Audio By Carbonatix
The country’s economy grew a provisional 5.6 per cent for the third quarter of 2019 year-on-year compared to the 7.4% recorded in the same period in 2018, the Government Statistician has said.
According to Professor Samuel Annim, Gross Domestic Product (GDP) growth rate without oil and gas for the same period was 4.6% compared to 8.5% in 2018.
He said the Agriculture sector recorded the highest growth of 5.9%, while the industry and Services sectors both expanded by 5.7%.
The Services sector remained the largest sector of the Ghanaian economy in the third quarter of 2019 with a share of 45.8% of GDP.
Industry and Agriculture had 35.7% and 18.5% share of GDP respectively.
Under the services sector, Information and Communication sub-sector grew by 5.5% in the third quarter of 2019 compared to 11.5% in the second quarter of 2019.
The real Estate also expanded by 5.6% in the third quarter up from 3.8% in the second quarter.
“There is no contraction in the growth of any of the sub-sectors within the service sector,” Prof. Annim said.
Within the industry sector, electricity sub-sector recorded 2.7%, up from negative 1.9 per cent growth recorded in the second quarter of 2019.
Mining and Quarrying sub-sector slowed to 2.2% in the third quarter of 2019 compared to 3.4% in 2019, while the manufacturing sub-sector grew by 1.2%.
Construction recorded a growth rate of 0.4% during the period compared to negative 2.1% in the second quarter.
In the agriculture sector, the crops sub-sector grew by 1.7% compared to 0.8% in the previous quarter.
Livestock sub-sector grew by 1.1%.
Forestry and logging sub-sector recorded the least growth rate of negative 0.2%.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Ato Forson hands over Defence Ministry to Kenneth Gilbert Adjei
12 minutes -
Useless Column: Kasoa V8
30 minutes -
SUNU Assurances Ghana LTD extends support to Paediatric Ward of Holy Family Hospital, Techiman
38 minutes -
Newspring Assemblies of God leader to host 2026 HigherLife Breakfast Meeting in Kumasi
39 minutes -
Government targets 100,000 jobs through new care economy programme – Opare-Addo
44 minutes -
Religious Affairs Ministry begins national database of shrines, religious sites
55 minutes -
GMA pushes for implementation of port optimisation measures at Tema Port
1 hour -
Public sector reform must prioritise staff welfare – Civil Service head
1 hour -
LEAP expansion brings relief to 4,372 more vulnerable residents in Jirapa
1 hour -
President Ruto’s State backing fuels Nairobi’s historic 2029 World Athletics Championships bid
1 hour -
Veep commissions five envoys, charges them to advance Ghana’s interests abroad
1 hour -
19-year-old man jailed 15 years for robbery at Asokore Mampong
1 hour -
Woman killed, 14 injured after vehicles collide on Accra–Kumasi highway
2 hours -
Regulatory burden threatens SME growth, job creation – ILAPI study
2 hours -
22-year-old man sentenced to 10 years for robbery in Kumasi
2 hours