Ghana records 3.3 percent GDP growth in first quarter

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Gross Domestic Product (GDP)
Gross Domestic Product (GDP)

Ghana recorded a Gross Domestic Product (GDP) growth rate of 3.3 percent in the first quarter this year, a slight year-on-year decrease compared with the 3.6 percent recorded during the same quarter in 2021, said the Ghana Statistical Service (GSS) Wednesday.

Samuel Kobina Annim, the Government Statistician, announced this at the regular press briefing to state the performance of economic activities during the first quarter of the year.

“The agriculture sector recorded the highest growth rate of 5.6 percent, followed by the services sector with a 3.7 percent, and the industry sector with 1.8 percent,” said Annim.

The statistician attributed the marginal decline in the growth rate to the lower output in the industry due to a decline in the production of oil and gas.

“Looking at what is happening around the globe where other countries have seen a decline, and some of them have seen a contraction in their GDP growth rate, it is difficult to rule out the effect of the global economic challenges on the Ghanaian economy,” added Annim.

The Ghanaian economy grew 5.4 percent last year despite multiple global challenges. Enditem

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