Ghanaâ€™s economy was ranked 73rd in the world in terms of Gross Domestic Product (GDP) in the year 2019.
According to the World Bank, Ghanaâ€™s economy stood at about US$67 billion in size in 2019, making it the 8th biggest economy on the African continent.
The countryâ€™s economy was also ranked 141st in terms of GDP per capita and 143rd most complex economy, according to the Bretton Wood institutionâ€™s Economic Complexity Index.
This calls for a more decisive and swift action to push the economy to a better position as there is huge disparity between the size of the economy and its per capita income.
Due to COVID-19, the countryâ€™s total value of goods and services shrank to about US$63 billion dollars last year, though there are expectations that it will expand to US$70 billion by the end of the year.
The economy is expected to grow at a rate of 4.6% this year; and that will be driven by sub sectors such as Information and Communication, Real Estate, Crops and Livestock.
Presently, the services sector is the biggest with an estimated size of a little above GHÂ¢172 billion. It is followed by industry which is about GHÂ¢140 billion in size and agriculture which is estimated at about GHÂ¢73.8 billion.
Globally, the United States of America is the biggest economy with a size of US$21.43 trillion.
China and Japan follow in second and third with economic sizes of about US$14 and US$5 trillion dollars respectively.