GHANA’S GDP GROWTH SLOWS TO 3.5 PCT IN 2016

ACCRA, Ghana’s provisional annual economic growth rate for 2016 stands at 3.5 per cent, down from 3.9 per cent in 2015, says acting Government Statistician Baah Wadieh.

Addressing a media conference here Wednesday to announce the gross domestic product (GDP) growth rate, Wadieh said for the year 2016, the services sector recorded a year-on-year growth rate of 5.7 per cent.

The information communication technology (ICT) sub-sector recorded the highest year-on-year GDP growth rate of 21.7 per cent while the community, social and other personal activities sub-sector recorded the lowest growth rate of – 0.6 per cent.

The year-on-year annual GDP growth rate for the industrial sector was – 1.4 per cent for 2016 while the electricity sub-sector recorded the highest year-on-year annual growth rate of 11.7 per cent for 2016, and the mining and quarrying sub-sector recorded the lowest at -10.7 per cent.

The year-on-year GDP growth rate for agriculture was 3.0 per cent for 2016 with the fishing sub-sector recording the highest year-on-year growth rate of 5.7 per cent and the forestry and logging sub-sector recording the lowest growth rate of 2.5 per cent.

Wadieh said GDP growth for the fourth quarter of last year stood at 4.1 per cent as against 3.9 per cent for the same period in 2015.

Source: NAM NEWS NETWORK