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Ghana’s economy grew by 7.2 per cent in the third quarter of 2024, marking a significant recovery compared to the 2.2 per cent growth recorded during the same period in 2023, according to data released today by the Ghana Statistical Service.
The growth is the strongest since pre-pandemic levels, with the last comparable performance being a 9.1 per cent expansion in the second quarter of 2019.
On a seasonally adjusted basis, the country’s real Gross Domestic Product (GDP) increased by 1.7 per cent in Q3 2024 compared to the second quarter, slightly higher than the 1.6 per cent recorded in Q2 2024.
Key sectors underpinning this impressive growth included Mining and Quarrying, Information and Communication, Crops, Construction and Manufacturing. These industries collectively drove the economy forward, reflecting a diverse range of contributions to the nation’s economic output.
However, not all sectors performed positively. Fishing, Water and Sewerage, and Other Personal Service Activities were among the subsectors that contracted during the period, indicating lingering challenges in these areas.
source: Graphic Online
