Ghana’s economy recorded a slower growth of 2.9 percent between July and September this year as against 6.5 percent during the same period last year, the provisional data from the Ghana Statistical Service (GSS), said.The Government Statistician, Professor Samuel Kobina Annim, said at presentation of the quarterly Gross Domestic Product (GDP) report in Accra on Wednesday that the economy was now worth over GH¢44.29 billion when measured in constant prices (real GDP), compared to the GH¢43.10 billion economic worth last year.
He stated that the non-oil GDP for the third quarter of the year grew by 3.6 percent, as against the 8.2 percent growth recorded in the same period in 2021.
According to him, while real GDP compares changes in the prices of goods and services to the base year of 2013, GDP at current or purchaser’s value measures the prices as they pertain in the market currently at the time of evaluation.
The report by the Graphic quoted Prof. Annim as saying that the GSS put the GDP at current prices at the third quarter of the year to be GH¢149.87 billion, compared to GH¢112.49 billion in the same period last year.
He estimated non-oil GDP at current prices to be GH¢139.98 billion in the third quarter of this year, compared to GH¢106.99 billion in the third quarter last year.
The growth, he said, was driven by gains in three sub-sectors, which expanded by more than 10 percentage points in quarter three.
They are information and communication which grew by 18.4 per cent; mining and quarrying, which grew by 14.9 per cent, and education, which went up by 10.2 per cent.
However, nine other sub-sectors dragged the economic growth for the quarter under review.