The Services sector continues to lead Ghana’s economic output, driving the second quarter (Q2) growth to 3.2 percent after growing 3.5 percent in the same period last year, according to data released by the Ghana Statistical Service (GSS).
Samuel Kobina Annim, the government statistician at the GSS, announced this during the quarterly GDP update on Wednesday.
Annim told the media that the services sector recorded the highest growth of 6.3 percent, followed by the agriculture sector with 6.0 percent and the industry sector with a contraction of -1.9 percent.
“Information and communication technology (26.4 percent), fishing (12.4 percent), health and social work (11 percent) are some of the subsectors driving growth during the second quarter,” said Annim.
He added that livestock (6.9 percent), crops and cocoa (6.4 percent), public administration, defense and social security (6.8 percent), and transport and storage (6.0 percent) also contributed to the GDP growth.
The GSS also revised the Q1 growth rate downward to 3.3 percent from the 4.2 percent announced previously.
The Ghanaian government projects the economy to slow to 1.5 percent by the end of 2023, compared with the 3.1 percent growth rate recorded last year.
The West African cocoa, gold, and crude oil exporting country, has been battling its worst economic strain in decades, due to balooning public debt and high fiscal deficit.