Ghana GDP Expands 6.1% YoY in Q2

In the second quarter of 2013, Ghanaian economy grew 6.1 percent over the previous year, slower than the 6.7 percent growth rate recorded in the first three months of 2013. While the services sector grew the most, agricultural production contracted.

The services sector increased 9.2 percent year-on-year, boosted by growth in financial and insurance activities (27.5 percent), information and communication (24.5 percent) and public administration (19.7 percent). 

The industrial sector expanded 2.5 percent, mainly due to mining and quarrying (29.1 percent), electricity (9.4 percent) and construction (6.8 percent).

In contrast, the agricultural sector shrank by 3.9 percent yoy. Fishing was the only subsector with positive growth (2.9 percent), while crops and cocoa production (-1.4 percent), livestock (-12.6 percent) and forestry and logging (-8.6 percent) activities contributed negatively to the sector.

On a quarter-on-quarter seasonally adjusted basis, the GDP growth acelerated to 3.9 percent in the second quarter of 2013, from a 3.1 percent contraction in the first quarter. 

Ghana GDP Expands 6.1% YoY in Q2

Ghana Statistical Service | Joana Taborda |
9/26/2013 6:16:23 PM