GSS Records 69 GDP Growth

The Ghana Statistical Service (GSS) has revealed that the country’s economy grew by 6.9% in the second quarter of 2024.

Figures released by the GSS said seasonally adjusted, the country’s provisional real GDP increased by 1.6% in 2024 Q2 -April to June- compared to Q1 2024; this was 0.4 percentage points higher than what was recorded in Q1 2024 -January to March.

Compared to the first quarter of 2024, the economy grew at 4.7 percent.

The Services sector continues to be the largest contributor to the growth in the second quarter of 2024 with 44.2 percent.

This is followed by the Industry sector with a contribution of 32.2 percent and the Agriculture sector with 23.6 percent.

The sub-sector, which expanded the most under the Services sector was information and communication, recording 12.8 percent year on year, and by 2.9 percent quarter on quarter.

Mining and Quarrying subsector expanded by 14.8 percent year and year and 3.8 percent quarter on quarter in quarter two of 2024.

The agriculture sub-sector saw crops expanding with 6.4 percent.

However, some subsectors experienced contractions during the period.

Forestry and Logging subsector had a growth of -5.2 percent, Water supply, sewerage, waste management and Remediation activities also recorded a contraction rate of -9.6 percent.

Personal services activities under the services sector had a contraction of -3.1 percent.