Ghana's economy
grew 3.3 per cent in the first three months to March 2022 compared with 3.6 per
cent in the same period last year, the Ghana Statistical Service said on
Wednesday.
However, the first quarter growth is
the lowest since the country recovered from the contractions recorded during
the COVID-19 pandemic.
Addressing a press conference on the
Gross Domestic Product for the first quarter, Professor Samuel Annim, the
Government Statistician, said the growth was said growth was driven by five
areas of Information and Communication 1.0 per cent, Crops and Cocoa 00.9 per
cent, Transport and Storage 0.4 per cent, Manufacturing 0.3 per cent and Trade:
Repair of Vehicles, Household goods 0.3 per cent.
Overall, the year-on-year quarterly
GDP growth rate for Agriculture was 5.6 per cent for the first quarter of 2022
with the fishing sub-sector recording the highest year-on-year growth rate of
26.1 per cent while the Forestry & Logging sub-sector recorded the lowest,
with a contraction of 0.5 per cent.
The year-on-year quarterly GDP growth
rate for the Industry sector is 1.3 per cent for the first quarter of 2022.
The Water Supply, Sewerage, Waste
Management & Remediation Activities sub-sector recorded the highest
year-on-year quarterly GDP growth rate of 25.4 per cent for 2022, while the
Construction sub-sector recorded the lowest, with a contraction of negative 2.6
per cent.
For the first quarter of 2022, the
Services sector recorded a year-on-year quarterly GDP growth rate of 3.7 per
cent.
On a year-on-year basis, the
Information & Communication sub-sector recorded the highest year-on-year
quarterly GDP growth rate of 26.6 per cent while the Professional,
Administrative & Support Service activities sub-sector recorded the lowest
growth of negative 12.8 per cent.
Overall, the Services sector remains
the largest sector of the economy with a 45 per cent share of GDP while that of
Industry was 32 per cent and Agriculture 23 per cent.
Source:GNA