Ghana’s economy continued its upward trajectory in the third quarter of 2024, posting a robust 7.2% year-on-year growth. This marks a significant increase from the 6.9% growth recorded in the second quarter.
The services sector remained the largest contributor to the economy, accounting for 42.9% of GDP. It was followed by the industry and agriculture sectors, which grew by 32.6% and 24.5%, respectively.
Key highlights of the economic performance include:
- Strong Industrial Growth: The industry sector led the way with a 10.4% year-on-year growth, driven by sectors like mining and quarrying.
- Agricultural Sector: While the overall agricultural sector grew by 3.2%, the crops subsector experienced a 5.9% growth, while the fishing subsector contracted by 21.7%.
- Services Sector: The information and communication sector was the fastest-growing within the services sector, while other personal services activities contracted.
This positive economic performance is a promising sign for Ghana, particularly as the government continues its efforts to restructure the national debt.
