Ghana’s economy saw significant growth in the second quarter of 2024, expanding by 6.9%, according to the Ghana Statistical Service (GSS). The latest figures show that from April to June, the country’s seasonally adjusted real GDP rose by 1.6% compared to the first quarter of 2024, marking a 0.4 percentage point improvement from the January-March period. Year on year, the economy grew by 4.7%.
The services sector emerged as the largest contributor, powering 44.2% of the growth, with the industry and agriculture sectors contributing 32.2% and 23.6%, respectively. Among the services subsectors, information and communication recorded the highest growth at 12.8% year-on-year and 2.9% quarter-on-quarter.
The industry sector saw a strong performance from mining and quarrying, which expanded by 14.8% year-on-year and 3.8% from the previous quarter. The subsector of agriculture’s crops also saw a robust increase, growing by 6.4%.
Despite the overall growth, some areas faced setbacks. The forestry and logging subsector contracted by 5.2%, while water supply, sewerage, and waste management recorded a decline of 9.6%. Additionally, personal services activities in the services sector saw a drop of 3.1%. This mixed performance reflects the strengths and challenges faced by Ghana’s economy in the second quarter of 2024.
Don’t forget to like, comment in the box below, and share on all our social media platforms. For more updates on international news, local news, business, elections, sports, and exciting discussions, tune in to Orange FM 1079
