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The total economic growth for the second quarter (Q2) of 2024 was 6.9%, according to the most recent figures from the Ghana Statistical Service (GSS).
Compared to the first quarter of 2024, when it was 4.7%, this is a considerable increase.
In a statement released on Wednesday, September 18, the GSS disclosed this.
As the government restructures its debt, the economic recovery provides additional support to the nation.
Construction, manufacturing, information and communication, mining, quarrying, and agriculture are the main drivers of this growth.
At 44.2 percent of GDP at basic prices in the second quarter of 2024, the services sector remained the main driver of the Ghanaian economy.
Industry and agriculture accounted for 32.2 percent and 23.6 percent of GDP, respectively.
Mining and quarrying contributed to the 9.3% growth in Ghana’s total industry sector, while the gold sector rose by 23.6% in the second quarter for the third consecutive quarter. Agriculture expanded by 5.4%, whereas the services sector grew by 5.8%.
With a share of 44.2% of GDP at base prices, the services sector remains the largest in the Ghanaian economy as of Q2 2024. Industry and agriculture accounted for 32.2 percent and 23.6 percent of GDP, respectively.
Professor Samuel Kobina Annim, a government statistician, determined that the primary sectors driving GDP growth in Q2 2024 were manufacturing, construction, information and communication, mining and quarrying, and crops.
The cocoa industry shrank by 26.2% between April and June of this year, marking the third consecutive quarter of contraction despite overall expansion in agriculture and a 6.4% gain in the agricultural sector.
Source: Ghanatodayonline.com
