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Economy of Ghana vs Saint Lucia compared: GDP & Debt

Updated on by Georank team

Ghana has a GDP of $82.3B compared to $2.55B for Saint Lucia, ranking 80/197 and 173/197 by economy size, respectively.

Ghana has $57.9B in government debt (70.3% of GDP), compared to $1.97B (77.2% of GDP) in Saint Lucia.

Ghana vs Saint Lucia GDP by year

Ghana
Saint Lucia
1x
Year GDP, current $
Ghana Saint Lucia
2024 $82,308,110,386 $2,549,062,963
2023 $80,547,146,878 $2,430,166,667
2022 $73,919,003,210 $2,342,714,815
2021 $79,514,204,730 $1,867,185,185
2020 $70,008,243,860 $1,499,274,074
2019 $68,352,629,246 $2,095,344,444
2018 $67,259,353,966 $2,060,955,556
2017 $60,385,409,435 $1,998,503,704
2016 $56,144,179,398 $1,868,544,444
2015 $49,436,806,230 $1,807,640,741
2014 $54,678,533,806 $1,749,185,185
2013 $62,845,721,960 $1,660,392,593
2012 $41,271,701,061 $1,598,207,407
2011 $39,336,668,081 $1,568,370,370
2010 $32,197,655,567 $1,482,385,185
2009 $26,048,720,006 $1,401,507,889
2008 $28,679,383,241 $1,437,731,111
2007 $24,827,339,138 $1,336,088,815
2006 $20,885,037,597 $1,268,319,185
2005 $10,744,568,381 $1,135,555,556
2004 $8,881,417,907 $1,066,666,667
2003 $7,632,723,556 $987,407,407
2002 $6,166,197,848 $900,000,000
2001 $5,314,872,854 $892,592,593
2000 $4,982,850,662 $932,592,593
1999 $7,718,109,982 $921,851,852
1998 $7,482,069,162 $877,407,407
1997 $6,891,443,192 $805,925,926
1996 $6,932,991,739 $788,888,889
1995 $6,464,382,808 $762,962,963
1994 $5,446,383,727 $713,703,704
1993 $5,968,922,939 $684,814,815
1992 $6,416,103,926 $674,074,074
1991 $6,603,185,268 $613,703,704
1990 $5,889,106,573 $579,629,630
1989 $5,251,858,440 $486,666,667
1988 $5,197,765,032 $429,629,630
1987 $5,074,829,932 $375,555,556
1986 $5,735,677,434 $340,000,000
1985 $4,504,306,723 $284,444,444
1984 $4,412,279,843 $251,481,481
1983 $4,057,275,132 $197,037,037
1982 $4,035,994,398 $183,333,333
1981 $4,222,441,860 $194,444,444
1980 $4,445,228,216 $170,370,370
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/saint-lucia | CC BY

