Ghana GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Ghana expanded 4.90 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Ghana is reported by the Ghana Statistical Service. GDP Annual Growth Rate in Ghana averaged 7.72 Percent from 2000 until 2013, reaching an all time high of 19.10 Percent in the second quarter of 2011 and a record low of 2.20 Percent in the third quarter of 2009. In Ghana, the annual growth rate in GDP measures the change in the value of the goods and services produced by the country economy during the period of a year. This page provides - Ghana GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-16

Actual Previous Highest Lowest Forecast Dates Unit Frequency
4.90 4.90 19.10 2.20 2.19 | 2014/03 2000 - 2013 Percent Quarterly

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Ghana GDP Annual Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP 40.71 2012-12-31 39.20 40.71 1.20 44.46 2013-12-31 USD Billion [+]
GDP Constant Prices 7430.70 2013-08-15 7393.70 130410.40 4410.00 9518.29 2013-12-31 GHS Million [+]
GDP Growth Rate 2.70 2013-12-31 -4.40 7.80 -5.90 1.30 2013-12-31 Percent [+]
GDP Annual Growth Rate 4.90 2013-12-31 4.90 19.10 2.20 2.19 2014-03-31 Percent [+]
GDP per capita 724.54 2012-12-31 686.19 724.54 324.32 771.39 2013-12-31 USD [+]
GDP per capita PPP 1764.86 2012-12-31 1671.46 1764.86 789.98 1860.23 2013-12-31 USD [+]
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Ghana GDP Expands 4.9% YoY in Q4

Ghana's economy advanced 4.9 percent year-on-year in the fourth quarter of 2013. It is the slowest expansion since the third quarter of 2010. Considering the full year, the GDP expanded 7.1 percent.

The GDP grew at the same pace recorded in the previous three-month period since growth figures for the third quarter were revised upwards. Improved data showed the economy advanced 4.9 percent in the September quarter, up from an initially reported 0.3 percent.

Although the services sector grew the most at 7.2 percent in the last three months of 2013, it slowed from 9.4 percent in the previous period. Agriculture expanded at a slower 3.4 percent (5.7 percent in the third quarter of 2013), while industry contracted 1.6 percent, following a 1.4 percent increase.

For full 2013 and including oil production, the GDP grew at a slower 7.1 percent, down from a 7.4 percent government target, and 8.8 percent in 2012. The services sector recorded the highest growth of 8.9 percent, followed by industry (+7.0 percent) and agriculture (+5.2 percent).

Excluding oil production, the economy grew at 6.5 percent in 2013.


Ghana Statistical Service | Isabel Felino | Isabel.felino@tradingeconomics.com
4/14/2014 3:46:31 PM

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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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