Ghana’s economy expands by 7.2% in Q3 of 2024

Posted on December 11, 2024December 11, 2024
by Nana Kwesi Coomson
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Ghana’s economy grew by 7.2 % in the third quarter of 2024, provisional figures released by the Ghana Statistical Service has revealed.

Compared to the second quarter of 2024, the economy grew by 6.9%.

The Services sector continues to be the largest of the Ghanaian economy with a share of 42.9% of Gross Domestic Product at basic prices.

This is followed by Industry and Agriculture, having recorded a growth rate of 32.6% and 24.5% respectively.

The Industry sector recorded the highest real GDP growth of 10.4% year-on-year followed by the Services sector at 6.4%. The Agriculture sector recorded a growth rate of 3.2%.

Under Agriculture, the sub-sector, which expanded the most was crops and the subsector which contracted the most was fishing.

Crops expanded by 5.9% year-on-year and 1.3% quarter-on-quarter.

Meanwhile, the fishing sub-sector contracted by -21.7% year-on-year and 6.5% quarter on quarter.

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.

-Myjoyonline

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Ghana’s economy

ABOUT: Nana Kwesi Coomson

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An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.

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