{"id":1268933,"date":"2022-12-22T13:37:19","date_gmt":"2022-12-22T13:37:19","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/12\/22\/economy-slows-down-in-quarter-3-2022-gdp-expands-by-2-9-gss\/"},"modified":"2022-12-22T13:37:19","modified_gmt":"2022-12-22T13:37:19","slug":"economy-slows-down-in-quarter-3-2022-gdp-expands-by-2-9-gss","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/12\/22\/economy-slows-down-in-quarter-3-2022-gdp-expands-by-2-9-gss\/","title":{"rendered":"Economy slows down in quarter 3, 2022; GDP expands by 2.9% \u2013 GSS"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"411\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/12\/1671716239_328_image_2022-12-21_072213111-696x411.png\"   alt=\"\" title=\"Finance Minister Ken Ofori-Atta\"\/><figcaption class=\"wp-caption-text\">Finance Minister Ken Ofori-Atta<\/figcaption><\/figure>\n<\/div>\n<p>Ghana\u2019s economy grew at the slowest pace in two years in the third quarter of 2021, data from the Ghana Statistical Service (GSS) has revealed.<\/p>\n<p>According to the GSS, the country\u2019s economy expanded at 2.9% in the third quarter of 2022.<\/p>\n<p>This is lower than the 4.7% Gross Domestic Product (GDP) recorded in the second quarter of 2022.<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>The slow growth in industry (0.9%) impacted heavily on the overall growth rate.<\/p>\n<p>Agriculture however recorded the highest GDP of 4.6%, in the Fishing sector whilst the services sector registered a growth rate of 3.9%.<\/p>\n<p>Government Statistician Professor Samuel Kobina Anim however explain that GSS will invite various ministries and sectorial heads for review and recommendations on GDP growth.<\/p>\n<p>Nine sub-sectors contracted in quarter three of 2022.<\/p>\n<p>These are Professional, Administrative &#038; Support Service activities (-12.1%), Other Personal Service Activities (-8.6%), Manufacturing (-7.4%), Construction (-7.0%), Real Estate (-6.6%), Hotels &#038; Restaurants (-6.4%), Trade (-2.4%), Electricity (-3.9%) and Water (-3.0%).<\/p>\n<p>For the Agriculture sector, all the sub-sectors expanded in growth. They were Fishing (10.0%), Livestock (5.8%), Forestry &#038; Logging (4.7%) as well as Crops and cocoa (4.0%).<\/p>\n<p>Mining &#038; Quarrying (14.9%) was the only sub sector in Industry that recorded a growth rate.<\/p>\n<p><strong>GDP sectoral shares<\/strong><br \/>The Services sector continue to be the largest sector of the Ghanaian economy in the second quarter of 2022 with a share of 44.4% of GDP at basic prices.<\/p>\n<p>The GDP share of Industry and Agriculture were 33.6% and 22% respectively.<\/p>\n<p><strong>Size of econom<\/strong>ic<strong>\u00a0growth<\/strong><\/p>\n<p>Meanwhile, the GDP estimate at current prices in purchaser\u2019s value for the 3rd quarter of 2022 was \u00a2149.87 billion compared to \u00a2112.48 billion in the 3rd quarter of 2021.<\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"02QrA7zGP_o\"><iframe loading=\"lazy\" title=\"Badwam Sports News on Adom TV (22-12-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/02QrA7zGP_o?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister Ken Ofori-Atta Ghana\u2019s economy grew at the slowest pace in two years in the third quarter of 2021, data from the Ghana Statistical Service (GSS) has revealed. According to the GSS, the country\u2019s economy expanded at 2.9% in the third quarter of 2022. This is lower than the 4.7% Gross Domestic Product (GDP) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1268649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1268933","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1268933","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=1268933"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1268933\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1268933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1268933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1268933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}