Industry sector recorded highest growth in 2018 Q4

Industry sector recorded highest growth in 2018 Q4
Source: Ghana | Ebenezer Sabutey | JoyBusiness
Date: 17-04-2019 Time: 07:04:30:pm

The industry sector recorded the highest growth rate for the fourth quarter of 2018 to push the country’ GDP growth rate to 6.8%.

This according to the Ghana Statistical Services (GSS) can be attributed to the growth rate in gold prices in the international market and some activities on the country’s mining and quarrying sub-sector.

Economic growth for the 4th quarter of 2018 stood at 6.8 per cent, up from the 2017 figure of 5.5 per cent.

The growth rate is led by the Industrial sector which recorded 8.9 per cent followed by the services sector with 5.8 per cent.

Government Statistician Professor Samuel Kobina Annim in an address to the media also revealed that the year 2018 growth was 6.3 per cent.

“The country recorded a growth of 6.3 per cent for 2018 per the provisional figures available, making it the 6th highest economy in Africa for the year,” Prof Annim said.

The Agric sector had a decline in growth rate of 4.4 per cent for the quarter despite a marginal pick up in the crop sub-sector.

Professor Kobina Annim said, “the positive drivers of the growth in the Gross Domestic Product were mining and Quarrying, Health and Social Work, Information and Communication, Trade and among others. Negative contributors to the growth came from the sub-sectors of fishing, water supply among others.”