Ghana’s economy expanded by 6.9% in the second quarter of 2024, a significant increase from the 2.5% growth recorded in the same period last year, according to a report by the Ghana Statistical Service (GSS).
This growth was 1.6% higher compared to the first quarter of 2024, and 0.4 percentage points higher than what was recorded in the first quarter.
The non-oil GDP growth rate stood at 7%, up from 3.1% the same quarter in 2023.
The key sectors driving this economic growth were Mining and Quarrying, Crops, Information and Communication, Construction, and Manufacturing.
However, some subsectors, including Forestry and Logging, Water Supply, Sewerage, Waste Management, and Other Personal Service Activities, experienced contractions.
The Services sector remained the largest contributor to the country’s GDP, accounting for 44.2%, followed by the Industry sector at 32.2%, and Agriculture at 23.6%.
The Industry sector recorded the highest year-on-year growth at 9.3%, with the Mining and Quarrying subsector expanding by 14.8%.
In the Services sector, Information and Communication saw the largest expansion at 12.8%, while Other Personal Service Activities experienced a decline.
In agriculture, the Crops subsector saw notable growth of 6.4%, while Forestry and Logging contracted by 5.2% year-on-year.
