Ghana records 6.5% GDP growth rate -GSS

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The Ghana Statistical Service (GSS), has said provisional Gross Domestic Product (GDP) estimates for 2019 showed a growth rate of 6.5 per cent compared to 6.3 per cent in 2018.

The main driver of 2019 GDP growth, according to the GSS, was the Mining and Quarrying subsector with a growth rate of 12.6% and contribution to the growth of 2.0 percentage points (31.2%). There were contraction in the Construction (-4.4%) and Water and Sewerage, Waste Management & Remediation Activities (-4.4%).

The Agriculture sector grew by 4.6 per cent in 2019 compared to a growth rate of 4.8 per cent in 2018. Its share of GDP declined from 19.7 per cent in 2018 to 18.5 per cent in 2019.

The Crops subsector is the third-largest activity in Ghana with a share of 13.8 per cent of GDP and contributed 0.7 percentage points to 2019 annual GDP growth. The Forestry and logging sub-sector contracted (-1.7%) having recorded 2.4% in 2018.

The Non-Oil annual GDP growth rate decreased from 6.5 per cent in 2018 to 5.8 per cent in 2019. The slowdown in growth rate could be attributed to a 10.4 per cent growth rate in Mining and Quarrying activities (excluding Oil and Gas) in 2019 compared to 48.6% in 2018.

Source: GSS

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