Ghana’s economy grew by 5.7 per cent in 2024

Ghana’s economy grew by 5.7 percent in 2024, but Q4 growth slowed to 3.6 percent, down from 7.2 percent in the third quarter.  

The slowdown in Q4 was largely driven by weaker growth in the Industry sector, which increased by just 0.2 per cent.  

A significant factor was the sharp contraction in mining and quarrying, which accounted for about 43 percent of the Industry sector’s total value.  

The Services sector remained the largest contributor to GDP, representing 49.2 percent of total output, followed by Industry (31.9 percent) and Agriculture (19.0 per cent).  

At constant 2013 prices, Ghana’s oil GDP for Q4 2024 stood at GH₵53,137.0 million, while non-oil GDP was GH₵50,262.5 million. In nominal terms, GDP at basic prices reached GH₵308,086.5 million.  

Source: gna.org.gh