African Eye Report, Accra, Ghana, June 19, 2019//-Ghana’s professional Gross Domestic Product (GDP) for the first quarter of 2019 grew to 6.7% from 5.4% in the first quarter of 2018.
The non-Oil provisional 2019 for first quarter Real GDP grew by 6.0% year-on-year compared to 4.2% recorded for 2018 first quarter (Q1), according to the first quarter 2019 GDP figures released today by the Ghana Statistical Service (GSS).
Quarter-on-quarter seasonally adjusted 2019 Q1 GDP grew by 1.6% compared to 1.7% recorded for 2018Q4.
Speaking to the press on Wednesday, Government Statistician Prof Samuel Anim said, “Despite the industrial Sector recording the highest growth rate of 8.4 percent, the Information Communication and Technology sub sector increased growth from 16.3 percent to 37 percent, making it the highest contributor to the rate” .
Provisional 2019Q1 GDP at Constant 2013 Prices (Oil & Non-oil)
The constant GDP estimate (including oil) 2019Q1 is GH₵40,495.9 million while the estimate for 2018 Q1 was GH₵37,970.1 million.
The constant GDP estimate (excluding oil) for Q1 of 2019 is GH₵ 37,301.0 million. The value recorded for Q1 of 2018 was GH₵35,182.7 million.
Quarterly GDP for the Agriculture Sector
The year-on-year quarterly GDP growth rate for Agriculture is 2.2 % for the first quarter of 2019.
The livestock sub-sector recorded the highest year-on-year growth rate of 5.5 % while the Forestry and logging sub-sector recorded the lowest, with a contraction (-5.8 %).
Quarterly GDP for the Industry Sector
The year-on-year quarterly GDP growth rate for the Industry sector is 8.4% for 2019Q1.
The Mining & Quarrying sub-sector recorded the highest year-on-year quarterly GDP growth rate of 20.9% for 2019Q1, while the construction sub-sector recorded the lowest, with a contraction (-8.7%).
Quarterly GDP for the Services Sector
For the first quarter of 2019, the Services sector recorded a year-on-year quarterly GDP growth rate of 7.2%.
The Information & Communication sub-sector recorded the highest year-on-year quarterly GDP growth rate of 37.0% while the Finance & Insurance sub-sector recorded the lowest growth of 2.1%.
Instructively, the Gross Domestic Product (GDP) measures the value of final goods and services produced in the country.
Sectoral Distribution of 2019Q1 GDP Estimate (Including Oil)
| Sector | GDP Estimate (GH₵ million) | Percentage Distribution |
| Agriculture
Industry Services GDP at basic prices GDP at purchaser’s value |
15,569.5
26,208.7 37,345.4 79,123.9 84,726.7 |
19.7%
33.1% 47.2% 100.0% |