Research and Markets: Ghana Likely to Experience Good Growth and Reach an Estimated $70.4 Billion by 2018
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/hbhn6w/pestle_analysis) has announced the addition of the "PESTLE Analysis of Ghana 2013" report to their offering.
The service and the manufacturing sectors are the two major contributors to Ghana's GDP. Being the major source of income for the economy, the service sector made maximum contribution to the total GDP in 2012. In this sector, wholesale and retail, finance and insurance, information and communication, transport, and real estate and renting industries have emerged as the major contributors.
This report gives the insightful SWOT Analysis of Ghana. This report helps investors to easily understand the strengths, weaknesses, opportunities, and threats of Ghana's economy.
The report also discusses the challenges that the economy is likely to face. In spite of its significance, Ghana is lagging behind the other African countries as well as other developed countries such as the US, both in R&D investment as well as a number of scientific researches. Ghana's major environmental problems include water pollution, soil erosion, industrial pollution, and deforestation. These issues basically stem from poor farming practices, rapid urbanization, and steady rise of petroleum refining wastes.
The report also anticipates the key drivers. Geostrategic location of Ghana adds an edge to the economy. It is located in the Western Africa and provides easy access and proximity to potential markets such as ECOWAS (Economic Community of West African States). It helps in boosting international trade. Prudent fiscal policy management and effective monetary policy (low inflation rate, moderate foreign exchange reserves, and low interest rates) help in the growth of Ghana's economy.
Although the country faces a deficit in its current account, significant capital and financial account surpluses make Ghana less vulnerable to a BOP crisis in near future. The balance of payment is expected to be surplus and encourage stability of the exchange rate in the country. This surplus is expected to be derived from significant capital account surplus which has been sufficient in the recent years to finance the current account deficit. In the coming years, BOP is further expected to witness a positive balance.
For more information visit http://www.researchandmarkets.com/research/hbhn6w/pestle_analysis
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