Prof. Samuel Kobina Annim<\/strong><\/p>\n\u00a0<\/p>\n
The Ghana Statistical Service (GSS) has reported that the country\u2019s economy grew 7.2% in the third quarter (Q3) of this year.<\/p>\n
This is an improvement from the second quarter which recorded 6.9% growth for 2024, and is the strongest since pre-pandemic levels.<\/p>\n
The economy grew by 2.2% in the same period last year, the GSS revealed.<\/p>\n
The GSS, in a statement, announced on Wednesday, December 12, 2024, that the positive economic performance provides a crucial boost as the government works to restructure its national debt and stabilize the economy.<\/p>\n
The statement noted that the services sector continues to dominate the economy, contributing 42.9% of GDP at basic prices.<\/p>\n
It revealed that industry follows with a share of 32.6%, while agriculture accounts for 24.5%.<\/p>\n
Year-on-year, the industry sector achieved the highest growth rate at 10.4%, outpacing the services sector, which grew by 6.4%.<\/p>\n
The agriculture sector recorded the slowest growth, with a 3.2% increase, the GSS pointed out, adding that within agriculture, the crops sub-sector recorded the strongest performance, expanding by 5.9% year-on-year and 1.3% quarter-on-quarter.<\/p>\n
However, the fishing sub-sector faced a steep contraction, shrinking by 21.7% compared to the same period last year and by 6.5% compared to the previous quarter.<\/p>\n
For the service sector, the GSS said the information and communication sub-sector led growth in the services sector, while other personal services activities contracted during the quarter.<\/p>\n
In the industry sector, mining and quarrying drove growth, while the water and sewerage sub-sector saw a decline.<\/p>\n
On a seasonally adjusted basis, the country\u2019s real Gross Domestic Product (GDP) grew by 1.7% in the third quarter of 2024 compared to the previous quarter, edging above the 1.6% growth recorded in the second quarter of 2024.<\/p>\n
A Business Desk Report<\/strong><\/p>\n\u00a0<\/p>\n
\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"
Prof. Samuel Kobina Annim \u00a0 The Ghana Statistical Service (GSS) has reported that the country\u2019s economy grew 7.2% in the third quarter (Q3) of this year. This is an improvement from the second quarter which recorded 6.9% growth for 2024, and is the strongest since pre-pandemic levels. The economy grew by 2.2% in the same […]<\/p>\n","protected":false},"author":1,"featured_media":4677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-265013","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\n
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