GDP per capita in Ghana vs Saint Lucia by year

Ghana
GDP per capita

GDP per capita, PPP
Saint Lucia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ghana Saint Lucia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,391 $8,020 $14,182 $27,567
2023 $2,384 $7,556 $13,555 $25,975
2022 $2,230 $7,208 $13,104 $24,599
2021 $2,445 $6,608 $10,459 $19,101
2020 $2,195 $6,047 $8,411 $14,912
2019 $2,187 $6,003 $11,794 $18,710
2018 $2,195 $5,536 $11,643 $17,433
2017 $2,012 $5,171 $11,333 $16,131
2016 $1,912 $5,011 $10,638 $15,307
2015 $1,723 $5,191 $10,335 $14,353
2014 $1,950 $5,517 $10,045 $14,403
2013 $2,295 $5,215 $9,577 $14,010
2012 $1,544 $4,934 $9,260 $13,443
2011 $1,507 $4,381 $9,129 $13,471
2010 $1,264 $3,855 $8,674 $12,718
2009 $1,048 $3,617 $8,251 $12,600
2008 $1,183 $3,516 $8,517 $12,969
2007 $1,050 $3,241 $7,964 $12,199
2006 $906 $3,103 $7,611 $11,758
2005 $479 $2,904 $6,863 $10,818
2004 $406 $2,729 $6,495 $10,610
2003 $358 $2,584 $6,059 $9,707
2002 $297.5 $2,475 $5,568 $9,205
2001 $263.5 $2,397 $5,570 $9,106
2000 $253.7 $2,315 $5,880 $9,314
1999 $403 $2,239 $5,883 $9,214
1998 $400 $2,167 $5,673 $8,965
1997 $378 $2,097 $5,282 $8,456
1996 $389 $2,026 $5,244 $8,490
1995 $372 $1,947 $5,148 $8,222
1994 $321 $1,875 $4,892 $8,041
1993 $360 $1,821 $4,765 $7,865
1992 $396 $1,739 $4,760 $7,753
1991 $418 $1,678 $4,399 $7,127
1990 $383 $1,581 $4,205 $6,951
1989 $350 - $3,565 -
1988 $355 - $3,182 -
1987 $355 - $2,819 -
1986 $411 - $2,591 -
1985 $330 - $2,202 -
1984 $330 - $1,979 -
1983 $311 - $1,576 -
1982 $319 - $1,489 -
1981 $344 - $1,605 -
1980 $372 - $1,428 -
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/saint-lucia | CC BY

Ghana's GDP per capita is $2,391, ranking 151/197, compared to $14,182 in Saint Lucia, ranking 70/197. Adjusted for purchasing power (GDP per capita PPP), Ghana ranks 140th at $8,020, while Saint Lucia ranks 75th at $27,567.

Economic indicators

Ghana Saint Lucia
Gross domestic product
$82.3B
2024
$2.55B
2024
GDP rank
80/197
2024
173/197
2024
GDP growth
5.59%
2023-2024
3.89%
2023-2024
GDP per capita
$2,391
2024
$14,182
2024
GDP per capita rank
151/197
2024
70/197
2024
GDP per capita, PPP
$8,020
2024
$27,567
2024
GDP per capita PPP rank
140/197
2024
75/197
2024
Government debt
$57.9B
2024
$1.97B
2024
Debt-to-GDP ratio
70.3%
2024
77.2%
2024
Government debt per person
$1,682
2024
$10,952
2024
Government debt per person rank
123/185
2024
52/185
2024
Average annual personal income after taxes
$2,110
2026
$10,412
2026
Market capitalization of domestic companies
$7.58B
2024
n/a
Income share by richest 10%
32.2%
2016
34.1%
2015
Income share by poorest 10%
1.6%
2016
2.1%
2015
Government expenditure, % of GDP
23.2%
2024
24.5%
2024
Consumer prices inflation
22.8%
2023-2024
-0.11%
2023-2024
Central bank interest rate
25%
2025
n/a
Unemployment rate
2.87%
2022
10.1%
2024
Population
35885254
180638

