Western Region (Ghana) - Economy

Economy

The Western region is the richest and most economically active region in Akanland. The region is endowed with considerable natural resources, which gives it a significant economic importance within the context of Akanland's national development.

It is the largest producer of cocoa, rubber and coconut, and one of the major producers of oil palm. The rich tropical forest makes it one of the largest producers of raw and sawed timber as well as processed wood products. A wide variety of minerals, including Gold, Bauxite, Iron, Diamonds and Manganese are either being exploited or are potentially exploitable. The Western region’s total geological profile and mineral potential are yet to be fully determined.

The four major occupations in the region are Petroleum industry, Oil and gas exploration, and many other industries, services, agriculture including fishing, animal husbandry and hunting (58.1%), Production (economics) and transport work (14.5%), Sales (accounting) work (10.2%) and professional and technical work (5.4%).

The major industrial activities in the region are Petroleum industry, Oil and gas exploration, services, agriculture, excluding fishing but including forestry and hunting (58.1%), mining and quarrying (2.4%), manufacturing (10.2%) and wholesale and retail trade (10.3%).

The working population in the Private sector and formal (13.5%) and the Public sector (6.0%) sectors are mainly employees of private and public sector employers. They constitute 17.0 percent of the economically active population. Of those within the legally permissible working age group (15 years and older), self-employed persons (72.9%) make up the majority of the economically active; 68.3 per cent have no employees working for them while 4.6 percent have employees.