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Economy of Ghana vs Lithuania compared: GDP & Debt

Updated on by Georank team

Ghana has a GDP of $82.3B compared to $84.9B for Lithuania, ranking 80/197 and 79/197 by economy size, respectively.

Ghana has $57.9B in government debt (70.3% of GDP), compared to $32.4B (38.2% of GDP) in Lithuania.

Ghana vs Lithuania GDP by year

Ghana
Lithuania
1x
Year GDP, current $
Ghana Lithuania
2024 $82,308,110,386 $84,869,215,513
2023 $80,547,146,878 $79,789,877,416
2022 $73,919,003,210 $71,033,884,500
2021 $79,514,204,730 $67,037,321,009
2020 $70,008,243,860 $57,412,038,533
2019 $68,352,629,246 $55,122,066,226
2018 $67,259,353,966 $54,261,795,149
2017 $60,385,409,435 $47,756,764,508
2016 $56,144,179,398 $42,970,749,245
2015 $49,436,806,230 $41,540,954,817
2014 $54,678,533,806 $48,306,546,657
2013 $62,845,721,960 $46,303,660,422
2012 $41,271,701,061 $42,709,372,067
2011 $39,336,668,081 $43,186,501,863
2010 $32,197,655,567 $36,638,128,534
2009 $26,048,720,006 $37,494,380,039
2008 $28,679,383,241 $47,831,254,208
2007 $24,827,339,138 $39,729,151,615
2006 $20,885,037,597 $30,116,192,747
2005 $10,744,568,381 $26,105,207,115
2004 $8,881,417,907 $22,743,164,431
2003 $7,632,723,556 $18,809,197,970
2002 $6,166,197,848 $14,282,292,665
2001 $5,314,872,854 $12,260,761,329
2000 $4,982,850,662 $11,550,695,727
1999 $7,718,109,982 $11,022,095,814
1998 $7,482,069,162 $11,289,161,847
1997 $6,891,443,192 $10,168,271,903
1996 $6,932,991,739 $8,430,207,164
1995 $6,464,382,808 $7,921,210,340
1994 $5,446,383,727 -
1993 $5,968,922,939 -
1992 $6,416,103,926 -
1991 $6,603,185,268 -
1990 $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/ghana/lithuania | CC BY

GDP per capita in Ghana vs Lithuania by year

Ghana
GDP per capita

GDP per capita, PPP
Lithuania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ghana Lithuania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,391 $8,020 $29,384 $55,286
2023 $2,384 $7,556 $27,786 $52,348
2022 $2,230 $7,208 $25,086 $50,936
2021 $2,445 $6,608 $23,870 $45,874
2020 $2,195 $6,047 $20,429 $41,263
2019 $2,187 $6,003 $19,609 $40,564
2018 $2,195 $5,536 $19,247 $36,492
2017 $2,012 $5,171 $16,800 $31,305
2016 $1,912 $5,011 $14,934 $28,699
2015 $1,723 $5,191 $14,270 $26,949
2014 $1,950 $5,517 $16,446 $26,275
2013 $2,295 $5,215 $15,637 $24,890
2012 $1,544 $4,934 $14,288 $23,275
2011 $1,507 $4,381 $14,262 $21,558
2010 $1,264 $3,855 $11,829 $18,719
2009 $1,048 $3,617 $11,854 $17,055
2008 $1,183 $3,516 $14,956 $19,410
2007 $1,050 $3,241 $12,295 $17,969
2006 $906 $3,103 $9,210 $15,522
2005 $479 $2,904 $7,857 $13,951
2004 $406 $2,729 $6,735 $12,605
2003 $358 $2,584 $5,507 $11,660
2002 $297.5 $2,475 $4,148 $10,296
2001 $263.5 $2,397 $3,533 $9,399
2000 $253.7 $2,315 $3,301 $8,475
1999 $403 $2,239 $3,128 $7,918
1998 $400 $2,167 $3,181 $7,846
1997 $378 $2,097 $2,844 $7,167
1996 $389 $2,026 $2,341 $6,479
1995 $372 $1,947 $2,183 $6,023
1994 $321 $1,875 - $5,667
1993 $360 $1,821 - $6,107
1992 $396 $1,739 - $7,087
1991 $418 $1,678 - $8,790
1990 $383 $1,581 - $9,030
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/ghana/lithuania | CC BY

Ghana's GDP per capita is $2,391, ranking 151/197, compared to $29,384 in Lithuania, ranking 43/197. Adjusted for purchasing power (GDP per capita PPP), Ghana ranks 140th at $8,020, while Lithuania ranks 39th at $55,286.

