Ghana GDP Growth Rate 2006-2014 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Ghana expanded 3.30 percent in the second quarter of 2014 over the previous quarter. GDP Growth Rate in Ghana averaged 2.14 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.


Ghana GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.30 2.00 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. Content for - Ghana GDP Growth Rate - was last refreshed on Saturday, November 22, 2014.

Ghana GDP Growth Accelerates to 3.3% QoQ in Q2

In the second quarter of 2014, the Ghanaian economy expanded 3.3 percent over the previous quarter, compared with a 2.6 percent expansion in the previous period and driven by an increase in services activities.

On a quarter-on-quarter seasonally adjusted basis, the services sector increased 3.7 percent, recovering from a 4.1 percent contraction in the previous quarter. Growth was mainly driven by public administration activities (up 18.4 percent from a 7.3 decrease in the previous period) and transport and storage (up 4.7 percent from a 10.5 decrease).

The agricultural sector contracted for the first time in four quarters by 2.9 percent. Fishing activities decreased 10.3 percent and livestock production fell 34.5 percent. On the other hand, forestry and logging activities increased 8.9 percent and production of crops and cocoa grew 1 percent.

The industrial sector grew 1.6 percent, slightly down from a 1.7 percent increase in the previous quarter. Mining and quarrying rose 6.1 percent, construction expanded 2.9 percent, rebounding from a 2 percent drop in the previous quarter and water and sewage grew 1.5 percent. In contrast, manufacturing and electricity decreased by 5.4 percent and 1.8 percent respectively.

On a year-on-year basis, the GDP advanced 5.3 percent in the second quarter of 2014.

Ghana Statistical Service | Ricardo Martins |
10/23/2014 4:22:41 PM

Recent Releases

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. Published on 2014-06-30

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

Ghana GDP Last Previous Highest Lowest Unit
GDP 47.93 41.74 47.93 1.20 USD Billion [+]
GDP Growth Rate 3.30 2.00 7.80 -5.90 percent [+]
GDP Annual Growth Rate 5.30 6.50 19.10 2.20 percent [+]
GDP Constant Prices 8759.00 8483.00 130410.40 4410.00 GHS Million [+]
GDP per capita 766.05 730.22 766.05 320.77 USD [+]
GDP per capita PPP 3847.94 3667.98 3847.94 1891.65 USD [+]
Gross Fixed Capital Formation 21279.60 23334.10 23334.10 4047.00 GHS Million [+]