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Economy of Ghana vs Nepal compared: GDP & Debt

Updated on by Georank team

Ghana has a GDP of $82.3B compared to $42.9B for Nepal, ranking 80/197 and 101/197 by economy size, respectively.

Ghana has $57.9B in government debt (70.3% of GDP), compared to $20.7B (48.3% of GDP) in Nepal.

Ghana vs Nepal GDP by year

Ghana
Nepal
1x
Year GDP, current $
Ghana Nepal
2024 $82,308,110,386 $42,914,268,287
2023 $80,547,146,878 $41,047,772,331
2022 $73,919,003,210 $41,182,939,601
2021 $79,514,204,730 $36,924,841,394
2020 $70,008,243,860 $33,433,659,301
2019 $68,352,629,246 $34,186,180,699
2018 $67,259,353,966 $33,111,525,237
2017 $60,385,409,435 $28,971,588,940
2016 $56,144,179,398 $24,524,109,484
2015 $49,436,806,230 $24,360,801,287
2014 $54,678,533,806 $22,731,612,922
2013 $62,845,721,960 $22,162,204,925
2012 $41,271,701,061 $21,703,100,877
2011 $39,336,668,081 $21,573,872,421
2010 $32,197,655,567 $16,002,656,434
2009 $26,048,720,006 $12,854,985,464
2008 $28,679,383,241 $12,545,438,605
2007 $24,827,339,138 $10,325,618,017
2006 $20,885,037,597 $9,043,715,356
2005 $10,744,568,381 $8,130,258,378
2004 $8,881,417,907 $7,273,938,315
2003 $7,632,723,556 $6,330,473,097
2002 $6,166,197,848 $6,050,875,807
2001 $5,314,872,854 $6,007,055,042
2000 $4,982,850,662 $5,494,252,208
1999 $7,718,109,982 $5,033,642,384
1998 $7,482,069,162 $4,856,255,044
1997 $6,891,443,192 $4,918,691,917
1996 $6,932,991,739 $4,521,580,381
1995 $6,464,382,808 $4,401,104,418
1994 $5,446,383,727 $4,066,775,510
1993 $5,968,922,939 $3,660,041,667
1992 $6,416,103,926 $3,401,211,581
1991 $6,603,185,268 $3,921,476,085
1990 $5,889,106,573 $3,627,560,239
1989 $5,251,858,440 $3,525,225,787
1988 $5,197,765,032 $3,487,009,748
1987 $5,074,829,932 $2,957,255,380
1986 $5,735,677,434 $2,850,782,044
1985 $4,504,306,723 $2,619,913,956
1984 $4,412,279,843 $2,581,207,388
1983 $4,057,275,132 $2,447,174,803
1982 $4,035,994,398 $2,395,423,742
1981 $4,222,441,860 $2,275,583,317
1980 $4,445,228,216 $1,945,916,583
1979 $4,020,227,920 $1,851,250,008
1978 $3,662,478,185 $1,604,162,497
1977 $3,189,428,571 $1,382,400,000
1976 $2,765,254,237 $1,452,788,985
1975 $2,810,106,383 $1,575,789,254
1974 $2,894,409,938 $1,217,953,547
1973 $3,006,766,758 $972,101,725
1972 $2,112,293,280 $1,024,098,400
1971 $2,417,108,578 $882,765,472
1970 $2,215,028,588 $865,975,309
1969 $1,962,050,556 $788,641,965
1968 $1,666,909,518 $772,231,387
1967 $1,747,187,645 $841,974,025
1966 $2,126,300,672 $906,811,944
1965 $2,053,462,968 $735,267,082
1964 $1,731,296,200 $496,098,775
1963 $1,540,797,589 $496,947,904
1962 $1,382,515,654 $574,091,101
1961 $1,302,674,325 $531,959,562
1960 $1,217,230,095 $508,334,414

