The size of Ghana’s economy stood at GH¢841.63 billion in 2023, the Ghana Statistical Services has revealed.
This includes net indirect taxes estimated at GH¢58.74 billion.
In 2022, the size of the country’s economy or Gross Domestic Product was estimated at GH614.33 billion.
According to the Ghana Statistical Services, the services sector constituted the biggest sector, accounting for GH¢357.34 billion. This represented 45.6% contribution to GDP.
Industry followed with GH¢247.941 billion, about 31.7% contribution to GDP.
Agriculture was estimated at GH¢177.606. billion (22.7% contribution to GDP).
The top five Sub-Sectors by Share of GDP were Crops (19.4%), Trade; Repair of Vehicles, Household Goods (18.3%), Mining and Quarrying (12.9%), Manufacturing (12.1%), Transport and Storage (6.0%).
According to the Ghana Statistical Services, the last quarter of 2023, recorded the highest real GDP growth rate (3.8%) across the four quarters with the Industry sector reversing a consistent contraction in the first three quarters to an expansion of 1.6% in the 2023 quarter 4.
The report added that Gross National Income per capita from a local currency perspective has more than doubled since 2018, from GH9,813 to GH25,349.
However, from a US dollar viewpoint, the report said the income per head has remained about the same in the last six years, ranging from a highest $2,453 to a lowest of $2,126.
Ghana’s economy grew by 2.9% in 2023 – GSS
Ghana’s economy recorded a 2.9% Gross Domestic Product (GDP) growth in 2023, stronger than the revised 1.5% by the Finance Ministry.
The growth rate was slower than the 3.1% recorded in 2022.
Latest Stories
-
Man remanded for allegedly stabbing businessman with broken bottle and screwdriver
3 mins -
KPMG’s report on GRA and SML deal, government white paper on report and matters arising
13 mins -
I won’t reply to Chris Brown tour criticism – Ayra Star
15 mins -
British Columbia to back off drug decriminalisation project
24 mins -
Veteran commentator Joe Lartey Sr dies at 96
24 mins -
Livestream: Newsfile discusses KPMG report on SML deal, ILO on SSNIT reserves and NDC’s running mate
58 mins -
Ghanaian activist hugs over 1,100 trees in an hour to set Guinness World Records
59 mins -
Mathew Anim Cudjoe’s Dundee United promoted to Scottish Premiership after Championship win
1 hour -
NSMQ star Jochebed Adwoa Sutherland sweeps 12 awards at UG Vice-Chancellor’s Ceremony
2 hours -
Ghana’s Education Quality ranked 125 out of 183 countries in latest Global Youth Development Index
2 hours -
Emma Stone wants people to use her real first name
2 hours -
FIFA Club World Cup 2025: Sundowns, Esperance join Al Ahly and Wydad as CAF representatives
6 hours -
CAFCL: Al Ahly set up historic final with ES Tunis
6 hours -
We didn’t sneak out 10 BVDs; they were auctioned as obsolete equipment – EC
10 hours -
King Charles to resume public duties after progress in cancer treatment
11 hours