Sunday, 25 February

Fourth quarter 2022 provisional real GDP increased by 3.7% – GSS

Business
GDP

Ghana provisional real Gross Domestic Product (GDP) in volume terms was estimated to have increased by 3.7% in quarter four (October to December) of 2022 compared to the same period in 2021, the Ghana Statistical Service has said.

When seasonally adjusted, Ghana real GDP increased by 0.8% in quarter four (October to December) of 2022; 0.3 percentage points higher than what was recorded in quarter three (July to September) of 2022.

The Mining & Quarrying, Information & Communication, Public Administration, Defense & Social Security, Crops, and Education sub-sectors were the main drivers of GDP growth for the fourth quarter of 2022. 

The main sub-sectors with more than 10 percentage expansion in quarter four of 2022 are:

1.    Information & Communication (20.5%)

2.    Public Administration, Defense & Social Security (15.7%)

3.    Mining & Quarrying (13.4%)

4.    Education (12.3%)

5.    Health & Social Work (10.5%)

Seven sub-sectors contracted in quarter four of 2022. These are:

1.    Water Supply, Sewerage, Waste Management & Remediation Activities (-13.4%)

2.    Real Estate (-13.4%)

3.    Electricity (-12.8%).

4.    Manufacturing (-9.6%)

5.    Professional, Administrative & Support Service activities (-7.7%)

6.    Construction (-7.1%)

7.    Fishing (-1.5%)

 

Source: Classfmonline.com/Emmanuel Mensah