GDP in Ghana
Ghana - GDP
Economy picks up speed in Q3 2016
Ghana’s economy gathered momentum in the third quarter of the year, after a blip in the previous quarter had seen growth slow markedly. GDP expanded 4.0% in Q3 2016 compared to the same period of the previous year, rising from the 2.5% growth recorded in Q2. Q2’s lower growth was mainly due to a halt in oil production caused by a technical problem, which has since been resolved.
According to the Ghana Statistical Service (GSS), Q3’s acceleration was driven by growth in the industrial sector, which swung from a 5.0% contraction in Q2 to a 3.9% expansion in Q3 on the back of higher oil production. In contrast, growth in the services sector moderated from 6.0% in Q2 to 4.7% in Q3, while growth in the agricultural sector also slowed from 4.1% in Q2 to 2.3% in Q3.
FocusEconomics Consensus Forecast panelists expect the economy to expand 6.2% in 2017, which is up 0.1 percentage points from last month’s estimate. For 2018, the panel predicts that the economy will expand 6.6%.
Ghana - GDP Data
|Economic Growth (GDP, annual variation in %)||14.0||9.3||7.3||4.0||4.1|
5 years of economic forecasts for more than 30 economic indicators.
Ghana GDP Chart
Source: Ghana Statistical Services
|Exchange Rate||4.36||0.30 %||Mar 27|
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March 15, 2017
Consumer prices increased 0.6% in February compared to the previous month, down significantly from January’s 2.8%.
February 15, 2017
Consumer prices in Ghana increased 2.8% in January compared to the previous month, up significantly from December’s 0.9%.
January 23, 2017
At its 20 January monetary policy meeting, the Bank of Ghana (BOG) decided to leave the monetary policy rate unchanged at 25.50%, following the first rate cut in over five years in November.
January 11, 2017
Consumer prices increased 0.98% in December compared to the previous month, up slightly from November’s 0.82% rise.
December 29, 2016
Ghana’s economy gathered momentum in the third quarter of the year, after a blip in the previous quarter had seen growth slow markedly.