Ghana’s GDP growth rate rises to 4.8% in Q2

According to preliminary figures released by the Ghana Statistical Service, Ghana’s economy grew by 4.8% in the second quarter of 2022 (April to June) compared to the same period in 2021.

Ghana’s real GDP increased by 1.1% in the second quarter (April to June) of 2022, a 0.2 percentage point increase from the first quarter (January to March) of 2022.

and Education sub-sectors were the main drivers of GDP growth for the second quarter of 2022, Government Statistician Samuel Kobina Annim told reporters, on Tuesday.

Quarterly real GDP growth

Provisional real quarterly gross domestic product (QGDP) growth rate including Oil and Gas, is 4.8% (year on year) in the second quarter of 2022. In the same period of 2021, the growth was 4.2%.

GDP growth rate without oil and gas (Non-Oil GDP) for second quarter of 2022 is 6.2 % which compares to the same period in 2021 with a growth rate of 6.6%.

The Services sector recorded the highest growth of 5.2%, followed by the Agriculture sector with a growth of 4.6% and the Industry sector with a 4.4 percent growth rate.

Real quarterly gross domestic product

The GDP (Including Oil & Gas) estimate at constant 2013 prices for the 2nd quarter of 2022 was GH¢41,205.5 million compared to GH¢39,304.6 million in the 2nd quarter of 2021.

The Non-oil GDP at constant 2013 prices for the 2nd quarter of 2022 was
GH¢38,976.1 million compared to GH¢36,690.0 million in the 2nd quarter of
2021.

Nominal quarterly gross domestic product

The GDP estimate at current prices in purchaser’s value1 for the 2nd quarter of 2022 was GH¢132,263.5 million compared to GH¢102,326.5 million in the 2nd quarter of 2021.

The Non-oil GDP (GDP without Oil and Gas) estimate at current prices for the 2nd quarter of 2022 was GH¢123,080.4 million compared to GH¢97,227.9 million in the 2nd quarter of 2021.

By: Rainbowradioonline.com/Ghana

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