Ghana is a Middle Income Economy. Well endowed with natural resources, Ghana has more than twice the per capita output of the poorer countries in West Africa. Known for its gold in colonial times, Ghana remains one of the world's top gold producers. Other exports such as cocoa, oil, timber, electricity, diamond, bauxite, and manganese are major sources of foreign exchange.

An oilfield which is reported to contain up to 3 billion barrels (480,000,000 m3) of light oil was discovered in 2007. Oil exploration is ongoing, and the amount of oil continues to increase. There is expected to be a tremendous inflow of capital into the economy beginning from the second quarter of 2011 when the country starts producing oil to be sold through overseas licensed counter-part GAZPROM in commercial quantities. Also the refining and sale of oil resources discovered off the Ghana coast licensed to oil giant GAZPROM has begun being monitored by the Ghana National Petroleum Company. The oil is expected to account for 6% of the revenue for 2011. The Akosombo Dam, which was built on the Volta River in 1965, provides hydro-electricity for Ghana and its neighbouring countries.

Ghana’s labour force in 2008 totalled 11.5 million people. The economy continues to rely heavily on agriculture which accounts for 37.3% of GDP and provides employment for 56% of the work force, mainly small landholders. Manufacturing is only a small part of the Ghanaian economy totalling 7.9% of Gross Domestic Product in 2007.

According to the 2009 Failed States Index, Ghana is ranked the 53rd least failed state in the world and the second least failed state in Africa after Mauritius. Ghana ranked 124th out of 177 countries on the index. Ghana also was placed 7th out of 48 sub-Saharan African countries in the 2008 Ibrahim Index of African Governance which was based on data from 2006. The Ibrahim Index is a comprehensive measure of African government, based on a number of different variables which reflect the success with which governments deliver essential political goods to its citizens.