[ 2012-04-12 ]

Ghana's GDP growth now 14.4%
The total value of goods and services produced in
2011 was almost 60 billion cedis, about four
billion more than the previous provisional
estimate.

According to the revised GDP estimate released by
the Ghana Statistical Service, the economy also
grew by14.4 percent for the period, which is 0.8
percentage points more than the previous estimate.


The revision is based on 90 percent of the data
needed to compute the GDP.

Joy Business can confirm that the services sector
still remains the backbone of the economy,
accounting for about a half of goods and services
produced for last year, followed by industry with
25.9 percent, and Agric with 25. 6 percent.

In terms of growth, industry recorded the highest,
with 41.1 percent, with services coming in second
with 8.3 percent. Agriculture had the lowest
growth of 0 .8 per cent.

Mining and quarrying helped push industry’s growth
with 206 percent.

All the sub-sectors under services recorded some
significant growth; however the same cannot be
said for the agriculture which performed badly,
with the exception of cocoa, which went up by 14
percent.

The statistical service also puts the final GDP
growth rate for 2010 at 8 percent from a revision
of 7.7 per cent.

The performance of the services, now makes the
country a service led economy

Source - Joy News

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