{"id":475,"date":"2022-11-13T16:57:57","date_gmt":"2022-11-13T16:57:57","guid":{"rendered":"https:\/\/nhyirafie.com\/?p=475"},"modified":"2022-11-13T16:57:57","modified_gmt":"2022-11-13T16:57:57","slug":"ghanas-gdp-growth-rate-increases-to-4-8-in-q2","status":"publish","type":"post","link":"https:\/\/nhyirafie.com\/ghanas-gdp-growth-rate-increases-to-4-8-in-q2\/","title":{"rendered":"Ghana\u2019s GDP growth rate increases to 4.8% in Q2"},"content":{"rendered":"

\"Ghana\u2019s<\/p>\n

Provisional figures released by the Ghana Statistical Service show that Ghana\u2019s economy grew by 4.8% in the second quarter (April to June) of 2022\u00a0 compared to the same period in 2021.<\/p>\n

Ghana\u2019s real GDP increased by 1.1% in the second quarter (April to June) of 2022; representing 0.2 percentage points higher than what was recorded in the first quarter (January to March) of 2022.<\/p>\n

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The Manufacturing, Crops, Mining & Quarrying, Information & Communication,
\nand Education sub-sectors were the main drivers of GDP growth for the second quarter of 2022, Government Statistician Samuel Kobina Annim told reporters, on Tuesday.<\/p>\n

Quarterly real GDP growth<\/strong><\/p>\n

Provisional real quarterly gross domestic product (QGDP) growth rate including Oil and Gas, is 4.8% (year on year) in the second quarter of 2022. In the same period of 2021, the growth was 4.2%.<\/p>\n

GDP growth rate without oil and gas (Non-Oil GDP) for second quarter of 2022 is 6.2 % which compares to the same period in 2021 with a growth rate of 6.6%.<\/p>\n

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The Services sector recorded the highest growth of 5.2%, followed by the Agriculture sector with a growth of 4.6% and the Industry sector with a 4.4 percent growth rate.<\/p>\n

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Real quarterly gross domestic product<\/strong><\/p>\n

The GDP (Including Oil & Gas) estimate at constant 2013 prices for the 2nd quarter of 2022 was GH\u00a241,205.5 million compared to GH\u00a239,304.6 million in the 2nd quarter of 2021.<\/p>\n

The Non-oil GDP at constant 2013 prices for the 2nd quarter of 2022 was
\nGH\u00a238,976.1 million compared to GH\u00a236,690.0 million in the 2nd quarter of
\n2021.<\/p>\n

Nominal quarterly gross domestic product<\/strong><\/p>\n

The GDP estimate at current prices in purchaser\u2019s value1 for the 2nd quarter of 2022 was GH\u00a2132,263.5 million compared to GH\u00a2102,326.5 million in the 2nd quarter of 2021.<\/p>\n

The Non-oil GDP (GDP without Oil and Gas) estimate at current prices for the 2nd quarter of 2022 was GH\u00a2123,080.4 million compared to GH\u00a297,227.9 million in the 2nd quarter of 2021.<\/p>\n

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The finance ministry in July\u00a0cut\u00a0its growth forecast for 2022 to 3.7% from 5.8%.<\/p>\n

Meanwhile, Ghana races against time to tie down a bailout programme as the economy struggles against the backdrop of higher inflation, tighter financial conditions, and weaker growth.<\/p>\n

The country\u2019s inflation rate climbed to the highest level in 21 years in August fueled by a slide in the cedi. Consumer prices surged 33.9% in August from 31.7% in July.<\/p>\n

Ghana is in dire need of a $3 billion package from the IMF to shore up its economy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Provisional figures released by the Ghana Statistical Service show that Ghana\u2019s economy grew by 4.8% in the second quarter (April to June) of 2022\u00a0 compared to the same period in 2021. Ghana\u2019s real GDP increased by 1.1% in the second quarter (April to June) of 2022; representing 0.2 percentage points higher than what was recorded […]<\/p>\n","protected":false},"author":2,"featured_media":501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/posts\/475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/comments?post=475"}],"version-history":[{"count":1,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/posts\/475\/revisions"}],"predecessor-version":[{"id":512,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/posts\/475\/revisions\/512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/media\/501"}],"wp:attachment":[{"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/media?parent=475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/categories?post=475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/tags?post=475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}