Ghana's economy records a 6.7 percent growth in the first quarter of 2019

The Ghana Statistical Service (GSS) has revealed that the Gross Domestic Product (GDP) of the country grew by 6.7% in the first quarter of 2019.

Ghana's economy records a 67 percent growth in the first quarter of 2019

This is a 1.3% increase compared to the same period in 2018 where GDP was 5.4%.

The Government Statistician, Professor Samuel Kobina Annim who was speaking at a press conference, after releasing the figures noted that the non-oil GDP growth for the first quarter of 2019 was at 6.0% year-on-year compared to a 4.2% recorded in the first quarter of 2018.

Breaking the figures down into sectors, he explained that the Services sector recorded a year-on-year quarterly GDP growth rate of 7.2%.

“The Information and Communication sub-sector recorded the highest year-on-year quarterly GDP growth rate of 37.0 percent while the Finance and Insurance sub-sector recorded the lowest growth of 2.1%," he noted.

The year-on-year quarterly GDP growth rate for the Industry sector was at 8.4% for the first quarter of 2019.

The Mining and Quarrying sub-sector recorded the highest year-on-year quarterly GDP growth rate of 20.9% for the same period in 2019, while the construction sub-sector recorded the lowest, with a contraction at -8.7%.

The year-on-year quarterly GDP growth rate for Agriculture was at 2.2% for the first quarter of 2019.

Also, the livestock sub-sector recorded the highest year-on-year growth rate of 5.5% while the Forestry and logging sub-sector recorded the lowest, with a contraction of -5.8%.

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