{"id":1207750,"date":"2022-09-20T12:12:38","date_gmt":"2022-09-20T12:12:38","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/09\/20\/economy-expands-by-4-8-in-quarter-2-2022\/"},"modified":"2022-09-20T12:12:38","modified_gmt":"2022-09-20T12:12:38","slug":"economy-expands-by-4-8-in-quarter-2-2022","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/09\/20\/economy-expands-by-4-8-in-quarter-2-2022\/","title":{"rendered":"Economy expands by 4.8% in quarter 2, 2022"},"content":{"rendered":"

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Ghana\u2019s economy expanded by 4.8% in the second quarter of this year, higher than the 3.4% recorded in the first quarter.<\/p>\n

The appreciable growth rate was driven by Manufacturing (8.8%), Crops and Cocoa (4.5%), Mining and Quarrying (4.4%), Information and Communication (12.4%) as well as the Education (13.2%) sub-sectors. For the sectors, the Services sector (5.2%) expanded more than the national average. It was followed by Agriculture (4.6%) and Services (4.4%).<\/p>\n

Nine sub\u2013sectors within the Services sector recorded growth rates.<\/p>\n

However, two contracted. They were Real Estate (-5.7%) and Professional Administrative and Support(-11.0%).<\/p>\n

Similarly, three sub-sectors within the Agriculture sector expanded during the period. They were Fishing (7.8%), Livestock (5.8%) and Crops and cocoa (4.5%).<\/p>\n

Forestry and Logging however contracted with a growth rate of -0.2%.<\/p>\n

Also, Manufacturing (8.8%), Mining and Quarrying (4.4%) and Construction (0.4%) sub-sectors expanded.<\/p>\n

However, Electricity (-2.2%) and Water Supply, Sewerage, Waste Management and Remedial Activities (-2.7%) contracted.<\/p>\n

Services sector remains largest sector of economy<\/strong><\/p>\n

The Services sector continued to be the largest sector of the Ghanaian economy in the second quarter of 2022 with a share of 45.8% of GDP. The GDP share of Indeustry and Agriculture were 32.1% and 22.1% respectively.<\/p>\n

The Gross Domestic Product (GDP) estimate at current prices for the 2nd<\/sup> quarter 2022 was estimated at 13.26 billion.<\/p>\n

This is compared with 102.32 billion during the same period in 2021.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ghana\u2019s economy expanded by 4.8% in the second quarter of this year, higher than the 3.4% recorded in the first quarter. The appreciable growth rate was driven by Manufacturing (8.8%), Crops and Cocoa (4.5%), Mining and Quarrying (4.4%), Information and Communication (12.4%) as well as the Education (13.2%) sub-sectors. For the sectors, the Services sector […]<\/p>\n","protected":false},"author":1,"featured_media":1183209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1963,10151,1553],"class_list":["post-1207750","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-economy","tag-expands","tag-quarter"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1207750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1207750"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1207750\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1207750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1207750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1207750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}