Ghana’s GDP growth slows to 3.5% in 2016

Ghana’s provisional annual growth rate for 2016 stands at 3.5 per cent, down from 3.9 percent in 2015, acting government statistician Baah Wadieh said on Wednesday.

Speaking at a press conference to announce the rate, Mr Wadieh said for the year 2016, the Services sector recorded a year-on-year GDP growth rate of 5.7 per cent.

The Information and Communication sub-sector recorded the highest year-on-year GDP growth rate of 21.7 per cent while the Community, Social and Other Personal Activities sub-sector recorded the lowest growth rate of -0.6 per cent.

The year-on-year annual GDP growth rate for the Industry   sector is -1.4 per cent for 2016.

The Electricity sub-sector recorded the highest year-on-year annual GDP growth rate of 11.7 per cent for 2016, while the Mining & Quarrying sub-sector recorded the lowest (-10.7%).

The year-on-year GDP growth rate for Agriculture is 3.0 per cent for 2016.

The Fishing sub-sector recorded the highest year-on-year growth rate of 5.7 per cent while the Forestry and Logging sub-sector recorded the lowest growth rate of 2.5 per cent.

Mr Wadieh said GDP growth for the fourth quarter of last year stood at 4.1 percent as against 3.9 per cent for the same period in 2015.

Source: GNA