GSS has announced that the country’s GDP

Source: newsthemegh.com/Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Ghana Statistical Service (GSS) has announced that the country’s Gross Domestic Product (GDP) is estimated to have increased by 4.7% in the first quarter (January to March) of 2024.

This is compared to the fourth quarter (October to December 2023) of last year where the economy grew by 1.2%.

The drivers of the growth in the first quarter of 2024, according to the GSS were Mining and Quarrying, which contributed 12.9%, Information and Communication 17.9%, Crops 4.3%, Construction 8.2% and Accommodation and Food Service Activities 9.4%.

The contracting sub-sectors in quarter 1 of 2024 were Health and Social work -8.8%, Electricity -7.5%, Public Administration, Defense and Social Security -5.3%, education -4.9% Other Personal Service Activities -2.9% and Forestry & Logging -1.2%.