Ghana’s economy achieved an impressive growth rate of 7.2 per cent in the third quarter of 2024, according to provisional data released by the Ghana Statistical Service.
This reflects an improvement on the 6.9 per cent growth recorded in the second quarter of the year.
The Services sector maintained its position as the largest contributor to Ghana’s economy, accounting for 42.9 per cent of Gross Domestic Product (GDP) at basic prices.
It was followed by the Industry sector, which contributed 32.6 per cent, and the Agriculture sector, at 24.5 per cent.
The Industry sector led the way with the highest year-on-year real GDP growth of 10.4 per cent, buoyed by strong performance in mining and quarrying activities.
The Services sector recorded a growth rate of 6.4 per cent, while the Agriculture sector posted a modest increase of 3.2 per cent.
In Agriculture, the crops sub-sector experienced the highest expansion, growing by 5.9 per cent year-on-year and 1.3 per cent quarter-on-quarter.
In contrast, the fishing sub-sector suffered a significant contraction, shrinking by 21.7 per cent year-on-year and 6.5 per cent quarter-on-quarter.
Within the Industry sector, mining and quarrying activities demonstrated notable growth, while the water and sewerage sub-sector experienced a decline.
In the Services sector, Information and Communication emerged as the fastest-growing sub-sector, underlining the critical role of technology and connectivity in Ghana’s economic landscape.
However, other personal services activities saw a decline during the period.
