The Ghana Statistical Service has said the economy recorded an expansion of 4.8 percent in the second quarter of 2022.
This was higher than the growth rate of 3.4 percent which was recorded in the first quarter of the year.
The GSS in its latest data attributed the country’s Manufacturing (8.8%), Crops and Cocoa (4.5%), Mining and Quarrying (4.4%), Information and Communication (12.4%) and Education sub-sectors as the main drivers for growth.
It added that the Services sector which is a key driver recorded an expansion of 5.2 percent, which is more than the national average. This was however followed by Agriculture which recorded 4.6 percent while the Services recorded 4.4 percent growth rates.
In addition to this, the GSS said some nine sub-sectors within the Services sector all experienced significant growth rates.
In terms of sub-sectors that witnessed contraction, Real Estate (-5.7%) and Professional Administrative and Support (-11.0%) were the notable sectors.
Also, some three sub-sectors within the Agriculture sector recorded an expansion during the period. These were; were Fishing (7.8%), Livestock (5.8%) and Crops and cocoa (4.5%).
The data also showed the Forestry and Logging sectors recorded a contraction in their growth rate of -0.2 percent.
Meanwhile, key sectors across industries such as Manufacturing (8.8%), Mining and Quarrying (4.4%) and Construction (0.4%) sub-sectors also recorded an expansion.
The Electricity (-2.2%) and Water Supply, Sewerage, Waste Management and Remedial Activities (-2.7%) however all recorded a contraction within the period.
The GSS data showed that the Services sector continued to be the largest sector of the Ghanaian economy which recorded an expansion in the second quarter of 2022.
The sector recorded a growth share of 45.8 percent of Gross Domestic Product.
Source; Ghanaweb