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Economy of Ghana vs Syria compared: GDP & Debt

Updated on by Georank team

Ghana has a GDP of $82.3B compared to $20B for Syria, ranking 80/197 and 129/197 by economy size, respectively.

Ghana has $57.9B in government debt (70.3% of GDP), compared to $18.4B (30% of GDP) in Syria.

Ghana vs Syria GDP by year

Ghana
Syria
1x
Year GDP, current $
Ghana Syria
2024 $82,308,110,386 -
2023 $80,547,146,878 $19,993,439,950
2022 $73,919,003,210 $23,622,827,080
2021 $79,514,204,730 $14,353,205,678
2020 $70,008,243,860 $12,047,752,036
2019 $68,352,629,246 $22,583,045,060
2018 $67,259,353,966 $21,497,782,868
2017 $60,385,409,435 $16,369,843,352
2016 $56,144,179,398 $12,597,854,877
2015 $49,436,806,230 $16,466,863,117
2014 $54,678,533,806 $21,502,061,466
2013 $62,845,721,960 $21,361,254,635
2012 $41,271,701,061 $43,190,318,033
2011 $39,336,668,081 $67,539,428,159
2010 $32,197,655,567 $61,390,830,875
2009 $26,048,720,006 $54,111,735,629
2008 $28,679,383,241 $52,557,913,569
2007 $24,827,339,138 $40,465,318,382
2006 $20,885,037,597 $33,751,788,856
2005 $10,744,568,381 $28,858,965,517
2004 $8,881,417,907 $25,086,950,495
2003 $7,632,723,556 $21,828,144,686
2002 $6,166,197,848 $20,669,357,462
2001 $5,314,872,854 $20,237,024,725
2000 $4,982,850,662 $18,937,052,543
1999 $7,718,109,982 $15,873,875,969
1998 $7,482,069,162 $15,200,846,154
1997 $6,891,443,192 $14,505,233,463
1996 $6,932,991,739 $13,789,560,878
1995 $6,464,382,808 $11,396,706,587
1994 $5,446,383,727 $10,122,020,000
1993 $5,968,922,939 $13,695,962,055
1992 $6,416,103,926 $13,253,565,861
1991 $6,603,185,268 $12,981,833,333
1990 $5,889,106,573 $12,308,624,418
1989 $5,251,858,440 $9,853,395,762
1988 $5,197,765,032 $10,577,041,645
1987 $5,074,829,932 $11,356,215,543
1986 $5,735,677,434 $13,293,205,278
1985 $4,504,306,723 $16,403,539,893
1984 $4,412,279,843 $17,503,078,174
1983 $4,057,275,132 $17,589,277,143
1982 $4,035,994,398 $16,298,929,011
1981 $4,222,441,860 $15,518,201,335
1980 $4,445,228,216 $13,062,420,382
1979 $4,020,227,920 $9,929,681,529
1978 $3,662,478,185 $9,275,200,458
1977 $3,189,428,571 $7,696,011,396
1976 $2,765,254,237 $7,633,528,867
1975 $2,810,106,383 $6,826,980,444
1974 $2,894,409,938 $5,159,557,148
1973 $3,006,766,758 $3,239,487,516
1972 $2,112,293,280 $3,059,681,698
1971 $2,417,108,578 $2,589,851,325
1970 $2,215,028,588 $2,140,384,010
1969 $1,962,050,556 $2,245,011,515
1968 $1,666,909,518 $1,753,746,430
1967 $1,747,187,645 $1,580,229,799
1966 $2,126,300,672 $1,342,287,553
1965 $2,053,462,968 $1,472,036,540
1964 $1,731,296,200 $1,339,494,267
1963 $1,540,797,589 $1,200,447,408
1962 $1,382,515,654 $1,110,565,881
1961 $1,302,674,325 $945,244,972
1960 $1,217,230,095 $857,704,413

