Ghana’s GDP Increased By 7.0% In The Last Quarter Of 2021

The Ghana Statistical Service (GSS) has estimated that the country’s real Gross Domestic Product (GDP) in volume terms has increased by 7.0% in the last quarter of 2021 compared to the same period in 2020.

The GSS said “Ghana real GDP increased by 1.8% in quarter four (October to December) of 2021”, that is, a 0.3 percentage point higher than what was recorded in the third quarter -July to September- of 2021.

The Agriculture sector recorded the highest growth at a percentage of 8.2, followed by the Services sector with a growth rate of 8.1% and the Industry sector expanded by 4.8 per cent, the GSS noted.

Additionally, the growth in the GDP was mainly driven by sub-sectors including the Information and Communication, Manufacturing, and Crops.

Data presented by the GSS shows that the main sub-sectors that expanded in quarter four of 2021 are Information and Communication recording 52.3%, Water Supply, Sewerage, Waste Management and Remediation Activities recording 21.7%, Fishing recording 21.2%, Electricity recording 15.4%, Hotel and Restaurants recording 12.3%, Real Estate recording 10.5% and Manufacturing recording 9.9%.

Health and Social Work (-13.1%) and Education (-6.1%) however saw a shrink in quarter four of 2021.

“The GDP (Including Oil & Gas) estimate at constant 2013 prices for the 4th quarter of 2021 was GH¢47,397.2 million compared to GH¢44,282.1 million in the 4th quarter of 2020. The Non-oil GDP at constant 2013 prices for the 4th quarter of 2021 was GH¢44,100.6 million compared to GH¢40,990.4 million in the 4th quarter of 2020.”

Source: Fuseini

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