Audio By Carbonatix
The Ghanaian economy recorded a 12 percent growth for the third quarter of last year over the same period for 2010. This however represented a marginal decline compared with the 17 percent recorded in the 2nd quarter of last year.
Last year’s 3rd quarter growth was as a result of a substantial leap from industry also largely fueled by the crude oil production from the jubilee field.
Head of Economic Statistics at the Statistical Service, Ebo Duncan explained to Joy Business what accounted for this.
“The industry sector which has mining and quarrying, manufacturing, electricity, water and construction recorded the highest growth of 37.2 percent.
Within that sector, mining and quarrying subsector sector grew by 263.1 percent mainly due to crude oil whilst Construction too grew by about 5.9 percent. These two together pushed industry’s growth to 37.2 percent".
Manufacturing didn’t do well. Whilst electricity had an increase of 7.8 percent, water on the other side didn’t do that well”
The services sector followed industry with 5.8 percent growth whilst Agric recorded the lowest growth of 5.2 percent.
The Services Sector however maintained its dominance as the biggest contributor to the economy with 50 percent, followed by Industry and Agriculture.
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.
Tags:
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
-
Trade Minister applauds GUTA as a pillar of economic growth; Prez Mahama honoured
48 minutes -
President’s brother’s takeover of Damang Mines is ‘untidy’ – Alhassan Tampuli
54 minutes -
It’s not true that gov’t decided not to renew the lease for Gold Fields – Bobby Banson
58 minutes -
Ghana to boost tomato production with 60-hectare irrigated farms and processing initiatives
1 hour -
E&P’s takeover process of Damang Mines was very clean – Inusah Fuseini
1 hour -
Damang takeover: There is not going to be any job loss; it is a lease change – Bobby Banson
2 hours -
Gold Fields didn’t stop mining at Damang mines; such claims are untrue – Bobby Banson
2 hours -
Engineers and Planners currently operate only in Ghana – Bright Simons
2 hours -
Lands Minister has no legal basis to restrict lease to Ghanaian firms – Bright Simons
2 hours -
Gov’t’s refusal to renew Gold Fields’ lease was simply untenable – Bright Simons
2 hours -
SOS Children’s Villages Ghana deepens partnership with Gender Ministry
3 hours -
Gender Ministry celebrates Christina Koch, reaffirms commitment to empowering girls
3 hours -
Live stream: Newsfile digs into E&P’s takeover of Damang Mines, OSP powers and Anti-LGBTQ Bill
3 hours -
Moody’s maintains Ghana’s rating at Caa1, revises outlook to positive
4 hours -
Zambia elevates tourism education to national priority as President Hichilema backs continental summit
4 hours