The provisional real quarterly gross domestic product (QGDP), by production increased by 6.7% (year on year) in the first quarter of 2019.
In the same period in 2018, the increase was 5.4%. GDP growth rate without oil and gas (Non-Oil GDP) for first quarter 2019 is 6.0% compared to the same period in 2018 with a growth rate of 4.20%.
According to the Government Statistician of the Ghana Statistical Service, Professor Samuel K. Annim “the Industry sector recorded the highest growth of 8.4%; the Services sector followed with 7.2% and Agriculture with 2.2%.
On the nominal quarterly gross domestic product for period under review the “GDP esumate at current prices in purchaser’s value was GH¢84,726.7 million compared to GH¢72,999.1 million in the 1st quarter of 2018.
The non oil GDP (GDP without Oil and Gas) estimate at current prices for the 1st quarter of 2019 was GH¢81,954.3 million compared to GH¢71 326.9 milhon 1n the 1st quarter of 2018″.
He said the main drivers of the growth in the GDP were Information and Communication, Health and Social Work, Mining and Quarrying and Electricity.
“Information and Communication sub-sector increased from 16.3% in quarter one of 2018 to 37.0% in quarter one of 2019.
The Health and Social Work sub-sector slowed slightly to 22.1 % in quarter one of 2019 from 24.8% in the same period of 2018″.
The Mining and Quarrying sub-sector sub-sector also slowed slightly to 20.9% in quarter one of 2019 from 24.6% in quarter one of 2018.
Negative oontributors to the QGDP growth came from the sub-sectors of Construc’uon (-87%), Water Supply, Sewerage, Waste Management & Remedlatlon Activities (-64%), Forestry and logging (-5.8%) and Fishing (-1-5%).
Story by Edzorna Francis Mensah