Ghana GDP Growth Accelerates to 3.3% QoQ in Q2

In the second quarter of 2014, the Ghanaian economy expanded 3.3 percent over the previous quarter, compared with a 2.6 percent expansion in the previous period and driven by an increase in services activities.
Ghana Statistical Service | Ricardo Martins | ricardo.martins@tradingeconomics.com
10/23/2014 4:22:41 PM
On a quarter-on-quarter seasonally adjusted basis, the services sector increased 3.7 percent, recovering from a 4.1 percent contraction in the previous quarter. Growth was mainly driven by public administration activities (up 18.4 percent from a 7.3 decrease in the previous period) and transport and storage (up 4.7 percent from a 10.5 decrease).

The agricultural sector contracted for the first time in four quarters by 2.9 percent. Fishing activities decreased 10.3 percent and livestock production fell 34.5 percent. On the other hand, forestry and logging activities increased 8.9 percent and production of crops and cocoa grew 1 percent.

The industrial sector grew 1.6 percent, slightly down from a 1.7 percent increase in the previous quarter. Mining and quarrying rose 6.1 percent, construction expanded 2.9 percent, rebounding from a 2 percent drop in the previous quarter and water and sewage grew 1.5 percent. In contrast, manufacturing and electricity decreased by 5.4 percent and 1.8 percent respectively.

On a year-on-year basis, the GDP advanced 5.3 percent in the second quarter of 2014.

Ghana GDP Growth Accelerates to 3.3% QoQ in Q2



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