Ghana Q3 2013 GDP Disappoints

In the third quarter of 2013, Ghana’s GDP growth slowed sharply to 0.3 percent year-on-year from 6.1 percent in the previous quarter, hurt by lower gold and oil production.

Compared with the same quarter of 2012, the services sector recorded the highest growth (6.7 percent), while the agriculture sector contracted for the second consecutive quarter by 3.8 percent. 

The industrial sector accounts for around 27 percent of total production, out of which 7.9 percent stands for mining and quarrying activities. A sharp fall in global gold prices has affected production in the industrial sector which shrank 11.8 percent

The government targeted 7.4 percent growth rate for 2013 and projects 8 percent growth for 2014.

Ghana Q3 2013 GDP Disappoints

Joana Taborda |
2/3/2014 2:44:23 PM