Economic indicators

Ghana Lithuania
Gross domestic product
$82.3B
2024
$84.9B
2024
GDP rank
80/197
2024
79/197
2024
GDP growth
5.59%
2023-2024
2.77%
2023-2024
GDP per capita
$2,391
2024
$29,384
2024
GDP per capita rank
151/197
2024
43/197
2024
GDP per capita, PPP
$8,020
2024
$55,286
2024
GDP per capita PPP rank
140/197
2024
39/197
2024
Government debt
$57.9B
2024
$32.4B
2024
Debt-to-GDP ratio
70.3%
2024
38.2%
2024
Government debt per person
$1,682
2024
$11,232
2024
Government debt per person rank
123/185
2024
49/185
2024
Average annual personal income after taxes
$2,110
2026
$19,946
2026
Market capitalization of domestic companies
$7.58B
2024
n/a
Income share by richest 10%
32.2%
2016
27.3%
2023
Income share by poorest 10%
1.6%
2016
2.2%
2023
Government expenditure, % of GDP
23.2%
2024
39.5%
2024
Consumer prices inflation
22.8%
2023-2024
0.72%
2023-2024
Central bank interest rate
25%
2025
n/a
Unemployment rate
2.87%
2022
7.1%
2024
Population
35885254
2829914

Spending and national debt comparison by year

Ghana
Spending

Debt
Lithuania
Spending

Debt
1x
Year % of GDP
Ghana Lithuania
Government spending Government debt Government spending Government debt
2024 23.2% 70.3% 39.5% 38.2%
2023 18.5% 79.1% 37.4% 37.3%
2022 27.5% 92.7% 36.3% 38.1%
2021 27.2% 86.9% 37.3% 43.3%
2020 31.5% 79.1% 42.4% 45.9%
2019 22.5% 62.9% 34.6% 35.6%
2018 20.9% 62% 33.8% 33.3%
2017 17.6% 57% 33.4% 39.3%
2016 19.9% 55.9% 34.5% 40%
2015 18.6% 53.9% 35.2% 42.6%
2014 21% 50.1% 35% 40.7%
2013 21.6% 42.9% 35.7% 38.9%
2012 22.1% 35.5% 36.6% 39.9%
2011 19.5% 31.2% 40.1% 37.5%
2010 19% 32.9% 43% 36.7%
2009 16.6% 25.4% 44.8% 27.9%
2008 16.6% 23.2% 38.2% 14.6%
2007 16.8% 21.1% 35.3% 15.9%
2006 14.4% 17.3% 34.4% 17.3%
2005 12.9% 31.7% 34.1% 17.6%
2004 13.7% 38.4% 33.9% 18.6%
2003 12.1% 49.3% 32.8% 20.4%
2002 10.7% 54.1% 34.4% 22.1%
2001 13.8% 57.8% 36.5% 22.9%
2000 12% 74.5% 38.7% 23.5%
1999 11.1% 51.7% 42.4% 28%
1998 11.8% 37.6% 39.6% 21.7%
1997 12% 45.2% 35% -
1996 12.4% 42.9% 34.4% -
1995 13% 47.6% 35.5% -
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/ghana/lithuania | CC BY

In 2024, Ghana's government spending was $19.1B, accounting for 23.2% of its GDP, while Lithuania spent $33.5B, or 39.5% of GDP.

Debt-to-GDP ratio is 70.3% in Ghana and 38.2% in Lithuania, ranking 57/185 and 139/185, respectively.

Government deficit by year

Deficit/surplus
Ghana

Lithuania
1x
Year Deficit/surplus, % of GDP
Ghana Lithuania
2024 -7.31% -1.28%
2023 -3.37% -0.69%
2022 -11.8% -0.72%
2021 -12% -1.15%
2020 -17.4% -6.42%
2019 -7.52% 0.41%
2018 -6.79% 0.52%
2017 -3.97% 0.36%
2016 -6.75% 0.03%
2015 -4.01% -0.77%
2014 -7.81% -1.79%
2013 -9.12% -2.69%
2012 -8.36% -3.15%
2011 -5.47% -5.92%
2010 -7.13% -6.95%
2009 -5.05% -9.09%
2008 -5.56% -3.09%
2007 -4.91% -0.82%
2006 -3.11% -0.27%
2005 -1.87% -0.34%
2004 -2.02% -1.39%
2003 -1.99% -1.26%
2002 -2.73% -1.85%
2001 -3.64% -3.52%
2000 -3.98% -3.18%
1999 -5.64% -7.82%
1998 -5.27% -4.93%
1997 -6.14% -0.76%
1996 -5.61% -3.59%
1995 -4.52% -3.31%
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/ghana/lithuania | CC BY

In 2024, Ghana's government deficit, the difference between spending and revenue, was $6.02B, equivalent to 7.31% of GDP. This compares to Lithuania's deficit of $1.09B, or 1.28% of GDP.

Over the past 30 years, Ghana recorded a fiscal deficit in 30 of those years, while Lithuania ran a deficit in 26 years. On average, Ghana posted an annual deficit equal to 6.03% of GDP, compared to deficit of 2.51% of GDP for Lithuania.

