Ghana’s Economy Advances 2.7% QoQ in Q4

Ghana GDP growth accelerated to a quarter-on-quarter seasonally adjusted 2.7 percent in the last three months of 2013. Figures for the previous quarter were revised to show a 4.4 percent contraction, down from a 0.5 percent expansion initially reported.
Ghana Statistical Service | Isabel Felino | Isabel.felino@tradingeconomics.com
4/14/2014 3:47:48 PM
The agriculture sector grew 4.8 percent in the fourth quarter of 2013, up from 0.3 percent in the previous period, as livestock activities and fishing increased by 8.5 and 10.1 percent, respectively, helped by seasonal factors. In contrast, activity in crops and cocoa subsector shrank 0.3 percent, and forestry and logging contracted 12.5 percent, due to declines in food production and forest plantation investment.

Industry fell for the second consecutive quarter, but at a slower 1.3 percent, due to higher production of gold (+20.7 percent from -6.1 percent), manganese (+26.5 percent from -19.0 percent) and crude oil and related activities (+5.0 percent from -15.0 percent). On the other hand, manufacturing fell 19.0 percent after contracting 14.0 percent in the previous period, due to lower production of refined petroleum related products (-51.2 percent), rubber and plastics (-20.5 percent) and wood (-6.7 percent).

Services activities grew 2.1 percent, down from 3.6 percent, due to lower transport and storage activities, (4.1 percent from 6.2 percent), trade activities (-3.4 percent from 2.6 percent) and business activities (5.5 percent from 7.3 percent). However, public administration services rose 1.9 percent (from -2.6 percent) and education increased 5.7 percent (from 0.7 percent).

Year-on-year, the GDP expanded 4.9 percent in the fourth quarter of 2013, unchanged from the previous period growth rate.

Ghana’s Economy Advances 2.7% QoQ in Q4



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