 Why is Ghana so rich? Ghana is located in the heart of Africa's Gold Coast, with a 535-kilometer coastline that contains lagoons and mangrove forests. The country's tropical climate ranges from a Sudanese-like environment in the north with a brief rainy season to the forested Ginyan and Gainio-Kongolian regions in the southwest, which have a high rainfall regime. Ghana's economy has traditionally been driven by cocoa exports, and the country is now one of the world's major cocoa exporters. Agriculture continues to be a major source of income for roughly half of Ganyans. Natural resources are abundant in the country. Ghana is one of the richer countries in West Africa, thanks to timber, gold, diamonds, bauxite, manganese, and oil. Despite having one of the most prosperous economies in the region, it is nevertheless significantly reliant on international funding. Ghana, like most West African countries, faces significant environmental issues due to its reliance on natural resources for economic development. To facilitate increased cocoa production, large swaths of deep forest have been removed. Localized land degradation and water contamination are caused by mining, a fourth of the population lies along the limited beach strip. In today's video, we will be giving reasons why we think Ghana has got a lot of riches and how these riches are contributing to the growth of the nation. To bring out these reasons, we will be looking at the economy and also contributions from other sectors, like the mining, manufacturing, and touristic sectors. Stay connected as we discover more about Ghana's riches. The economy of Ghana. Ghana's economy is broad and wealthy in resources, including industries such as digital technology production and exportation, automotive and ship construction and exportation. And the exportation of various and rich resources, such as hydrocarbons and industrial minerals. Ghana now has one of the highest GDP per capita in West Africa as a result of these factors. Ghana became the world's fastest growing economy in 2011 as a result of a GDP rebasement. In 2012, the Ganyan domestic economy was centered on services, which accounted for 50% of GDP and employed 28% of the workforce. Aside from mineral and oil related industrialization, Ghana's industrial development is still quite rudimentary, with plastics being a common example, such as for chairs, plastic bags, razors, and pens. Agriculture employed 53.6% of Ghana's workforce in 2013. Ghana is Africa's top-goal producer, surpassing South Africa in 2019 and the continent's second-largest cocoa producer after Ivory Coast. Diamonds, manganese ore, bauxite, and oil are also abundant. Contributions from the manufacturing industry. Ghana has a well-developed industrial base. Electronics manufacture is an example of an import substitution industry. RLG Communications is West Africa's largest information and communications technology and mobile phone manufacturing company, and the first indigenous African company to build laptops, desktops, and mobile phones. Ghana's automotive industry began with the production of the Smaddy Turtle One, a prototype rugged SUV designed for use in the harsh African terrain. Suin Magazine industrial development organizations Artisans designed and manufactured it. Since 2014, Ghana has been producing urban electric vehicles. Akasambo Textiles Limited, Textile Ghana Limited, Printex Ghana, and Ghana Textile Manufacturing Company were the four biggest textile enterprises in Ghana in 2012. Exploration, exploitation, and refining of crude oil and gas are handled by Ghana National Petroleum Corporation and Ghana Oil Company. Contributions from the agricultural sector. Agriculture accounted for 53.6% of Ghana's overall labor force. In 2013, agribusiness contributes only a minor portion of the country's total domestic output. Corn, plantain, rice, millet, sorghum, cassava, and yam are the most often harvested crops. The crop sector, unlike the agricultural livestock, forestry, and fishery sectors, is critical to Ghana's agricultural industry. Ghana produced the following in 2018. 20.8 million tons of cassava, fourth largest producer in the world, trailing only Nigeria, Thailand, and Congo. 7.8 million tons of yam, second largest producer in the world, trailing only Nigeria, 4.1 million tons of plantain, second largest producer in the world, trailing only Congo. 2.6 million tons of palm oil, eighth largest producer in the world, 2.3 million tons maize, 1.4 million tons taro, fourth largest producer in the world, behind Nigeria, China, and Cameroon. 947,000 tons cocoa, second largest producer in the world, behind Ivory Coast, 769,000 tons rice, 753,000 tons orange, 19th largest producer in the world, 713,000 tons pineapple, 11th largest producer in the world, 521,000 tons peanut. Other agricultural goods such as sweet potato, 151,000 tons, natural rubber, 23,000 tons, and tobacco are produced in lower quantities, 2.3,000 tons. Contributions from the tourism sector. The Ministry of Tourism has placed a strong emphasis on continued tourism growth and support. In 2009, tourism accounted for 4.9% of GDP, with roughly 500,000 visitors. Ghana's many castles and forts, national parks, beaches, natural reserves, landscapes, and world heritage monuments and sites are all popular tourist destinations. Ghana was named the 10th nicest country in the world by Forbes magazine in 2011. The claim was based on a 2010 survey of a diverse group of tourists. Ghana was placed first out of all the African countries that were included in the poll. Except for select entrepreneurs on business travels, entering Ghana requires a visa issued by the Gyanning government. Today, the tourism sector boosts about 20% of Ghana's economy and brings in about 600,000 visitors from every nation across the globe. Contributions from imports and exports. Crude petroleum, $2.66 billion. Gold, $2.39 billion. Ghana's main exports in 2016. Switzerland, $1.73 billion. China, $1.06 billion. France, $939 million. India, $789 million. And the Netherlands, $778 million. Ghana's main export destinations in 2018. Refined petroleum, $2.18 billion. Crude petroleum, $546 million. Gold, $428 million. Rice, $328 million. And packaged medicaments, $297 million. Ghana's top import categories in 2016. China, $4.1 billion. The Netherlands, $1.58 billion. The United States, $1.1 billion. Nigeria, $920 million. And India, $668 million. With the top importers to Ghana in 2021. For a country to be rich, there are certain contributions needed from the various sectors in order to necessitate growth. Riches are not measured by physical cash, but by the natural resources of a nation. Ghana has got a great percentage of natural resources, which are being exploited on a daily basis subsequently contributing to the country's resources. As the days go by, Ghana's riches keep growing on a rapid scale regardless of infrastructural development. Thanks for watching. We hope you enjoyed this video. 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