Ghana's economy records 3.3% GDP growth in first quarter of 2022 – GSS

Market Accra  Doing Business In Ghana 2020 112 File photo of market women

Thu, 23 Jun 2022 Source: www.ghanaweb.com

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The Ghana Statistical Service has said the country recorded a Gross Domestic Product (GDP) growth rate of 3.3 percent in the first quarter of 2022.

This represents a slight year-on-year decrease compared with the 3.6 percent growth rate recorded in the same period for 2021.

Addressing journalists at a press conference on June 22 in Accra, Government Statistician, Samuel Kobina Annim, said the economic expansion was led by growth in the agriculture sector, Services and Industry.

“The agriculture sector recorded the highest growth rate of 5.6 percent, followed by the services sector with a 3.7 percent, and the industry sector with 1.8 percent,” Prof. Annim said.

He added that the marginal decline in the growth rate of the industry sector was due to a decline recorded in the production of oil and gas which has significantly been impacted by global developments and the COVID-19 pandemic.

“Looking at what is happening around the globe where other countries have seen a decline, and some of them have seen a contraction in their GDP growth rate, it is difficult to rule out the effect of the global economic challenges on the Ghanaian economy,” he added.

Meanwhile, the Ghanaian economy grew by 5.4 percent in 2021.


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Source: www.ghanaweb.com
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