Ghana Credit to GDP
Domestic credit to private sector as % of GDP FS.AST.PRVT.GD.ZS
Ghana's credit to gdp was 9.06% in 2025, ranked 146th globally. This represents a 4.1% decrease from 2024. Data from World Bank, covering 1960–2025.
Overview
Ghana's credit to gdp stood at 9.06% in 2025, a decline of +0.39% from 2023. Based on recent trends, this figure is projected to reach 9.06% by 2025. Ghana ranked 146th globally.
Ghana’s credit to GDP ratio has risen from a low of 1.54 in 1983 to a peak of 18.07 in 2012, before moderating to 9.06 in 2025, placing the country 146th in the World Bank’s global ranking. Over the 65‑year series, the indicator more than doubled from its 1960 level of 4.57, reflecting expanded access to formal financing and government borrowing during periods of fiscal consolidation and infrastructure investment. The post‑peak decline suggests a gradual deleveraging after the rapid credit expansion of the early 2010s, a pattern also observed in peer economies such as Nigeria, where credit to GDP stood at 9.46 in the same year. Compared with regional neighbours like Libya (8.85) and The Gambia (9.72), Ghana remains near the median of West African credit markets. If fiscal discipline is maintained and private sector demand for financing strengthens, the ratio could resume a modest upward trajectory, whereas a resurgence of external debt pressures would likely curb further growth.
Data & projection
| Year | Credit to GDP | YoY change | Rank |
|---|---|---|---|
| 2026* trend | 8.18% | - | - |
| 2025* trend | 9.06% | - | - |
| 2025 | 9.06% | −0.39% | #146 |
| 2023 | 9.45% | −3.84% | #11 |
| 2022 | 13.29% | +0.23% | #23 |
| 2021 | 13.05% | −0.00% | #24 |
| 2020 | 13.06% | −0.88% | #20 |
| 2019 | 13.94% | +0.22% | #25 |
| 2018 | 13.71% | −2.39% | #25 |
| 2017 | 16.10% | −1.34% | #32 |
| 2016 | 17.44% | −0.50% | #30 |
| 2015 | 17.93% | +1.43% | #30 |
| 2014 | 16.50% | +1.21% | #32 |
| 2013 | 15.29% | −2.78% | #33 |
| 2012 | 18.07% | +0.88% | #42 |
| 2011 | 17.20% | +0.53% | #42 |
| 2010 | 16.66% | −1.08% | #39 |
Detected Pattern
Analysis
Ghana matched the Currency Crisis Pattern pattern in 2023. Historically, 27% of countries showing this pattern (35 out of 128) saw credit to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Ghana's credit to gdp was 9.06% in 2025. Ranked 146th globally. This represents a 4.1% decrease from the previous year.
Ghana's credit to gdp peaked at 18.07% in 2012.
The lowest credit to gdp in Ghana was 1.54% in 1983.
Ghana ranks 146th globally in credit to gdp as of 2025.
The World Bank indicator code is FS.AST.PRVT.GD.ZS. Data sourced from World Bank.
Ghana's credit to gdp is projected to reach 9.06% by 2025 based on trend extrapolation.
The credit to gdp of Ghana in 2025 was 9.06%. This ranks 146th in the world.
Cite this page
@misc{historysaid_ghana_credit-to-gdp,
title = {Ghana Credit to GDP},
url = {https://historysaid.com/ghana/credit-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}