Ghana’s economy expanded by 6.9% in the second quarter of this year, according to the latest figures from the Statistical Service.
In real terms, the economy grew by 45.2 billion Ghana cedis, compared to a growth of 42.2 billion Ghana cedis in the second quarter of 2023. This 6.9% growth marks the highest quarterly rate since Q2 2019 and was propelled by a 9.3% increase in the industrial sector.
The services and agriculture sectors also recorded growth in Q2 2024, expanding by 5.8% and 5.4% respectively.
Government Statistician Professor Samuel Kobina Annim identified mining and quarrying, crops, information and communication, construction, and manufacturing as the main drivers of GDP growth in Q2 2024.
Despite overall growth in agriculture and a 6.4% increase in the crop sector, the cocoa industry contracted for the third consecutive quarter, shrinking by 26.2% between April and June this year.
Source: Ghana/Starrfm.com.gh/103.5FM/Edem Kojo