Ghana GDP Advances 2.6% QoQ in Q1

In the first quarter of 2014, the Ghanaian economy expanded 2.6 percent over the previous quarter, driven livestock, forestry and fishing activities.
Ghana Statistical Service | Isabel Felino | Isabel.felino@tradingeconomics.com
6/30/2014 6:30:07 PM
The agricultural sector expanded 3.6 percent quarter-on-quarter, down from a 4.8 percent increase in the last three months of 2013. Production of crops and cocoa grew 0.8 percent. Forestry and logging activities surged 19.0 percent; fishing activities rose 14.1 percent and livestock production gained 4.5 percent.

The industrial sector grew 1.9 percent, after contracting in the previous two quarters. Mining and quarrying advanced 8.4 percent, even though gold production declined 21.7 percent. The manufacturing subsector contracted 0.1 percent, partly due to lower production of food and beverages, rubber and plastic products, and manufacture of non-metallic products. Production also declined for electricity (-1.8 percent), water and sewerage (-3.1 percent) and construction (-2.0 percent).

The services sector contracted for the first time in four quarters by 1.8 percent, hurt by public administration activities (-7.3 percent), financial and insurance (-3.9 percent), information and communication activities (-1.7 percent).

Compared with the same quarter of 2013, the GDP advanced 6.7 percent in the first quarter of 2014.

Ghana GDP Advances 2.6% QoQ in Q1



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