Ghana: Economy accelerates in 2015
November 12, 2015
According to preliminary estimates released by the Ghana Statistics Service (GSS), the economy has likely shown growth of 4.1% in 2015. The figure marks an improvement over the 4.0% increase seen in the previous year. Moreover, the non-oil GDP grew 4.2% this year, which is also an improvement over the 3.9% growth tallied in 2014.
In 2015, the industry sector recorded growth of 9.1%. The figure, which marked the fastest increase in three years, was significantly better than the 0.8% expansion observed in the previous year. Conversely, the service sector decelerated in 2015 and grew 4.7% (2014: +5.6% year-on-year). Finally, the agriculture sector stalled in 2015 as it recorded flat growth over the previous year. The figure was a deterioration over the 4.6% increase observed in 2014.
Author: Dirina Mançellari, Senior Economist