According to provisional estimates from the Ghana Statistical Service, Ghana's economy experienced a growth rate of 3.2% in the second quarter of 2023, compared to 3.5% in the same period in 2022 and a revised 3.3% in the first quarter of 2023. Excluding the oil and gas sector, the Gross Domestic Product (GDP) growth rate for the second quarter of 2023 was also 3.2%, compared to 4.8% in the second quarter of 2022.
The Services sector saw the highest growth rate at 6.3%, followed by the Agriculture sector with a growth rate of 6.0%. However, the Industry sector contracted by 1.9%.
The Ghana Statistical Service reported that three sub-sectors experienced growth rates of over 10%: Information and communication (26.4%), Fishing (12.2%), and Health and Social Work (11.0%).
On the other hand, six sub-sectors contracted in the second quarter of 2023. These included Construction (-11.7%), Wholesale and Retail Trade (including repair of motor vehicles and motorcycles) (-5.3%), Electricity (-5.1%), Forestry (-4.2%), Water Supply, Sewerage, Waste Management and Remediation Activities (-3.3%), and Manufacturing (-0.5%).
In terms of GDP at current prices in purchaser's value, the estimate for the second quarter of 2023 was ¢185.618.8 billion, compared to ¢130.657.5 billion in the second quarter of 2022.
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