The latest data from the Ghana Statistical Service (GSS) indicates that the cumulative economic growth for the third quarter (Q3) of 2024 stood at 7.2 %.
This is a significant increase from the 6.9 per cent recorded in the first second quarter of 2024. The GSS made this known in a statement on Wednesday, December 12, 2024
The economic rebound is another boost to the country as the government restructures its debt.
The services sector continues to be the largest of the Ghanaian economy with a share of 42.9 percent of GDP at basic prices.
This is followed by industry and agriculture, having recorded a growth rate of 32.6 and 24.5 percent respectively.
The Industry sector recorded the highest real GDP growth of 10.4 percent year on year followed by the Services sector at 6.4 percent. The Agriculture sector recorded a growth rate of 3.2 percent
Under agriculture, the sub-sector, which expanded the most was crops and the sub-sector which contracted the most was fishing.
Crops expanded by 5.9 percent year on year and 1.3 percent quarter on quarter.
Meanwhile, the fishing sub-sector had a growth of -21.7 percent year on year and -6.5 percent quarter on quarter.
The mining and quarrying sub-sector also expanded in the Industry sub-sector GDP estimates, while water and sewerage contracted.
Meanwhile, Information and Communication expanded the most within the services sector with other personal services activities contract in the third quarter of the year.