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

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

GDP per capita in Ghana vs Nepal by year

Ghana
GDP per capita

GDP per capita, PPP
Nepal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ghana Nepal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,391 $8,020 $1,447 $5,737
2023 $2,384 $7,556 $1,382 $5,395
2022 $2,230 $7,208 $1,386 $5,103
2021 $2,445 $6,608 $1,253 $4,546
2020 $2,195 $6,047 $1,154 $4,236
2019 $2,187 $6,003 $1,203 $4,261
2018 $2,195 $5,536 $1,179 $3,956
2017 $2,012 $5,171 $1,034 $3,605
2016 $1,912 $5,011 $877 $2,976
2015 $1,723 $5,191 $876 $2,957
2014 $1,950 $5,517 $821 $2,901
2013 $2,295 $5,215 $803 $2,658
2012 $1,544 $4,934 $788 $2,466
2011 $1,507 $4,381 $786 $2,248
2010 $1,264 $3,855 $585 $2,139
2009 $1,048 $3,617 $473 $2,029
2008 $1,183 $3,516 $465 $1,942
2007 $1,050 $3,241 $385 $1,809
2006 $906 $3,103 $340 $1,718
2005 $479 $2,904 $309 $1,628
2004 $406 $2,729 $279.6 $1,542
2003 $358 $2,584 $246.4 $1,453
2002 $297.5 $2,475 $238.9 $1,390
2001 $263.5 $2,397 $240.8 $1,388
2000 $253.7 $2,315 $223.8 $1,317
1999 $403 $2,239 $208.6 $1,234
1998 $400 $2,167 $205.1 $1,187
1997 $378 $2,097 $211.8 $1,162
1996 $389 $2,026 $198.8 $1,110
1995 $372 $1,947 $197.8 $1,058
1994 $321 $1,875 $187.3 $1,026
1993 $360 $1,821 $172.8 $952
1992 $396 $1,739 $165 $920
1991 $418 $1,678 $195.7 $889
1990 $383 $1,581 $185.8 $830
1989 $350 - $185 -
1988 $355 - $187.1 -
1987 $355 - $162 -
1986 $411 - $159.5 -
1985 $330 - $149.9 -
1984 $330 - $151.1 -
1983 $311 - $146.6 -
1982 $319 - $147 -
1981 $344 - $142.9 -
1980 $372 - $125.1 -
1979 $347 - $121.9 -
1978 $326 - $108.1 -
1977 $292.3 - $95.3 -
1976 $261 - $102.5 -
1975 $273 - $113.6 -
1974 $289.4 - $89.8 -
1973 $310 - $73.2 -
1972 $223.8 - $78.8 -
1971 $263.4 - $69.5 -
1970 $248.2 - $69.6 -
1969 $225.8 - $64.8 -
1968 $196.7 - $64.9 -
1967 $211.2 - $72.3 -
1966 $263.3 - $79.5 -
1965 $260.5 - $65.8 -
1964 $225 - $45.3 -
1963 $205 - $46.3 -
1962 $188.4 - $54.6 -
1961 $181.9 - $51.6 -
1960 $174.9 - $50.2 -

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

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

Ghana's GDP per capita is $2,391, ranking 151/197, compared to $1,447 in Nepal, ranking 164/197. Adjusted for purchasing power (GDP per capita PPP), Ghana ranks 140th at $8,020, while Nepal ranks 155th at $5,737.

Economic indicators

Ghana Nepal
Gross domestic product
$82.3B
2024
$42.9B
2024
GDP rank
80/197
2024
101/197
2024
GDP growth
5.59%
2023-2024
3.67%
2023-2024
GDP per capita
$2,391
2024
$1,447
2024
GDP per capita rank
151/197
2024
164/197
2024
GDP per capita, PPP
$8,020
2024
$5,737
2024
GDP per capita PPP rank
140/197
2024
155/197
2024
Government debt
$57.9B
2024
$20.7B
2024
Debt-to-GDP ratio
70.3%
2024
48.3%
2024
Government debt per person
$1,682
2024
$700
2024
Government debt per person rank
123/185
2024
154/185
2024
Average annual personal income after taxes
$2,110
2026
$2,170
2026
Market capitalization of domestic companies
$7.58B
2024
n/a
Number of billionaires n/a
2
2025
Income share by richest 10%
32.2%
2016
24.2%
2022
Income share by poorest 10%
1.6%
2016
3.7%
2022
Government expenditure, % of GDP
23.2%
2024
22.1%
2024
Consumer prices inflation
22.8%
2023-2024
4.69%
2023-2024
Central bank interest rate
25%
2025
n/a
Unemployment rate
2.87%
2022
10.7%
2017
Population
35885254
29596762

