
Audio By Carbonatix
The revised GDP estimates for 2010 have confirmed the growing importance of the services sector to the economy.The sector, which took over from agriculture as the largest contributor to national income in 2006 after the rebased GDP figures were released last year, now contributes nearly 52 percent.It is followed by the agriculture sector which has a contribution of 30 percent with industry, the least contributor with 18.6 percent.The services sector is also the fastest growing at 9.8 per cent, whiles agric had the least growth of 5.3.Government Statistician, Dr. Grace Bediako however explained to Joy Business the impressive performance of the services sector is not necessarily at the expense of the other sectors.“What is happening [is that] you have one whole – 100 per cent – that you are distributing across three sectors; substantial growth in one sector can push that sector to gain more ground than the other; it doesn’t mean that agric productions has fallen, what it means is the volume, value of the production of goods and services has changed, the balance has changed but still agric will be quite substantial,” she said.Meanwhile the Statistical Service says the release of figures on the performance of the economy for each quarter should help give an accurate picture of the economy after every three months.Source: Joy Business/Ghana
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
-
Minority questions gov’t purchase of fuel-powered buses, pushes for electric alternative
1 minute -
GFA Executive Council to Decide on New Black Stars Coach Ahead of 2026 World Cup
2 minutes -
One injured as fire destroys 14-bedroom house at Kwame Danso
10 minutes -
GACL struggling despite recording profit, levy needed for expansion – Agalga
13 minutes -
Kwahu Business Forum: Ghana Sports Fund calls for stronger corporate backing for sports dev’t
22 minutes -
Penplusbytes’ statement on police action against deepfake and misinformation activities in Ghana
53 minutes -
QNET, EOCO partnership showcased at UN global fraud summit as model for fighting organised crime
54 minutes -
Mussa Dankwah is like a ‘lotto doctor’ – Miracles Aboagye
60 minutes -
Investors target Ho Airport for training and maintenance hub — GACL Chair
1 hour -
NDC’s ‘grand deception’ on anti-LGBTQ+ bill exposed – Ntim Fordjour
1 hour -
Speak out against Mahama government’s LGBTQI+ u-turn – Ntim Fordjour to clergy
1 hour -
Ghanaians worse off despite improved macroeconomic indicators — Miracles Aboagye
1 hour -
Police intercept narcotics, arrests five suspects in Upper West
1 hour -
Government to establish Kumasi Machinery Innovation Park under 24-Hour Economy programme
1 hour -
When Hormuz Fails: The day a waterway stops the world
1 hour