–2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2017, retrieved 2026-02-20)

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.