List of Figures
Figure 1: Ghanaian Defense Expenditure (in GHS Million), 2013-2022 23
Figure 2: Ghanaian Defense Expenditure (in US$ Million), 2013-2022 24
Figure 3: Ghanaian GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2013-2022 28
Figure 4: Ghanaian Defense Budget Split Between Capital and Revenue Expenditure (%), 2013-2022 30
Figure 5: Ghanaian Capital Budget Allocation (GHS Million), 2013-2022 32
Figure 6: Ghanaian Capital Budget Allocation (US$ Million), 2013-2022 32
Figure 7:Ghanaian Per-Capita Defense Expenditure (US$), 2013-2022 33
Figure 8: Ghanaian Homeland Security Budget (GHS Billion), 2013-2022 35
Figure 9: Ghanaian Homeland Security Budget (US$ Million), 2013-2022 36
Figure 10: Terrorism Heat Map, 2017 38
Figure 11: Terrorism Index, 2017 41
Figure 12: Benchmarking with Key Markets - 2013-2017 vs. 2018-2022 43
Figure 13: Defense Expenditure of the World’s Largest Military Spenders (US$ Billion), 2017 and 2022 44
Figure 14: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2017 45
Figure 15: Ghanaian Defense Import Trend, 2012-2016 (TIV values) 48
Figure 16: Ghanaian Defense Imports by Country (US$ Million), 2012-2016 49
Figure 17: Ghanaian Defense Imports by Weapon Category (%), 2012-2016 50
Figure 18: Industry Dynamics - Porter’s Five Forces Analysis 52
Figure 19: Ghana’s GDP per capita (US$), 2015-2025 59
Figure 20: Ghana’s Gross Domestic Product (current US$ Billion), 2015-2025 60
Figure 21: Ghana’s Exports of goods and services (LCU Billion), 2005-2014 61
Figure 22: Ghana’s Imports of goods and services (LCU Billion), 2005-2014 62
Figure 23: Ghana’s LCU per US$, 2015-2024 63
Figure 24: Ghana’s Market capitalization of listed companies (US$ Billion), 2005-2012 64
Figure 25: Ghana’s Market capitalization of listed companies (% GDP), 2005-2012 65
Figure 26: Ghanaian Government cash surplus/deficit as a % of GDP (LCU), 2005-2011 66
Figure 27: Ghana’s Goods Exports as a % of GDP, 2005-2013 67
Figure 28: Ghana’s Goods Imports as a % of GDP, 2005-2013 68
Figure 29: Ghana’s Services Imports as a % of GDP, 2005-2013 69
Figure 30: Ghana’s Services Exports as a % of GDP, 2005-2013 70
Figure 31: Ghana’s Net Foreign Direct Investment (BoP, current US$ Billion), 2005-2013 71
Figure 32: Ghana’s Net FDI as a percentage of GDP, 2005-2013 72
Figure 33: Ghana’s Mining, Manufacturing, Utilities Output (LCU Billion) 2005-2014 73

 

List of Tables
Table 1: Ghana Ground Forces Strength 16
Table 2: Ghana Air Force Strength 17
Table 3: Ghana Navy Strength 18
Table 4: Ghana - Ongoing Development and Procurement Programs 19
Table 5: Ghana - Future Procurement Programs 19
Table 6: Ghanaian Defense Expenditure (GHS Million & US$ Million), 2013-2022 23
Table 7: Ghanaian GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2013-2022 27
Table 8: Ghanaian Defense Budget Split between Capital and Revenue Expenditure (%), 2013-2022 29
Table 9: Ghanaian Defense Capital Expenditure (GHS Million & US$ Million), 2013-2022 31
Table 10: Ghanaian Per-Capita Defense Expenditure (US$), 2013-2022 33
Table 11: Ghanaian Homeland Security Expenditure (GHS Billion & US$ Million), 2013-2022 35
Table 12: Terrorism Index, 2017 39
Table 13: Benchmarking with Key Markets - 2013-2017 vs. 2018-2022 42
Table 14: Ghana Budgeting Process 54
Table 15: Defence Industries Corporation of Ghana - Main Products 58