Ghana Economy Grows 4.1% in Q1

The Ghanaian GDP expanded 4.1 percent year-on-year in the first three months of 2015, rebounding from a downwardly revised 3.8 percent contraction in the first quarter of 2014.

The agriculture sector rose 7.4 percent year-on-year, services advanced 4.7 percent and industrial production expanded 0.9 percent.  

In the last three months of 2014, the GDP advanced a revised 4.5 percent, less than a 4.6 percent expansion initially reported.

In the last 2 years the economic growth was much below potential as the country faced a power crisis. While energy demand rises at 10 percent a year, blackouts became more frequent due to low water dam levels and lack of gas to power thermal plants.

For 2015, the government expects growth of 3.9 percent, well below the 7.4 percent average in the last fifteen years.

Ghana Economy Grows 4.1% in Q1

Joana Taborda |
6/23/2015 11:58:36 AM