GDP in Ghana
Ghana - GDP
Growth ticks down in Q1 but rapid nonetheless
According to a preliminary estimate released by Ghana’s Statistical Institute, the economy expanded 6.7% year-on-year in the first quarter of the year, down slightly from the previous quarter’s 6.8% increase. In a similar fashion, in quarter-on-quarter, seasonally-adjusted terms, growth moderated slightly from 1.7% to 1.6%.
The industrial sector once again spearheaded the overall expansion, although it lost some stride from the previous quarter (Q1: +8.4% year-on-year; Q4: +8.9% yoy). Surging mining and quarrying output reflected strong dynamics in the oil industry, which, coupled with healthy outturns in the electricity and manufacturing sub-sectors, more than offset a sharp slump in construction activity.
Meanwhile, the services sector accelerated at the fastest rate since Q4 2015 (Q1: +7.2% yoy; Q4: +5.8% yoy), led by the information and communication, as well as health and social work sub-sectors. On a less positive note, growth in the agricultural sector halved (Q1: +2.2% yoy; Q4: +4.4% yoy), marking a three-year low. The deterioration reflected moderate growth in crop output and a contraction in forestry and logging activity.
Looking ahead, the economy should sustain a strong pace of expansion again this year, thanks to solid export growth and robust domestic demand. Fluctuations in global commodity prices and lower-than-anticipated oil production remain key risks to the outlook, however.
FocusEconomics panelists expect the economy to expand 6.3% in 2019, which is up 0.1 percentage points from last month’s forecast, and 6.0% in 2020.
Ghana - GDP Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 7.3 | 4.0 | 3.8 | 3.7 | 8.5 |
Ghana GDP Chart
Source: Ghana Statistical Services
Ghana Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 5.39 | 0.0 % | Jun 20 |
| Stock Market | 0.4 | 0.0 % | Jun 20 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
Ghana: Growth ticks down in Q1 but rapid nonetheless
June 20, 2019
According to a preliminary estimate released by Ghana’s Statistical Institute, the economy expanded 6.7% year-on-year in the first quarter of the year, down slightly from the previous quarter’s 6.8% increase.
Ghana: Inflation ticks down in May
June 12, 2019
Consumer prices rose 0.9% over the previous month in May, following a 1.1% month-on-month increase in April.
Ghana: PMI edges down to six-month low in May
June 6, 2019
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) ticked down from 51.2 points in April to 50.6 in May, the weakest reading since November 2018.
Ghana: Bank of Ghana holds the key rate stable in May
May 27, 2019
At its three-day meeting which concluded on 27 May, the Monetary Policy Committee (MPC) of the Bank of Ghana (BOG) kept its key policy rate unchanged at a five-year low of 16.00%.
Ghana: Inflation increases to six-month high in April
May 16, 2019
Consumer prices rose 1.1% over the previous month in April, following a 1.2% month-on-month increase in March.
© Copyright: 2019 | Ghana GDP | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed ...
