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Ghana vs South Korea: Economic Indicators Comparison

South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Ghana ranked 73rd with $65.6B. By GDP 5-years average growth and GDP per capita, South Korea and Ghana ranked 93rd vs 46th and 33rd vs 142nd, respectively.

Gross Domestic Product & Income

StatGhanaSouth Korea
GDP$65.6B$1.6T
GDP growth, 1 year5.6%2.7%
GDP growth, 5-years average4.5%3%
Population28.3M51.1M
GDP per capita$2.2k$31k
GDP per capita growth3.96%2.33%
Purchasing Power Parity conversion factor2.13860.51
Price level ratio of PPP conversion factor GDP to market exchange rate0.460.78
GDP per capita, PPP adjusted$6.5k$41k
GNI, Atlas method$63.4B$1.6T
GNI per capita$2.1k$31k
GNI, PPP adjusted$138.5B$2.1T
GNI per capita, PPP adjusted$4.7k$40k

Financial system and Human development

StatGhanaSouth Korea
Income Tax Rate35%42%
Corporate Tax Rate25%25%
Inflation, consumer prices9.8%1.5%
Inflation, GDP deflator10.2%0.3%
Unemployment6.7%3.8%
Economic Freedom Index59.474
Personal Freedom Index7.648.84
Human Freedom Index7.218.15
Property Rights Index52.582.5
Judical Effectiveness Index46.161
Business Freedom Index58.490.5
Fiscal Health Index35.696.7
Labor Freedom Index59.356.2
Investment Freedom Index7070
Financial Freedom Index6070
Trade Freedom Index63.880
Monetary Freedom Index68.982.1
Government Spending Index88.167.7
Tax Burden Index78.463.9
Government Integrity Index32.267.5
Corruption Perceptions Index4157
Life expectancy at birth, years63.582.6
Suicide mortality rate, per 100,000 people5.426.9
Mortality caused by road traffic injury, per 100,000 people24.99.8
Intentional homicides, per 100,000 people2.10.6
International tourism, number of arrivals897k15.3M

Government debt & reserves

StatGhanaSouth Korea
Central government debt, % of GDP59.6%40.7%
External debt stocks, % of GNI36.3%N/A
External debt stocks$23.3BN/A
Short-term debt, % of total reserves57.7%N/A
Total debt service, % of exports and primary income9.4%N/A
Adjusted net savings including particulate emission damage, % of GNI-8.4%20.1%
Gross savings, % of GDP21%34.7%
Gross capital formation, % of GDP14.9%30.2%
Total reserves including gold$6.3B$403.1B
Foreign direct investment net inflows$3B$14.5B

Exports, imports and economic structure

StatGhanaSouth Korea
Exports of goods and services, % of GDP35.3%44%
Imports of goods and services, % of GDP36.4%39%
Current account balance (balance of payments)-$2B$76.4B
Revenue excluding grants, % of GDP27.2%27.8%
Grants excluding technical cooperation, BoP$713.6M$6.7M
Personal remittances received$3.5B$7.1B
Industry including construction value added, % of GDP31.5%35.1%
Agriculture, forestry and fishing value added, % of GDP18.3%2%
Charges for the use of intellectual property, payments BoP$700k$9.9B
Charges for the use of intellectual property, receipts BoPN/A$7.8B
Expense, % of GDP30.5%25.4%
Government Expenditure, % of GDP20%32.8%

Compare with countries close by GDP per capita

Ghana vs

CountryGDP
per capita
Population
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
754k
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M
Palestine
$3.2k
4.68M
Vanuatu
$3.1k
276k
Philippines
$3.1k
101M
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
850k
Papua New Guinea
$2.7k
7.32M
Vietnam
$2.6k
94.7M
Egypt
$2.5k
94.8M
Laos
$2.5k
6.77M
Honduras
$2.5k
8.1M
Congo
$2.1k
5.26M
Zimbabwe
$2.1k
14.1M
Solomon Islands
$2.1k
561k
East Timor
$2k
1.18M
Syria
$2k
19.8M
Nicaragua
$2k
6.22M
Nigeria
$2k
191M
India
$2k
1.35B
Sao Tome and Principe
$2k
193k
Ivory Coast
$1.7k
20.3M
Kenya
$1.7k
48.5M
North Korea
$1.7k
24.9M
Bangladesh
$1.7k
157M
Kiribati
$1.6k
102k
Zambia
$1.5k
17.1M

South Korea vs

CountryGDP
per capita
Population
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k
Brunei
$32k
418k
Spain
$30k
46.5M
Malta
$30k
423k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.33M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k