Inflation comparison by year

Inflation
Ghana

Lithuania
1x
Year Consumer prices inflation
Ghana Lithuania
2024 22.8% 0.72%
2023 38.1% 9.12%
2022 31.3% 19.7%
2021 9.97% 4.68%
2020 9.89% 1.2%
2019 7.14% 2.33%
2018 7.81% 2.7%
2017 12.4% 3.72%
2016 17.5% 0.91%
2015 17.1% -0.88%
2014 15.5% 0.1%
2013 11.7% 1.05%
2012 11.2% 3.09%
2011 8.73% 4.13%
2010 10.7% 1.32%
2009 19.2% 4.45%
2008 16.5% 10.9%
2007 10.7% 5.74%
2006 11.7% 3.74%
2005 15.4% 2.66%
2004 18% 1.16%
2003 29.8% -1.13%
2002 9.36% 0.28%
2001 41.5% 1.37%
2000 40.2% 0.98%
1999 4.87% 0.73%
1998 14.6% 5.07%
1997 27.9% 8.88%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Ghana has recorded an average annual inflation rate of 17.6%, compared with 3.53% in Lithuania. In 2024, inflation was 22.8% in Ghana and 0.72% in Lithuania.

Top exports between countries

Ghana
Export category Export value
Processed food, beverages & tobacco $709K
Raw agricultural goods $412K
Raw materials & minerals $393K
Wood & paper products $362K
Machinery & equipment $295K
Lithuania
Export category Export value
Raw materials & minerals $24M
Raw agricultural goods $16.3M
Processed food, beverages & tobacco $2.71M
Machinery & equipment $562K
Animal & marine products $367K
Textiles & consumer goods $202K
Chemicals & pharma $180K
Wood & paper products $143K
Metals $3K

Balance of trade

Ghana Lithuania
Current account balance
$1.68B
2024
$2.77B
2024
Current account balance ranking
49/190
2024
41/190
2024
Current account balance, % of GDP
+2.04%
2024
+3.27%
2024
Goods imports
$15.4B
2024
$43.8B
2024
Goods exports
$19.2B
2024
$38.9B
2024
Service imports
$11.5B
2024
$14.7B
2024
Service exports
$9.27B
2024
$24.3B
2024
Imports of goods and services, % of GDP
34.3%
2024
68.9%
2024
Exports of goods and services, % of GDP
35.5%
2024
74.1%
2024

Economic freedom indices

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

Ghana Lithuania
Economic freedom 57.3 75.3
Economic freedom ranking 118/197 18/197
Property rights 50.2 91.8
Government integrity 45.4 71.4
Judicial effectiveness 57.5 73.2
Tax burden 79.4 76.2
Government spending 84 57.3
Fiscal health 10.1 95.8
Business freedom 64.5 84.2
Labor freedom 54.9 58.1
Monetary freedom 56.7 76.7
Trade freedom 65.2 79.4
Investment freedom 60 70
Financial freedom 60 70

Economic freedom comparison by year

Ghana
Lithuania
1x
Year Economic freedom index
Ghana Lithuania
2026 57.3 75.3
2025 56 74.6
2024 55.8 72.9
2023 58 72.2
2022 59.8 75.8
2021 59.2 76.9
2020 59.4 76.7
2019 57.5 74.2
2018 56 75.3
2017 56.2 75.8
2016 63 75.2
2015 63 74.7
2014 64.2 73
2013 61.3 72.1
2012 60.7 71.5
2011 59.4 71.3
2010 60.2 70.3
2009 58.1 70
2008 57 70.9
2007 57.6 71.5
2006 55.6 71.8
2005 56.5 70.5
2004 59.1 72.4
2003 58.2 69.7
2002 57.2 66.1
2001 58 65.5
2000 58.1 61.9
1999 57.9 61.5
1998 57 59.4
1997 56.7 57.3
1996 57.7 49.7
1995 55.6 -

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

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

The Economic Freedom Index for Ghana is 57.3, ranking 118/197, compared to 75.3 for Lithuania, ranking 18/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ghana Lithuania
Services, % of GDP
40.9%
2024
63.6%
2024
Industry, % of GDP
31.5%
2024
23.4%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
2.57%
2024
GNI, Atlas method
$79.5B
2024
$78.4B
2024
GNI per capita, PPP
$7,720
2024
$53,920
2024
Total reserves including gold
$3.62B
2023
$7.41B
2024
Total reserves ranking
112/177
2023
86/177
2024
Net foreign direct investment
-$1.76B
2024
-$3.91B
2024
Net inflows of foreign direct investment
$1.77B
2024
$4.7B
2024
Net outflows of foreign direct investment
$5.37M
2024
$795M
2024
Servicing debt to the IMF, % of GNI
3.45%
2024
n/a
Poverty at national poverty lines
23.4%
2016
20.9%
2021
Gross capital formation, % of GDP
10%
2024
20.4%
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/ghana/lithuania | CC BY

Compare countries by 7 more topics

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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 (2022–2024, 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.