Spending and national debt comparison by year

Ghana
Spending

Debt
Nepal
Spending

Debt
1x
Year % of GDP
Ghana Nepal
Government spending Government debt Government spending Government debt
2024 23.2% 70.3% 22.1% 48.3%
2023 18.5% 79.1% 25.1% 47%
2022 27.5% 92.7% 26.1% 42.7%
2021 27.2% 86.9% 27.2% 43.3%
2020 31.5% 79.1% 28.5% 43.3%
2019 22.5% 62.9% 27.1% 34%
2018 20.9% 62% 28% 31.1%
2017 17.6% 57% 23.6% 25%
2016 19.9% 55.9% 19% 25%
2015 18.6% 53.9% 17.7% 25.7%
2014 21% 50.1% 16.6% 27.6%
2013 21.6% 42.9% 15.5% 31.9%
2012 22.1% 35.5% 16.8% 34.5%
2011 19.5% 31.2% 16.3% 32.4%
2010 19% 32.9% 16.5% 35.4%
2009 16.6% 25.4% 17% 39.5%
2008 16.6% 23.2% 13.4% 36.8%
2007 16.8% 21.1% 13.1% 37.9%
2006 14.4% 17.3% 11.2% 42.9%
2005 12.9% 31.7% 12% 45.1%
2004 13.7% 38.4% 11.8% 51.3%
2003 12.1% 49.3% 12% 53%
2002 10.7% 54.1% 13% 51.8%
2001 13.8% 57.8% 12.9% 50.8%
2000 12% 74.5% 11.4% 50.8%
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/ghana/nepal | CC BY

In 2024, Ghana's government spending was $19.1B, accounting for 23.2% of its GDP, while Nepal spent $9.5B, or 22.1% of GDP.

Debt-to-GDP ratio is 70.3% in Ghana and 48.3% in Nepal, ranking 57/185 and 112/185, respectively.

Government deficit by year

Deficit/surplus
Ghana

Nepal
1x
Year Deficit/surplus, % of GDP
Ghana Nepal
2024 -7.31% -2.76%
2023 -3.37% -5.81%
2022 -11.8% -3.12%
2021 -12% -3.98%
2020 -17.4% -7.47%
2019 -7.52% -4.27%
2018 -6.79% -5.83%
2017 -3.97% -2.69%
2016 -6.75% 1.2%
2015 -4.01% 0.46%
2014 -7.81% 1.36%
2013 -9.12% 1.57%
2012 -8.36% -1.18%
2011 -5.47% -0.72%
2010 -7.13% -0.67%
2009 -5.05% -2.24%
2008 -5.56% -0.29%
2007 -4.91% -0.67%
2006 -3.11% 0.24%
2005 -1.87% 0.24%
2004 -2.02% -0.14%
2003 -1.99% -0.34%
2002 -2.73% -2.46%
2001 -3.64% -2.35%
2000 -3.98% -1.48%
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/ghana/nepal | 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 Nepal's deficit of $1.19B, or 2.76% of GDP.

Over the past 25 years, Ghana recorded a fiscal deficit in 25 of those years, while Nepal ran a deficit in 19 years. On average, Ghana posted an annual deficit equal to 6.15% of GDP, compared to deficit of 1.74% of GDP for Nepal.

