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Economy of Ghana vs Vietnam compared: GDP & Debt

Updated on by Georank team

Ghana has a GDP of $82.3B compared to $476B for Vietnam, ranking 80/197 and 33/197 by economy size, respectively.

Ghana has $57.9B in government debt (70.3% of GDP), compared to $149B (31.3% of GDP) in Vietnam.

Ghana vs Vietnam GDP by year

Ghana
Vietnam
1x
Year GDP, current $
Ghana Vietnam
2024 $82,308,110,386 $476,388,230,307
2023 $80,547,146,878 $433,857,681,378
2022 $73,919,003,210 $413,445,230,669
2021 $79,514,204,730 $366,474,752,771
2020 $70,008,243,860 $346,615,738,538
2019 $68,352,629,246 $334,365,270,497
2018 $67,259,353,966 $310,106,478,395
2017 $60,385,409,435 $281,353,605,987
2016 $56,144,179,398 $257,096,001,178
2015 $49,436,806,230 $239,258,328,382
2014 $54,678,533,806 $233,451,469,643
2013 $62,845,721,960 $213,708,811,665
2012 $41,271,701,061 $195,590,661,129
2011 $39,336,668,081 $172,595,049,184
2010 $32,197,655,567 $147,201,173,197
2009 $26,048,720,006 $106,014,659,565
2008 $28,679,383,241 $99,130,304,099
2007 $24,827,339,138 $77,414,425,532
2006 $20,885,037,597 $66,371,664,817
2005 $10,744,568,381 $57,633,255,738
2004 $8,881,417,907 $45,427,854,693
2003 $7,632,723,556 $39,552,513,232
2002 $6,166,197,848 $35,064,105,501
2001 $5,314,872,854 $32,685,198,809
2000 $4,982,850,662 $31,172,518,403
1999 $7,718,109,982 $28,683,659,007
1998 $7,482,069,162 $27,209,602,050
1997 $6,891,443,192 $26,843,700,442
1996 $6,932,991,739 $24,657,470,575
1995 $6,464,382,808 $20,736,164,459
1994 $5,446,383,727 $16,286,433,533
1993 $5,968,922,939 $13,180,953,598
1992 $6,416,103,926 $9,866,990,236
1991 $6,603,185,268 $9,613,369,520
1990 $5,889,106,573 $6,471,740,806
1989 $5,251,858,440 $6,293,304,975
1988 $5,197,765,032 $25,423,812,649
1987 $5,074,829,932 $36,658,108,850
1986 $5,735,677,434 $26,336,616,250
1985 $4,504,306,723 $14,094,687,821
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/vietnam | CC BY

GDP per capita in Ghana vs Vietnam by year

Ghana
GDP per capita

GDP per capita, PPP
Vietnam
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ghana Vietnam
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,391 $8,020 $4,717 $16,386
2023 $2,384 $7,556 $4,323 $15,034
2022 $2,230 $7,208 $4,148 $13,905
2021 $2,445 $6,608 $3,704 $12,049
2020 $2,195 $6,047 $3,534 $11,609
2019 $2,187 $6,003 $3,441 $11,029
2018 $2,195 $5,536 $3,222 $10,010
2017 $2,012 $5,171 $2,956 $9,170
2016 $1,912 $5,011 $2,735 $8,375
2015 $1,723 $5,191 $2,578 $7,672
2014 $1,950 $5,517 $2,546 $7,297
2013 $2,295 $5,215 $2,360 $6,758
2012 $1,544 $4,934 $2,185 $6,377
2011 $1,507 $4,381 $1,951 $5,786
2010 $1,264 $3,855 $1,683 $5,389
2009 $1,048 $3,617 $1,226 $5,061
2008 $1,183 $3,516 $1,164 $4,844
2007 $1,050 $3,241 $926 $4,581
2006 $906 $3,103 $808 $4,237
2005 $479 $2,904 $711 $3,894
2004 $406 $2,729 $565 $3,543
2003 $358 $2,584 $497 $3,240
2002 $297.5 $2,475 $445 $3,002
2001 $263.5 $2,397 $419 $2,809
2000 $253.7 $2,315 $404 $2,614
1999 $403 $2,239 $376 $2,421
1998 $400 $2,167 $361 $2,308
1997 $378 $2,097 $362 $2,189
1996 $389 $2,026 $337 $2,019
1995 $372 $1,947 $287.8 $1,841
1994 $321 $1,875 $229.9 $1,674
1993 $360 $1,821 $189.4 $1,534
1992 $396 $1,739 $144.5 $1,413
1991 $418 $1,678 $143.7 $1,298
1990 $383 $1,581 $98.8 $1,210
1989 $350 - $98.1 -
1988 $355 - $405 -
1987 $355 - $595 -
1986 $411 - $436 -
1985 $330 - $238.6 -
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/vietnam | CC BY

Ghana's GDP per capita is $2,391, ranking 151/197, compared to $4,717 in Vietnam, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), Ghana ranks 140th at $8,020, while Vietnam ranks 108th at $16,386.

