Ghana’s economic system grew by 5.7 % in 2024, marking a rise from a revised 3.1 % development seen in 2023, provisional figures launched by the Ghana Statistical Service has revealed.
Nevertheless, the expansion price for the fourth quarter of 2024 plummeted to three.6 % from 7.2 % within the third quarter of 2024.
The Providers sector continues to be the most important of the Ghanaian economic system with a share of 47 % of Gross Home Product at fundamental costs.
That is adopted by Trade and Agriculture, having recorded a development price of 30.8 % and 22.2 % respectively.
Authorities statistician Professor Samuel Kobina Annim attributed the autumn within the development price of the fourth quarter to contraction in numerous sectors, together with the mining and quarrying sector.
“The autumn within the development price for the fourth quarter was on account of some contraction inside the agriculture sector and trade sector of the economic system”, he mentioned.
Below the Trade sector, mining and quarrying sub-sector in addition to Oil and Fuel sector noticed some contraction which affected the general development of Ghana’s economic system with -8.2 and -8.7 % 12 months on 12 months respectively.
Additionally, the cocoa sub-sector underneath the Agriculture sector continued to path for the fourth time in a row with -21.4 % contraction within the fourth quarter of 2024.
In the meantime, Data and Communication expanded probably the most inside the providers sector with well being and social work contract within the fourth quarter of the 12 months.
DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially signify the views or coverage of Multimedia Group Restricted.
Source link
