Ghana: Economy gains steam in Q3
December 28, 2016
According to a provisional estimate from the Ghana Statistical Service, the country’s economy picked up momentum in Q3 2016, expanding 4.0% compared to the same quarter of the previous year. The figure was an improvement from the 2.5% growth registered in the previous quarter.
Q3’s acceleration was broad-based, with all sectors of the economy expanding. The service sector lead the way, growing 4.7% compared to the same quarter of the prior year, with the transport and storage, and information and communication sub-sectors the star performers. The industry sector also enjoyed healthy 3.9% growth thanks to a boom in construction, while the agricultural sector expanded at a more modest 2.3%, with livestock a large contributor.
Author: Oliver Reynolds, Economist