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

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

GDP per capita in Ghana vs Syria by year

Ghana
GDP per capita

GDP per capita, PPP
Syria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ghana Syria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,391 $8,020 - -
2023 $2,384 $7,556 $847 $4,650
2022 $2,230 $7,208 $1,052 $4,772
2021 $2,445 $6,608 $664 $4,593
2020 $2,195 $6,047 $572 $3,738
2019 $2,187 $6,003 $1,110 $3,502
2018 $2,195 $5,536 $1,098 $3,456
2017 $2,012 $5,171 $852 $3,265
2016 $1,912 $5,011 $656 -
2015 $1,723 $5,191 $848 -
2014 $1,950 $5,517 $1,061 -
2013 $2,295 $5,215 $986 -
2012 $1,544 $4,934 $1,898 -
2011 $1,507 $4,381 $2,952 -
2010 $1,264 $3,855 $2,731 -
2009 $1,048 $3,617 $2,462 -
2008 $1,183 $3,516 $2,429 -
2007 $1,050 $3,241 $1,938 -
2006 $906 $3,103 $1,719 -
2005 $479 $2,904 $1,534 -
2004 $406 $2,729 $1,368 -
2003 $358 $2,584 $1,220 -
2002 $297.5 $2,475 $1,183 -
2001 $263.5 $2,397 $1,187 -
2000 $253.7 $2,315 $1,138 -
1999 $403 $2,239 $978 -
1998 $400 $2,167 $961 -
1997 $378 $2,097 $941 -
1996 $389 $2,026 $918 -
1995 $372 $1,947 $780 -
1994 $321 $1,875 $712 -
1993 $360 $1,821 $993 -
1992 $396 $1,739 $990 -
1991 $418 $1,678 $1,000 -
1990 $383 $1,581 $978 -
1989 $350 - $809 -
1988 $355 - $898 -
1987 $355 - $997 -
1986 $411 - $1,208 -
1985 $330 - $1,544 -
1984 $330 - $1,706 -
1983 $311 - $1,776 -
1982 $319 - $1,703 -
1981 $344 - $1,676 -
1980 $372 - $1,458 -
1979 $347 - $1,146 -
1978 $326 - $1,108 -
1977 $292.3 - $951 -
1976 $261 - $976 -
1975 $273 - $904 -
1974 $289.4 - $707 -
1973 $310 - $459 -
1972 $223.8 - $448 -
1971 $263.4 - $393 -
1970 $248.2 - $335 -
1969 $225.8 - $364 -
1968 $196.7 - $293.3 -
1967 $211.2 - $272.9 -
1966 $263.3 - $239.3 -
1965 $260.5 - $270.8 -
1964 $225 - $254.2 -
1963 $205 - $234.9 -
1962 $188.4 - $223.9 -
1961 $181.9 - $196.3 -
1960 $174.9 - $183.5 -

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

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

Ghana's GDP per capita is $2,391, ranking 151/197, compared to $847 in Syria, ranking 185/197. Adjusted for purchasing power (GDP per capita PPP), Ghana ranks 140th at $8,020, while Syria ranks 160th at $4,650.

Economic indicators

Ghana Syria
Gross domestic product
$82.3B
2024
$20B
2023
GDP rank
80/197
2024
129/197
2023
GDP growth
5.59%
2023-2024
-1.21%
2022-2023
GDP per capita
$2,391
2024
$847
2023
GDP per capita rank
151/197
2024
185/197
2023
GDP per capita, PPP
$8,020
2024
$4,650
2023
GDP per capita PPP rank
140/197
2024
160/197
2023
Government debt
$57.9B
2024
$18.4B
2010
Debt-to-GDP ratio
70.3%
2024
30%
2010
Government debt per person
$1,682
2024
$820
2010
Government debt per person rank
123/185
2024
148/185
2010
Average annual personal income after taxes
$2,110
2026
$730
2026
Market capitalization of domestic companies
$7.58B
2024
n/a
Income share by richest 10%
32.2%
2016
21.1%
2022
Income share by poorest 10%
1.6%
2016
3.8%
2022
Government expenditure, % of GDP
23.2%
2024
28.6%
2010
Consumer prices inflation
22.8%
2023-2024
13.4%
2018-2019
Central bank interest rate
25%
2025
n/a
Unemployment rate
2.87%
2022
8.61%
2010
Population
35885254
26829400