Spending and national debt comparison by year

Ghana
Spending

Debt
Saint Lucia
Spending

Debt
1x
Year % of GDP
Ghana Saint Lucia
Government spending Government debt Government spending Government debt
2024 23.2% 70.3% 24.5% 77.2%
2023 18.5% 79.1% 25.6% 76.6%
2022 27.5% 92.7% 23% 74.4%
2021 27.2% 86.9% 27.4% 87%
2020 31.5% 79.1% 34.9% 100%
2019 22.5% 62.9% 25.1% 62.1%
2018 20.9% 62% 23.2% 60.5%
2017 17.6% 57% 23.3% 60.4%
2016 19.9% 55.9% 23% 61.3%
2015 18.6% 53.9% 23.7% 61.1%
2014 21% 50.1% 23.6% 62.4%
2013 21.6% 42.9% 25.4% 62.1%
2012 22.1% 35.5% 28% 60.8%
2011 19.5% 31.2% 27% 55.2%
2010 19% 32.9% 26% 53%
2009 16.6% 25.4% 24.5% 51%
2008 16.6% 23.2% 22.2% 46.7%
2007 16.8% 21.1% 22.6% 49.1%
2006 14.4% 17.3% 24.7% 48.6%
2005 12.9% 31.7% 26% 51.9%
2004 13.7% 38.4% 22.9% 49.6%
2003 12.1% 49.3% 22.9% 45.6%
2002 10.7% 54.1% 23.6% 48.8%
2001 13.8% 57.8% 22.1% 38.1%
2000 12% 74.5% 20.7% 32.5%
1999 11.1% 51.7% 20.9% 28.9%
1998 11.8% 37.6% 18.8% 29.4%
1997 12% 45.2% 19.5% 27.2%
1996 12.4% 42.9% 18.9% 24.1%
1995 13% 47.6% 19.2% 22.9%
1994 12.7% 50.6% 19.1% 23.8%
1993 12.1% 34.1% 21.8% 22.9%
1992 9.2% 21.3% 18.4% 22.2%
1991 7.09% 17.3% 18.4% 19.8%
1990 6.59% 17.8% 16.7% 17%
1989 7.24% 23% 19% 18.1%
1988 7.23% 23.5% 18.2% 18.6%
1987 7.32% 26.8% 19.9% 19.6%
1986 7.29% 18.2% 21.1% 17.2%
1985 6.08% 14.4% 20.4% 17.1%
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/saint-lucia | CC BY

In 2024, Ghana's government spending was $19.1B, accounting for 23.2% of its GDP, while Saint Lucia spent $625M, or 24.5% of GDP.

Debt-to-GDP ratio is 70.3% in Ghana and 77.2% in Saint Lucia, ranking 57/185 and 46/185, respectively.

Government deficit by year

Deficit/surplus
Ghana

Saint Lucia
1x
Year Deficit/surplus, % of GDP
Ghana Saint Lucia
2024 -7.31% -2.13%
2023 -3.37% -3.09%
2022 -11.8% -1.67%
2021 -12% -5.1%
2020 -17.4% -12%
2019 -7.52% -3.51%
2018 -6.79% -1.03%
2017 -3.97% -1.14%
2016 -6.75% -0.79%
2015 -4.01% -2.35%
2014 -7.81% -3.08%
2013 -9.12% -4.84%
2012 -8.36% -7.62%
2011 -5.47% -5.38%
2010 -7.13% -4.17%
2009 -5.05% -2.67%
2008 -5.56% -0.72%
2007 -4.91% -1.62%
2006 -3.11% -5.07%
2005 -1.87% -6.18%
2004 -2.02% -2.63%
2003 -1.99% -3.23%
2002 -2.73% -3.1%
2001 -3.64% -3.08%
2000 -3.98% -1.16%
1999 -5.64% 1.62%
1998 -5.27% 2.25%
1997 -6.14% -1.13%
1996 -5.61% -0.58%
1995 -4.52% -0.13%
1994 -4.99% -0.02%
1993 -5.39% -0.26%
1992 -4.5% -0.66%
1991 -1.47% -0.43%
1990 -1.93% 0.29%
1989 -0.81% 0.89%
1988 -1.08% 2.02%
1987 -0.92% 0.56%
1986 -1.26% -1.61%
1985 -1.19% -1.5%
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/saint-lucia | 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 Saint Lucia's deficit of $54.2M, or 2.13% of GDP.

Over the past 40 years, Ghana recorded a fiscal deficit in 40 of those years, while Saint Lucia ran a deficit in 34 years. On average, Ghana posted an annual deficit equal to 5.11% of GDP, compared to deficit of 2.15% of GDP for Saint Lucia.