Economic indicators

Ghana Vietnam
Gross domestic product
$82.3B
2024
$476B
2024
GDP rank
80/197
2024
33/197
2024
GDP growth
5.59%
2023-2024
7.09%
2023-2024
GDP per capita
$2,391
2024
$4,717
2024
GDP per capita rank
151/197
2024
122/197
2024
GDP per capita, PPP
$8,020
2024
$16,386
2024
GDP per capita PPP rank
140/197
2024
108/197
2024
Government debt
$57.9B
2024
$149B
2024
Debt-to-GDP ratio
70.3%
2024
31.3%
2024
Government debt per person
$1,682
2024
$1,475
2024
Government debt per person rank
123/185
2024
132/185
2024
Average annual personal income after taxes
$2,110
2026
$4,020
2026
Market capitalization of domestic companies
$7.58B
2024
$205B
2024
Number of billionaires n/a
5
2025
Income share by richest 10%
32.2%
2016
28.1%
2022
Income share by poorest 10%
1.6%
2016
2.6%
2022
Government expenditure, % of GDP
23.2%
2024
19.1%
2024
Consumer prices inflation
22.8%
2023-2024
3.6%
2023-2024
Central bank interest rate
25%
2025
4.5%
2023
Unemployment rate
2.87%
2022
1.53%
2024
Population
35885254
102365351

Spending and national debt comparison by year

Ghana
Spending

Debt
Vietnam
Spending

Debt
1x
Year % of GDP
Ghana Vietnam
Government spending Government debt Government spending Government debt
2024 23.2% 70.3% 19.1% 31.3%
2023 18.5% 79.1% 18.8% 34.3%
2022 27.5% 92.7% 18.2% 34.9%
2021 27.2% 86.9% 20.1% 39.2%
2020 31.5% 79.1% 21.3% 41.3%
2019 22.5% 62.9% 19.8% 41%
2018 20.9% 62% 20.5% 43.8%
2017 17.6% 57% 21.5% 46.6%
2016 19.9% 55.9% 22.2% 47.9%
2015 18.6% 53.9% 24.2% 46.1%
2014 21% 50.1% 22.8% 43.6%
2013 21.6% 42.9% 24.5% 41.4%
2012 22.1% 35.5% 23.5% 38.3%
2011 19.5% 31.2% 21.2% 36.2%
2010 19% 32.9% 23.7% 37.3%
2009 16.6% 25.4% 25% 36.2%
2008 16.6% 23.2% 21.4% 31%
2007 16.8% 21.1% 22.3% 32.2%
2006 14.4% 17.3% 20.5% 30.2%
2005 12.9% 31.7% 20.6% 28.7%
2004 13.7% 38.4% 19.4% 29.4%
2003 12.1% 49.3% 22.2% 29.8%
2002 10.7% 54.1% 19.7% 27.7%
2001 13.8% 57.8% 19.2% 25.4%
2000 12% 74.5% 17.8% 24.8%
1999 11.1% 51.7% 16.7% -
1998 11.8% 37.6% 16% -
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/vietnam | CC BY

In 2024, Ghana's government spending was $19.1B, accounting for 23.2% of its GDP, while Vietnam spent $91.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 70.3% in Ghana and 31.3% in Vietnam, ranking 57/185 and 156/185, respectively.

Government deficit by year

Deficit/surplus
Ghana

Vietnam
1x
Year Deficit/surplus, % of GDP
Ghana Vietnam
2024 -7.31% -1.54%
2023 -3.37% -1.72%
2022 -11.8% 0.67%
2021 -12% -1.43%
2020 -17.4% -2.86%
2019 -7.52% -0.4%
2018 -6.79% -1.02%
2017 -3.97% -1.96%
2016 -6.75% -3.16%
2015 -4.01% -4.98%
2014 -7.81% -5.02%
2013 -9.12% -5.96%
2012 -8.36% -5.46%
2011 -5.47% -0.9%
2010 -7.13% -2.25%
2009 -5.05% -4.82%
2008 -5.56% -0.45%
2007 -4.91% -1.74%
2006 -3.11% 0.2%
2005 -1.87% -0.95%
2004 -2.02% -0.15%
2003 -1.99% -2.56%
2002 -2.73% -1.85%
2001 -3.64% -2.19%
2000 -3.98% -1.61%
1999 -5.64% -1.25%
1998 -5.27% -0.1%
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/vietnam | 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 Vietnam's deficit of $7.32B, or 1.54% of GDP.

Over the past 27 years, Ghana recorded a fiscal deficit in 27 of those years, while Vietnam ran a deficit in 25 years. On average, Ghana posted an annual deficit equal to 6.1% of GDP, compared to deficit of 2.05% of GDP for Vietnam.