Spending and national debt comparison by year

Ghana
Spending

Debt
Syria
Spending

Debt
1x
Year % of GDP
Ghana Syria
Government spending Government debt Government spending Government debt
2024 23.2% 70.3% - -
2023 18.5% 79.1% - -
2022 27.5% 92.7% - -
2021 27.2% 86.9% - -
2020 31.5% 79.1% - -
2019 22.5% 62.9% - -
2018 20.9% 62% - -
2017 17.6% 57% - -
2016 19.9% 55.9% - -
2015 18.6% 53.9% - -
2014 21% 50.1% - -
2013 21.6% 42.9% - -
2012 22.1% 35.5% - -
2011 19.5% 31.2% - -
2010 19% 32.9% 28.6% 30%
2009 16.6% 25.4% 26.7% 31.2%
2008 16.6% 23.2% 22.9% 37.3%
2007 16.8% 21.1% 25.7% 42.7%
2006 14.4% 17.3% 26.3% 45%
2005 12.9% 31.7% 28.2% 50.7%
2004 13.7% 38.4% 31.3% 113%
2003 12.1% 49.3% 32.6% 133.4%
2002 10.7% 54.1% 28.5% 132.4%
2001 13.8% 57.8% 28% 144.5%
2000 12% 74.5% 27.4% 152.1%
1999 11.1% 51.7% 28% 147.7%
1998 11.8% 37.6% 28.8% 151.2%
1997 12% 45.2% 29% 147.6%
1996 12.4% 42.9% 27.7% 141.5%
1995 13% 47.6% 29.8% 152.6%
1994 12.7% 50.6% 30.3% 163%
1993 12.1% 34.1% 29.4% 171.9%
1992 9.2% 21.3% 34.2% 173.6%
1991 7.09% 17.3% 34.3% 182.4%
1990 6.59% 17.8% 28.3% 189.8%
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/syria | CC BY

In 2024, Ghana's government spending was $19.1B, accounting for 23.2% of its GDP, while Syria spent $17.6B, or 28.6% of GDP.

Debt-to-GDP ratio is 70.3% in Ghana and 30% in Syria, ranking 57/185 and 157/185, respectively.

Government deficit by year

Deficit/surplus
Ghana

Syria
1x
Year Deficit/surplus, % of GDP
Ghana Syria
2024 -7.31% -
2023 -3.37% -
2022 -11.8% -
2021 -12% -
2020 -17.4% -
2019 -7.52% -
2018 -6.79% -
2017 -3.97% -
2016 -6.75% -
2015 -4.01% -
2014 -7.81% -
2013 -9.12% -
2012 -8.36% -
2011 -5.47% -
2010 -7.13% -7.79%
2009 -5.05% -2.89%
2008 -5.56% -2.86%
2007 -4.91% -2.99%
2006 -3.11% -1.12%
2005 -1.87% -4.41%
2004 -2.02% -4.18%
2003 -1.99% -2.7%
2002 -2.73% -2.02%
2001 -3.64% 2.3%
2000 -3.98% -1.36%
1999 -5.64% -1.47%
1998 -5.27% -2.81%
1997 -6.14% -1.78%
1996 -5.61% -2.83%
1995 -4.52% -3.81%
1994 -4.99% -6%
1993 -5.39% -4.96%
1992 -4.5% -7.26%
1991 -1.47% -6.57%
1990 -1.93% -3.92%
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/syria | CC BY

In 2010, Ghana's government deficit, the difference between spending and revenue, was $2.3B, equivalent to 7.13% of GDP. This compares to Syria's deficit of $4.78B, or 7.79% of GDP.

Over the past 21 years, Ghana recorded a fiscal deficit in 21 of those years, while Syria ran a deficit in 20 years. On average, Ghana posted an annual deficit equal to 4.16% of GDP, compared to deficit of 3.4% of GDP for Syria.

