GDP Archives - Wontumi Online

11 Dec

Ghana’s Economy Grows By 7.2 Per Cent In 2024 Q3

Wontumi10 CommentsBusinessGDP

Ghana’s economy grew by 7.2 per cent in the third quarter of 2024, marking a significant recovery compared to the 2.2 per cent growth recorded during the same period in 2023, according to data released today by the Ghana Statistical Service. The growth is the strongest since pre-pandemic levels, with the last comparable performance being a 9.1 per cent expansion in the second quarter of 2019. On a seasonally adjusted basis, the country’s real Gross Domestic Product (GDP) increased by 1.7 per cent in Q3 2024 compared to the second quarter, slightly higher than the 1.6 per cent recorded in…

20 Sep

6.9% GDP Growth In 2024 Q2 Shows Economic Recovery – Finance Ministry

Wontumi1BusinessEconomic Growth, finance minister Amin Adam, GDP

The Ministry of Finance has announced that the latest Gross Domestic Product (GDP) figures from the Ghana Statistical Service (GSS) indicate a rapid recovery of the Ghanaian economy despite global challenges and ongoing debt restructuring. The Ministry attributes this strong economic rebound to the government’s macroeconomic stability and growth initiatives under the IMF-supported Post-Covid-19 Programme for Economic Growth (PC-PEG). “Overall real GDP growth for the first half of 2024 has shown a significant resurgence, with an average year-on-year growth of 5.8% for the period, a notable increase from the 2.9% recorded during the same period in 2023. This growth includes…

21 Jun

GDP Growth: Ghana’s Economy Regaining Momentum; It’s On A Steady Rebound – Ahiagbah

Wontumi1Businesseconomy, GDP, Richard Ahiagbah

The Director of Communications for the New Patriotic Party (NPP) Richard Ahiagbah has said that Ghana’s economy is regaining its strength as seen in the growth of the Gross Domestic Product (GDP). The GDP in volume terms was estimated to have increased by 4.7 % in quarter 1 (January to March) of 2024 compared to the same period in 2023, the Ghana Statistical Service (GSS) has announced. When seasonally adjusted, Ghana real GDP increased to 1.2% in quarter one (January to March) of 2024; a 0.2 percentage point higher than what was recorded in quarter four (October to December) of…

24 Jul

Ghana Records US$ 1.77Bn Trade Surplus; Represents 2.4% Of GDP

Wontumi1BusinessGDP

Ghana gained a trade surplus of $1.77 billion in the first six months of 2023. This amount is almost 2.4 percent of the country’s Gross Domestic Product (GDP). Overall exports were estimated to be $8.17 billion in the first half of the year. Total imports were estimated to be $6.40 billion for the same period, which is less than the $7.40 billion recorded in June 2022. These figures are from the Bank of Ghana’s Summary of Economic and Financial Data for July 2023. However, according to the data, gold was the most significant contributor to exports. It contributed $3.45 billion…

08 Jun

Statistical Service To Integrate Natural Resources In Determination Of GDP

Wontumi2BusinessGDP, Ghana Statistical Service

The Ghana Statistical Service (GSS) will soon begin the integration of the country’s natural resources in the determination of Gross Domestic Product (GDP). This is in line with the United Nations System for Environmental and Economic Accounts (SEEA) framework adopted in 2012 for all countries. The framework offers a common methodology to measure a country’s wealth as a combination of produced infrastructure, social and human natural resources, which are referred to as Natural Capital. At a pre-forum media engagement on Natural Capital Accounting (NCA), Mr Kwame B. Fredua, Ghana/World Bank NCA Programme Coordinator, Environmental Protection Agency (EPA), noted that Ghana’s natural assets were undervalued…

15 May

Exchange Rate Depreciations Contributed To Africa’s Public Debt By 10% Of GDP – IMF

Wontumi1BusinessExchange rate, GDP, IMF

The International Monetary Fund has pointed out that exchange rate depreciations contributed to Africa’s rise in public debt by about 10 percentage points of Gross Domestic Product (GDP) on average by end-2022. According to the Fund, weaker currencies pushed up public debt, with about 40% of public debt external in Sub-Saharan Africa and over 60% of that debt in US dollars for most countries. Again, it said in an analysis on the theme “African Currencies Are Under Pressure Amid Higher-for-Longer US Interest Rates” that growth and inflation (which reduces the real value of existing debts) helped to contain the public…

18 Sep

Ghana’s economy contracts by 3.2% in second quarter – Statistical Service

Wontumi2Businesseconomy, GDP, Ghana, GSS

Ghana’s Statistical Service (GSS) has reported a 3.2% contraction of the country’s economy for the second quarter of this year for the first time since 1983. The data provided also showed that Ghana’s Gross Domestic Product (GDP) in the 2nd quarter of this year increased from GHS 85.7 billion compared to GHS 84.3 billion recorded for the same period in 2019. According to government statistician, Professor Samuel Kobina Annim the contraction was as a result of the partial lockdown and the restrictions on certain activities brought on by the coronavirus pandemic. “For the first time, in 37 years, Ghana’s economy…