The economy of Ghana advanced 7.9% year-on-year in the fourth quarter of 2019, quickening from a 5.6% growth in the previous period. It was the strongest expansion since the third quarter of 2017, as services grew 11%, much faster than 5.7% in Q3, mainly boosted by information & communication (67.6%); real estate activities (36.5%); education (10.7%); public administration (9%); internal trade (7.4%) and professional, administrative & support activities (7.2%). At the same time, the industrial sector advanced solidly overall (5.4% vs 5.7%), driven by electricity (10.5%); manufacturing (7.9%) and mining & quarrying (7.7%). In addition, activity picked up in agriculture (6.8% vs 5.9%), amid increases in fishing (9.5%); crops (7.3%); forestry & logging (6.2%) and livestock (5.1%). On a quarterly basis, the GDP expanded 1.9%, the most in over two years, compared to 1.4% in the preceding quarter. In 2019, the economy grew 6.5% against 6.3% in 2018 and 8.1% in 2017
GDP Annual Growth Rate in Ghana averaged 6.65 percent from 2000 until 2019, reaching an all time high of 25 percent in the first quarter of 2012 and a record low of -1.60 percent in the third quarter of 2015. This page provides the latest reported value for - Ghana GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Ghana GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Ghana Statistical Service
GDP Annual Growth Rate in Ghana is expected to be -1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Ghana to stand at 2.00 in 12 months time. In the long-term, the Ghana GDP Annual Growth Rate is projected to trend around 3.00 percent in 2021 and 4.50 percent in 2022, according to our econometric models.