Ghana-Economy-Growth

Ghana's economy grew by 3.3% in 1Q - Prof. Annim

APA – Accra (Ghana)

The Government Statistician, Prof. Samuel Kobina Annim, has announced that Ghana’s economy grew by 3.3 percent in the first quarter of 2022.

Prof. Annim, who announced the provisional real Gross Domestic Product (GDP) in volume terms on Wednesday, said that the growth was driven by Information and Communication (1.0%), Crops and Cocoa (0.9%), Transport and Storage (0.4%), Manufacturing (0.3%) and Trade: Repair of Vehicles, Household goods (0.3%).

According to him, Ghana's real GDP increased by 0.9% in the first quarter of 2022; representing 1.0 percentage points lower than the figure recorded in the fourth quarter of 2021.

He explained that the Services sector remained the largest sector of the economy with a 45 percent share of GDP, while the GDP share of Industry and Agriculture were 32 percent and 23 percent respectively.

Local media reports on Thursday quoted Prof Annim as saying that the main sectors with more than 10 percent expansion in the first quarter of 2022 were Information and Communication (26.6%); Fishing (26.1%); Water Supply, Sewerage, Waste Management & Remediation Activities (25.4%) and Electricity (15.9%).

He stated that seven sub-sectors led by Professional, Administrative & Support Service activities (-12.8%) and Public Administration, Defense and Social Security (-9.8%) contracted.

He disclosed that the remaining sectors that contracted during the period were Real Estate (-2.6%), Construction (-2.6%), Education (2.0%), Health and Social Work (-1.0) and Forestry & Logging (-0.1%).

GIK/APA

GIK/APA

React to this article