Inflation comparison by year

Inflation
Ghana

Syria
1x
Year Consumer prices inflation
Ghana Syria
2024 22.8% -
2023 38.1% -
2022 31.3% -
2021 9.97% -
2020 9.89% -
2019 7.14% 13.4%
2018 7.81% 0.94%
2017 12.4% 18.1%
2016 17.5% 47.7%
2015 17.1% 38.5%
2014 15.5% 10.9%
2013 11.7% 40%
2012 11.2% 36.7%
2011 8.73% 4.75%
2010 10.7% 4.4%
2009 19.2% 2.92%
2008 16.5% 15.7%
2007 10.7% 3.91%
2006 11.7% 10%
2005 15.4% 7.24%
2004 18% 4.43%
2003 29.8% 5.8%
2002 9.36% -0.13%
2001 41.5% 3%
2000 40.2% -3.85%
1999 4.87% -3.7%
1998 14.6% -0.8%
1997 27.9% 1.89%

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

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

Over the past 23 years, Ghana has recorded an average annual inflation rate of 16.5%, compared with 11.4% in Syria. In 2019, inflation was 22.8% in Ghana and 13.4% in Syria.

Top exports between countries

Ghana
Export category Export value
Processed food, beverages & tobacco $53K
Syria
Export category Export value
Processed food, beverages & tobacco $4.44M
Textiles & consumer goods $404K
Chemicals & pharma $301K
Machinery & equipment $80K
Metals $68K
Wood & paper products $29K
Raw materials & minerals $19K
Animal & marine products $10K
Miscellaneous $2K

Balance of trade

Ghana Syria
Current account balance
$1.68B
2024
-$367M
2010
Current account balance ranking
49/190
2024
103/190
2010
Current account balance, % of GDP
+2.04%
2024
-0.6%
2010
Goods imports
$15.4B
2024
$15.9B
2010
Goods exports
$19.2B
2024
$12.3B
2010
Service imports
$11.5B
2024
$3.53B
2010
Service exports
$9.27B
2024
$7.33B
2010
Imports of goods and services, % of GDP
34.3%
2024
28.8%
2022
Exports of goods and services, % of GDP
35.5%
2024
6.81%
2022

Economic freedom indices

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

Ghana Syria
Economic freedom 57.3 51.2
Economic freedom ranking 118/197 155/197
Property rights 50.2 4
Government integrity 45.4 3.6
Judicial effectiveness 57.5 3.7
Tax burden 79.4 87.3
Government spending 84 78.5
Fiscal health 10.1 13.8
Business freedom 64.5 33.8
Labor freedom 54.9 37.2
Monetary freedom 56.7 80
Trade freedom 65.2 47
Investment freedom 60 0
Financial freedom 60 20

Economic freedom comparison by year

Ghana
Syria
1x
Year Economic freedom index
Ghana Syria
2026 57.3 -
2025 56 -
2024 55.8 -
2023 58 -
2022 59.8 -
2021 59.2 -
2020 59.4 -
2019 57.5 -
2018 56 -
2017 56.2 -
2016 63 -
2015 63 -
2014 64.2 -
2013 61.3 -
2012 60.7 51.2
2011 59.4 51.3
2010 60.2 49.4
2009 58.1 51.3
2008 57 47.2
2007 57.6 48.3
2006 55.6 51.2
2005 56.5 46.3
2004 59.1 40.6
2003 58.2 41.3
2002 57.2 36.3
2001 58 36.6
2000 58.1 37.2
1999 57.9 39
1998 57 42.2
1997 56.7 43
1996 57.7 42.3
1995 55.6 -

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

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

The Economic Freedom Index for Ghana is 57.3, ranking 118/197, compared to 51.2 for Syria, ranking 155/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ghana Syria
Services, % of GDP
40.9%
2024
44.9%
2022
Industry, % of GDP
31.5%
2024
12%
2022
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
43.1%
2022
GNI, Atlas method
$79.5B
2024
$18.2B
2023
GNI per capita, PPP
$7,720
2024
$4,480
2023
Total reserves including gold
$3.62B
2023
$20.6B
2010
Total reserves ranking
112/177
2023
62/177
2010
Net foreign direct investment
-$1.76B
2024
-$1.47B
2010
Net inflows of foreign direct investment
$1.77B
2024
$0
2024
Net outflows of foreign direct investment
$5.37M
2024
$0
2024
Servicing debt to the IMF, % of GNI
3.45%
2024
0.15%
2023
Poverty at national poverty lines
23.4%
2016
35.2%
2007
Gross capital formation, % of GDP
10%
2024
16%
1969

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/syria | 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 (2010–2022, 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.