Ghana’s real GDP grew by 1.7% third quarter 2012 – GSS

The real Gross Domestic Product (GDP) for Ghana grew by 1.7 percent (year-on-year) in the third quarter of 2012, the Ghana Statistical Service (GSS) has reported.

According to the GSS the country’s agriculture sector recorded the highest growth of 4.6 percent, followed by Industry with a growth of 3.6 percent.

The Service sector it says, however, recorded a decline of -2.2 percent.

The GSS report notes that the crops subsector (including cocoa) grew by 9.4 percent, whilst Livestock, Forestry, and Fishing subsectors recorded declines of -20.5 percent, -7.5 percent and -24.2 percent respectively.

The main contributors of the industry sector are the Construction subsector which recorded a growth of 19.2 percent; followed by Mining and Quarrying, 5.2 percent; and Water and Sewerage activities 0.6 percent.

It says the main contributors to the Services sector were Hotel and Restaurants at 31.8 per cent, Financial and Insurance activities at 22.6 percent and Business, Real Estate and other business activities, 15.3 percent.

“However, Transport and Storage, and, Information and Communication subsectors contributed negatively to the growth of the Services sector,” it says.

By Emmanuel K. Dogbevi