Inflation comparison by year

Inflation
Ghana

Saint Lucia
1x
Year Consumer prices inflation
Ghana Saint Lucia
2024 22.8% -0.11%
2023 38.1% 4.07%
2022 31.3% 6.38%
2021 9.97% 2.41%
2020 9.89% -1.76%
2019 7.14% 0.54%
2018 7.81% 1.94%
2017 12.4% 0.1%
2016 17.5% -3.08%
2015 17.1% -0.98%
2014 15.5% 3.52%
2013 11.7% 1.47%
2012 11.2% 4.18%
2011 8.73% 2.77%
2010 10.7% 3.25%
2009 19.2% -0.16%
2008 16.5% 5.55%
2007 10.7% 2.82%
2006 11.7% 2.4%
2005 15.4% 3.9%
2004 18% 1.46%
2003 29.8% 1.03%
2002 9.36% -0.26%
2001 41.5% 5.31%
2000 40.2% 3.71%
1999 4.87% 3.5%
1998 14.6% 3.2%
1997 27.9% -0.006%

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

GeoRank.org/economy/ghana/saint-lucia | CC BY

Over the past 28 years, Ghana has recorded an average annual inflation rate of 17.6%, compared with 2.04% in Saint Lucia. In 2024, inflation was 22.8% in Ghana and -0.11% in Saint Lucia.

Top exports between countries

Ghana
Export category Export value
Wood & paper products $83K
Animal & marine products $17K
Chemicals & pharma $13K
Processed food, beverages & tobacco $1K
Raw agricultural goods $1K
Saint Lucia
Export category Export value
Miscellaneous $19K

Balance of trade

Ghana Saint Lucia
Current account balance
$1.68B
2024
-$64.1M
2024
Current account balance ranking
49/190
2024
86/190
2024
Current account balance, % of GDP
+2.04%
2024
-2.52%
2024
Goods imports
$15.4B
2024
$848M
2024
Goods exports
$19.2B
2024
$137M
2024
Service imports
$11.5B
2024
$598M
2024
Service exports
$9.27B
2024
$1.46B
2024
Imports of goods and services, % of GDP
34.3%
2024
n/a
Exports of goods and services, % of GDP
35.5%
2024
19%
2025

Economic freedom indices

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

Ghana Saint Lucia
Economic freedom 57.3 67.5
Economic freedom ranking 118/197 57/197
Property rights 50.2 64.3
Government integrity 45.4 59.7
Judicial effectiveness 57.5 77.3
Tax burden 79.4 77.7
Government spending 84 82.6
Fiscal health 10.1 80
Business freedom 64.5 71.9
Labor freedom 54.9 65.2
Monetary freedom 56.7 81
Trade freedom 65.2 60
Investment freedom 60 50
Financial freedom 60 40

Economic freedom comparison by year

Ghana
Saint Lucia
1x
Year Economic freedom index
Ghana Saint Lucia
2026 57.3 67.5
2025 56 67
2024 55.8 62.2
2023 58 60.7
2022 59.8 64.3
2021 59.2 67.5
2020 59.4 68.2
2019 57.5 68.7
2018 56 67.6
2017 56.2 65
2016 63 70
2015 63 70.2
2014 64.2 70.7
2013 61.3 70.4
2012 60.7 71.3
2011 59.4 70.8
2010 60.2 70.5
2009 58.1 68.8
2008 57 -
2007 57.6 -
2006 55.6 -
2005 56.5 -
2004 59.1 -
2003 58.2 -
2002 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/ghana/saint-lucia | CC BY

The Economic Freedom Index for Ghana is 57.3, ranking 118/197, compared to 67.5 for Saint Lucia, ranking 57/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ghana Saint Lucia
Services, % of GDP
40.9%
2024
75.9%
2024
Industry, % of GDP
31.5%
2024
9.75%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
1.13%
2024
GNI, Atlas method
$79.5B
2024
$2.27B
2024
GNI per capita, PPP
$7,720
2024
$24,840
2024
Total reserves including gold
$3.62B
2023
$406M
2024
Total reserves ranking
112/177
2023
162/177
2024
Net foreign direct investment
-$1.76B
2024
-$187M
2024
Net inflows of foreign direct investment
$1.77B
2024
$187M
2024
Net outflows of foreign direct investment
$5.37M
2024
-$350K
2024
Servicing debt to the IMF, % of GNI
3.45%
2024
3.42%
2024
Poverty at national poverty lines
23.4%
2016
25%
2016
Gross capital formation, % of GDP
10%
2024
n/a

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/saint-lucia | 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 (1962–1989, 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 (2019–2023, 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.