Ghana’s economy grew by 4.7% in the first quarter of 2024

The agriculture sector was negatively impacted by adverse weather and the services industry by contractions in the health and social work and public administration, defense and social security sub-sectors

Fred Dzakpata June 18, 2024

Ghana’s economy/markets — Ghana’s economy

Ghana’s economy grew by 4.7% in the first quarter of 2024, compared to the last quarter growth of 3.8 % recorded in 2023, latest data from the Ghana Statistical Service (GSS) has shown

Addressing the media on Tuesday (18 June) in Accra, government statistician, Prof Samuel Kobina Annim attributed the main drivers of the growth in the first quarter to mining and quarrying, which contributed 12.9 percent, information and communication 17.9 percent, crops 4.3 percent, construction 8.2 percent, and accommodation and food service activities 9.4 percent.

“The industrial sector grew by an annual 6.8% in the period, after expanding 1.6% in the fourth quarter of 2023. Growth in the agriculture and services sectors slowed to 4.1% and 3.3% respectively, compared with 4.5% and 5.1% previously, ” he said.

The agriculture sector was negatively impacted by adverse weather and the services industry by contractions in the health and social work and public administration, defense and social security sub-sectors.

Watch the full presentation by Prof Samuel Kobina Annim in the attached video clip below:

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