Ghana’s GDP growth at 5.4 per cent in second quarter of 2018

By Samira Larbie/Elizabeth Dabson, GNA

Accra, Oct. 18, GNA – The year-on-year Gross
Domestic Product (GDP), including oil, slowed to 5.4 per cent in the second
quarter of 2018 compared to 11.1 per cent recorded for the second quarter of
2017.

Mr Baah Wadieh, the Acting Government
Statistician, who announced this at a news conference in Accra, said the
year-on-year industry sector recorded the highest growth of 11.1 per cent,
while the agriculture sector followed with 4.8 per cent and services with 0.5
per cent.

The quarter-on-quarter agriculture recorded
1.0 per cent, the industry sector followed with 2.7 per cent and services
recorded 0.1 per cent respectively

The oil GDP estimate at current prices at
purchaser’s value for the second quarter of 2018 was GH¢72,870.3 million
compared to GH¢62,734.7 million in the second quarter of 2017, he said.

Mr Wadieh said the non-oil GDP estimate at the
current prices for the second quarter of 2018 was GH¢69,260.4 million compared
to GH¢61,282.7 million in the second quarter of 2017.

Considering rebased GDP at constant 2013
prices, the Oil GDP estimate for the second quarter of 2018 was GH¢37,804.9
million compared to GH¢35, 869.3 million in the second quarter of 2017
including; oil and non-oil, he stated.

He said the Non-oil GDP at constant 2013
prices for the second quarter of 2018 was GH¢35,317.9 million compared to GH¢33,869.3
million in the second quarter of 2017.  

The sectoral GDP shares distribution in the
second quarter of 2018 for agriculture stood at 16.5 per cent, industry is 35.1
per cent and services records 48.4 per cent.

GNA

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