Third Quarter GDP rises to 4% in Ghana

Ghana cedis

The provisional year-on-year 2016 third quarter (Q3) Real Gross Domestic Product (GDP), including Oil, grew by 4.0 per cent compared to 3.5 per cent recorded for 2015 Q3.

Acting government statistician Mr Baah Wadieh attributed the growth to the resumption of oil production from the Jubilee Field and the start of production from the TEN fields.

The services sector recorded the highest growth of 4.7 per cent boosted by transport and storage, information and communication, public administration, defence and social security.

The industry sector grew by 3.9 per cent led by the construction sub-sector, electricity and mining and quarrying.

However, the sub-sectors of manufacturing and water and sewage contracted during the period.

The agriculture expanded by 2.3 per cent on the back livestock, crop and cocoa, forestry and logging, which all grew during the period.

Source: GNA