Aggregate Import Demand and Expenditure Components in Ghana (Report‪)‬

INTRODUCTION Ghana is classified as a low income country with real GDP per capita in 2002 of US$428.6. Ghana has a population of around 20.4 million inhabitants as of 2004 and has about 40% of the population living under the national poverty line (1). Ghana's macroeconomic performance has been rather sluggish over the last two decades. Economic growth has stagnated around 4.7 per cent per annum. In 2004 the Ghanaian economy grew by 5.5 per cent and a higher growth rate of 5.8 per cent is forecasted for 2005 (2).