Recent provisional estimates from the Ghana Statistical Service indicate that there has been an expansion of the economy by 2.0% in the third quarter of 2023.
This expansion is lower than the 2022 average Gross Domestic Product (GDP) growth rate of 5% and 2.7%, recorded pre-pandemic.
The Agricultural and Services sectors also expanded by 5.9% and 2.0% respectively according
Read full articleto the Ghana Statistical Service. However, the Industry contracted by 4.3%.
All sectors in Agriculture except Forestry and Logging expanded by 6.9%, with the Crops sector registering the highest growth rate of 7.0%.
All the 10 sub-sectors in the Services sector expanded.
With a GDP growth rate of 17.3%, the Information and Communication sub-sector was the highest, this was followed by Accommodation and Food Services Activities which recorded a GDP growth rate of 11.2%.
Additionally, the Industry sub-sectors recorded -8.3% in Construction, -8.1% in Minning and Stone Quarrying, -1.8% in Electricity, and 2.1% in Manufacturing.
With a share of 42.1%, the Services sector remains the biggest, considering the size of the economy. They are followed by Industry and Agriculture with shares of 33.0 and 24.9% respectively.
The nominal Gross Domestic Product estimate at current prices in quarter 3, 2023 was estimated at GH¢212.36 billion.
Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.
Finance Minister, Ken Ofori-Atta
