Agriculture Drives Ghana GDP Growth in Q1


The Ghanaian economy expanded 6.7 percent year-on-year in the first three months of 2014, compared with a 4.9 percent increase in the previous two quarters. Agriculture posted its fastest expansion in four years while the industrial sector contracted for the second straight quarter. In the same quarter of 2013, the economy advanced 9 percent.


The agricultural sector recorded the highest annual growth rate (12.7 percent), accelerating from a 3.4 percent expansion in the previous period. Livestock production expanded by 24.7 percent and fishing activities increased 20.0 percent.

The services sector grew 4.6 percent, slowing from a 7.2 percent increase in the previous quarter. Among services, financial and insurance activities grew the most (19.7 percent), followed by community, social and personal activities (10.7 percent) and information and communication (10.3 percent).

In contrast, the industry sector contracted 1.1 percent. Manufacturing fell 19.3 percent yoy, hurt by power and water disruptions.

On a quarter-on-quarter seasonally adjusted basis, the economy advanced 2.6 percent in the first three months of 2014, slowing slightly from a 2.7 percent expansion in the last three months of 2014. 

Agriculture Drives Ghana GDP Growth in Q1


Ghana Statistical Service | Isabel Felino | Isabel.felino@tradingeconomics.com
6/30/2014 6:31:15 PM