Ghana GDP Growth Rate

The Gross Domestic Product (GDP) in Ghana expanded 2.60 percent in the first quarter of 2014 over the previous quarter. GDP Growth Rate in Ghana averaged 2.11 Percent from 2006 until 2014, reaching an all time high of 7.80 Percent in the first quarter of 2011 and a record low of -5.90 Percent in the second quarter of 2010. GDP Growth Rate in Ghana is reported by the Ghana Statistical Service.

   
 
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Ghana GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
2.60 2.70 7.80 -5.90 2006 - 2014 Percent Quarterly
Ghana's has one of the highest GDP per capita in West Africa. The country has a diverse and rich resource base with gold, timber, cocoa, diamond, bauxite, and manganese being the most important source of foreign trade. In 2007, an oilfield which may contain up to 3 billion barrels of light oil was discovered. Yet, in spite of abundance of natural resources, a quarter of the population lives below the poverty line. This page provides - Ghana GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.


Ghana GDP Advances 2.6% QoQ in Q1


In the first quarter of 2014, the Ghanaian economy expanded 2.6 percent over the previous quarter, driven livestock, forestry and fishing activities.

The agricultural sector expanded 3.6 percent quarter-on-quarter, down from a 4.8 percent increase in the last three months of 2013. Production of crops and cocoa grew 0.8 percent. Forestry and logging activities surged 19.0 percent; fishing activities rose 14.1 percent and livestock production gained 4.5 percent.

The industrial sector grew 1.9 percent, after contracting in the previous two quarters. Mining and quarrying advanced 8.4 percent, even though gold production declined 21.7 percent. The manufacturing subsector contracted 0.1 percent, partly due to lower production of food and beverages, rubber and plastic products, and manufacture of non-metallic products. Production also declined for electricity (-1.8 percent), water and sewerage (-3.1 percent) and construction (-2.0 percent).

The services sector contracted for the first time in four quarters by 1.8 percent, hurt by public administration activities (-7.3 percent), financial and insurance (-3.9 percent), information and communication activities (-1.7 percent).

Compared with the same quarter of 2013, the GDP advanced 6.7 percent in the first quarter of 2014.

Ghana Statistical Service | Isabel Felino | Isabel.felino@tradingeconomics.com
6/30/2014 6:30:07 PM


Recent Releases

Ghana’s Economy Advances 2.7% QoQ in Q4
Ghana GDP growth accelerated to a quarter-on-quarter seasonally adjusted 2.7 percent in the last three months of 2013. Figures for the previous quarter were revised to show a 4.4 percent contraction, down from a 0.5 percent expansion initially reported. Published on 2014-04-14

Lower Gold Production Hurts Ghana GDP
Ghanaian economy slowed sharply in the third quarter of 2013 and rose a meager 0.5 percent over the previous quarter, down from a 3.9 percent expansion in the previous three-month period. A sharp fall in global gold prices prompted some mines to cut production. Published on 2014-02-03


GDP Last Previous Highest Lowest Unit
GDP 47.93 41.74 47.93 1.20 USD Billion [+]
GDP Growth Rate 2.60 2.70 7.80 -5.90 Percent [+]
GDP Annual Growth Rate 6.70 4.90 19.10 2.20 Percent [+]
GDP Constant Prices 7430.70 7393.70 130410.40 4410.00 GHS Million [+]
GDP per capita 766.05 730.22 766.05 320.77 USD [+]
GDP per capita PPP 1764.86 1671.46 1764.86 789.98 USD [+]





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