Ghana’s economic system grew by 4.8 p.c, year-on-year, within the second quarter of this 12 months largely because of the manufacturing and crop and cocoa sectors, the Ghana Statistical Service (GSS) has introduced.
The provisional actual quarterly Gross Home Product (GDP) development charge together with oil and gasoline exhibits a rise when in comparison with the 4. 2 per cent recorded in the identical interval final 12 months.
With out oil and gasoline (Non-Oil GDP) the expansion charge for the interval is estimated to be 6.2 per cent when likened to the expansion charge of 6.6 per cent recorded within the second quarter of 2021.
When seasonally adjusted, the actual GDP elevated by 1.1 per cent within the quarter below evaluate, indicating a 0.2 share level enhance from what was recorded within the first quarter of the 12 months January to March.
The Authorities Statistician, Professor Samuel Kobina Annim, introduced the quarterly GDP figures for the second quarter at a press convention held in Accra yesterday.
He mentioned mining and quarrying, info and communication, and schooling sub-sectors have been additionally a part of the primary drivers of the GDP development recorded within the quarter.
On GDP sectoral shares, he mentioned, the companies sector continued to be the most important sector of the Ghanaian economic system within the second quarter of 2022 with a share of 45.8 per cent of GDP at primary costs whereas the GDP share of trade and agriculture have been 32.1 per cent and 22.1 per cent respectively.
Based on Prof. Annim, the companies sector recorded the best development charge of 5. 2 per cent, adopted by the agriculture sector, 4.6 per cent and the trade sector with a 4. 4 per cent development charge.
The primary sectors with greater than 10 per cent enlargement within the quarter are schooling: 13.2 per cent; well being 12.7 and knowledge and communication, 12.4 per cent.
The 5 sub-sectors which contracted within the quarter have been skilled, administrative and assist companies actions, -11.0 per cent; actual property, -5.7 per cent; water,-2.7; electrical energy, -2.2 per cent and forestry and logging, -0.2 per cent.
Prof. Annim mentioned the GDP (together with oil and gasoline estimate at fixed 2013 costs for the quarter was GH¢41, 205.5 million in comparison with GH¢39, 304.6 million within the second quarter of 2021.
“The non-oil GDP at fixed 2013 costs for the second quarter of 2022 was GH¢38, 976. 1 million in comparison with GH¢36, 690 million within the second quarter of 2021,” he mentioned.
Nominally, the GSS mentioned the GDP estimate at present costs in purchaser’s worth for the quarter below evaluate was GH¢132, 263.5 million in comparison with GH¢102, 326.5 million within the second quarter of final 12 months.
Supply: Ghanaian Occasions