Inflation comparison by year

Inflation
Ghana

Vietnam
1x
Year Consumer prices inflation
Ghana Vietnam
2024 22.8% 3.6%
2023 38.1% 3.3%
2022 31.3% 3.2%
2021 9.97% 1.8%
2020 9.89% 3.2%
2019 7.14% 2.8%
2018 7.81% 3.5%
2017 12.4% 3.5%
2016 17.5% 2.7%
2015 17.1% 0.6%
2014 15.5% 4.1%
2013 11.7% 6.6%
2012 11.2% 9.1%
2011 8.73% 18.7%
2010 10.7% 9.1%
2009 19.2% 6.7%
2008 16.5% 23.3%
2007 10.7% 8.4%
2006 11.7% 7.7%
2005 15.4% 8.3%
2004 18% 7.8%
2003 29.8% 3.1%
2002 9.36% 3.8%
2001 41.5% -0.4%
2000 40.2% -1.8%
1999 4.87% 4.1%
1998 14.6% 8.1%
1997 27.9% 3.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Ghana has recorded an average annual inflation rate of 17.6%, compared with 5.64% in Vietnam. In 2024, inflation was 22.8% in Ghana and 3.6% in Vietnam.

Top exports between countries

Ghana
Export category Export value
Raw agricultural goods $86.9M
Processed food, beverages & tobacco $1.52M
Wood & paper products $1.18M
Raw materials & minerals $1.08M
Machinery & equipment $248K
Animal & marine products $100K
Textiles & consumer goods $81K
Metals $43K
Chemicals & pharma $27K
Vietnam
Export category Export value
Raw agricultural goods $362M
Machinery & equipment $23.4M
Raw materials & minerals $17.9M
Chemicals & pharma $17M
Textiles & consumer goods $12.7M
Processed food, beverages & tobacco $11.2M
Metals $6.58M
Wood & paper products $1.73M
Animal & marine products $927K
Miscellaneous $556K

Balance of trade

Ghana Vietnam
Current account balance
$1.68B
2024
$28B
2024
Current account balance ranking
49/190
2024
18/190
2024
Current account balance, % of GDP
+2.04%
2024
+5.89%
2024
Goods imports
$15.4B
2024
$362B
2024
Goods exports
$19.2B
2024
$406B
2024
Service imports
$11.5B
2024
$36.2B
2024
Service exports
$9.27B
2024
$23.9B
2024
Imports of goods and services, % of GDP
34.3%
2024
83.7%
2024
Exports of goods and services, % of GDP
35.5%
2024
90.2%
2024

Economic freedom indices

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

Ghana Vietnam
Economic freedom 57.3 64.4
Economic freedom ranking 118/197 73/197
Property rights 50.2 47.3
Government integrity 45.4 39.2
Judicial effectiveness 57.5 31.3
Tax burden 79.4 80.9
Government spending 84 89.5
Fiscal health 10.1 96.9
Business freedom 64.5 70
Labor freedom 54.9 54.7
Monetary freedom 56.7 73.2
Trade freedom 65.2 79.8
Investment freedom 60 60
Financial freedom 60 50

Economic freedom comparison by year

Ghana
Vietnam
1x
Year Economic freedom index
Ghana Vietnam
2026 57.3 64.4
2025 56 65.2
2024 55.8 62.8
2023 58 61.8
2022 59.8 60.6
2021 59.2 61.7
2020 59.4 58.8
2019 57.5 55.3
2018 56 53.1
2017 56.2 52.4
2016 63 54
2015 63 51.7
2014 64.2 50.8
2013 61.3 51
2012 60.7 51.3
2011 59.4 51.6
2010 60.2 49.8
2009 58.1 51
2008 57 50.4
2007 57.6 49.8
2006 55.6 50.5
2005 56.5 48.1
2004 59.1 46.1
2003 58.2 46.2
2002 57.2 45.6
2001 58 44.3
2000 58.1 43.7
1999 57.9 42.7
1998 57 40.4
1997 56.7 38.6
1996 57.7 40.2
1995 55.6 41.7

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

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

The Economic Freedom Index for Ghana is 57.3, ranking 118/197, compared to 64.4 for Vietnam, ranking 73/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ghana Vietnam
Services, % of GDP
40.9%
2024
42.4%
2024
Industry, % of GDP
31.5%
2024
37.6%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
11.9%
2024
GNI, Atlas method
$79.5B
2024
$454B
2024
GNI per capita, PPP
$7,720
2024
$15,850
2024
Total reserves including gold
$3.62B
2023
$83.1B
2024
Total reserves ranking
112/177
2023
30/177
2024
Net foreign direct investment
-$1.76B
2024
-$19.6B
2024
Net inflows of foreign direct investment
$1.77B
2024
$20.2B
2024
Net outflows of foreign direct investment
$5.37M
2024
$600M
2024
Servicing debt to the IMF, % of GNI
3.45%
2024
7.29%
2024
Poverty at national poverty lines
23.4%
2016
4.2%
2022
Gross capital formation, % of GDP
10%
2024
30.6%
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/vietnam | 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 (2022–2023, 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.