Inflation comparison by year

Inflation
Ghana

Nepal
1x
Year Consumer prices inflation
Ghana Nepal
2024 22.8% 4.69%
2023 38.1% 7.12%
2022 31.3% 7.67%
2021 9.97% 4.13%
2020 9.89% 5.06%
2019 7.14% 5.57%
2018 7.81% 4.41%
2017 12.4% 2.78%
2016 17.5% 8.79%
2015 17.1% 7.87%
2014 15.5% 8.36%
2013 11.7% 9.04%
2012 11.2% 9.46%
2011 8.73% 9.23%
2010 10.7% 9.33%
2009 19.2% 11.1%
2008 16.5% 9.91%
2007 10.7% 2.27%
2006 11.7% 6.92%
2005 15.4% 6.84%
2004 18% 2.84%
2003 29.8% 5.71%
2002 9.36% 3.03%
2001 41.5% 2.69%
2000 40.2% 2.48%
1999 4.87% 7.45%
1998 14.6% 11.2%
1997 27.9% 4.01%

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

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

Over the past 28 years, Ghana has recorded an average annual inflation rate of 17.6%, compared with 6.43% in Nepal. In 2024, inflation was 22.8% in Ghana and 4.69% in Nepal.

Top exports between countries

Ghana
Export category Export value
Raw agricultural goods $79K
Chemicals & pharma $1K
Nepal
Export category Export value
Machinery & equipment $5K

Balance of trade

Ghana Nepal
Current account balance
$1.68B
2024
$1.68B
2024
Current account balance ranking
49/190
2024
50/190
2024
Current account balance, % of GDP
+2.04%
2024
+3.91%
2024
Goods imports
$15.4B
2024
$12.1B
2024
Goods exports
$19.2B
2024
$1.54B
2024
Service imports
$11.5B
2024
$2.27B
2024
Service exports
$9.27B
2024
$1.9B
2024
Imports of goods and services, % of GDP
34.3%
2024
32.9%
2024
Exports of goods and services, % of GDP
35.5%
2024
7.62%
2024

Economic freedom indices

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

Ghana Nepal
Economic freedom 57.3 52.9
Economic freedom ranking 118/197 144/197
Property rights 50.2 38.8
Government integrity 45.4 38.9
Judicial effectiveness 57.5 42.9
Tax burden 79.4 84.3
Government spending 84 82.1
Fiscal health 10.1 71
Business freedom 64.5 60.8
Labor freedom 54.9 48.2
Monetary freedom 56.7 69.4
Trade freedom 65.2 58.6
Investment freedom 60 10
Financial freedom 60 30

Economic freedom comparison by year

Ghana
Nepal
1x
Year Economic freedom index
Ghana Nepal
2026 57.3 52.9
2025 56 52.5
2024 55.8 52.1
2023 58 51.4
2022 59.8 49.7
2021 59.2 50.7
2020 59.4 54.2
2019 57.5 53.8
2018 56 54.1
2017 56.2 55.1
2016 63 50.9
2015 63 51.3
2014 64.2 50.1
2013 61.3 50.4
2012 60.7 50.2
2011 59.4 50.1
2010 60.2 52.7
2009 58.1 53.2
2008 57 54.1
2007 57.6 54.4
2006 55.6 53.7
2005 56.5 51.4
2004 59.1 51.2
2003 58.2 51.5
2002 57.2 52.3
2001 58 51.6
2000 58.1 51.3
1999 57.9 53.1
1998 57 53.5
1997 56.7 53.6
1996 57.7 50.3
1995 55.6 -

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

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

The Economic Freedom Index for Ghana is 57.3, ranking 118/197, compared to 52.9 for Nepal, ranking 144/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ghana Nepal
Services, % of GDP
40.9%
2024
55.2%
2024
Industry, % of GDP
31.5%
2024
11.4%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
21.9%
2024
GNI, Atlas method
$79.5B
2024
$43.7B
2024
GNI per capita, PPP
$7,720
2024
$5,830
2024
Total reserves including gold
$3.62B
2023
$12.5B
2023
Total reserves ranking
112/177
2023
74/177
2023
Net foreign direct investment
-$1.76B
2024
-$56.9M
2024
Net inflows of foreign direct investment
$1.77B
2024
$56.9M
2024
Net outflows of foreign direct investment
$5.37M
2024
$0
2024
Servicing debt to the IMF, % of GNI
3.45%
2024
1.23%
2024
Poverty at national poverty lines
23.4%
2016
20.3%
2022
Gross capital formation, % of GDP
10%
2024
30.4%
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/nepal | CC BY

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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 (1962–1989, 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 (2021–2023, 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.