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Ghana’s Economy Grows by 6.7 per cent in First Quarter of 2019

Ghana’s Gross Domestic Product (GDP) grew by 6.7 per cent (year-on-year) in the first quarter of 2019 compared to 5.4 percentage growth, recorded in the same period in 2018.

 

The non-oil and gas for the first quarter increased to 6.0 per cent compared to 4.2 per cent recorded in the same period last year.

 

Addressing the Press in Accra on Wednesday, Government Statistician, Prof Samuel Kobina Anim, pointed out that the industrial sector recorded the highest growth of 8.4 per cent, followed by the services sector with 7.2 per cent and the agriculture sector with 2.2 per cent.

 

He explained that the main drivers of growth in the GDP were information and communication which recorded a growth rate of 37.0 percent from 16.3 per cent in 2018, health and social work which recorded a slow growth rate of 22.1 per cent from 24.8 per cent in 2018.

 

The mining and quarry sector recorded a growth rate of 20.9 per cent from 24.6 per cent in 2018 whilst the utility sector recorded a lower of 1.1 per cent.

 

The Government Statistician added that the current trend in the agriculture sector was due to the fact that returns from government interventions peaked in 2017 and 2018 and this had contributed adversely to the growth in the sector.

 

“Negative contributors to the quarterly GDP growth came from the sub-sectors of Construction (-8.7%), Water Supply, Sewerage, Waste Management and Remediation activities (-6.4%), Forestry and Logging (-5.8%) and Fishing (-1.5%)”, Prof Anim disclosed.

 

Source: ISD (David Gomado)

 

Created: 24 June 2019
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