Ghana GDP Expands 4.9% YoY in Q4

Ghana's economy advanced 4.9 percent year-on-year in the fourth quarter of 2013. It is the slowest expansion since the third quarter of 2010. Considering the full year, the GDP expanded 7.1 percent.

The GDP grew at the same pace recorded in the previous three-month period since growth figures for the third quarter were revised upwards. Improved data showed the economy advanced 4.9 percent in the September quarter, up from an initially reported 0.3 percent.

Although the services sector grew the most at 7.2 percent in the last three months of 2013, it slowed from 9.4 percent in the previous period. Agriculture expanded at a slower 3.4 percent (5.7 percent in the third quarter of 2013), while industry contracted 1.6 percent, following a 1.4 percent increase.

For full 2013 and including oil production, the GDP grew at a slower 7.1 percent, down from a 7.4 percent government target, and 8.8 percent in 2012. The services sector recorded the highest growth of 8.9 percent, followed by industry (+7.0 percent) and agriculture (+5.2 percent).

Excluding oil production, the economy grew at 6.5 percent in 2013.

Ghana GDP Expands 4.9% YoY in Q4

Ghana Statistical Service | Isabel Felino |
4/14/2014 3:46:31 PM