Provisional Real GDP for Q3 of 2017 grew by 9.3%

The Ghana Statistical Service (GSS) has disclosed that, the Provisional Real Gross Domestic Product (including Oil) for the 3rd quarter of 2017 grew by 9.3% (year-on-year‘).
The Real Gross Domestic Product for the 3rd quarter of 2017 grew by 9.3% (year-on-year) compared to 4.6% recorded for the 3“1 quarter of 2016.
At a news conference in Accra, the Acting Government Statistician, Baah Wadieh, said, “The Industry sector recorded the highest growth of 16.6%; the Agriculture sector followed with 10.0% and Services with 5.7%.”
According to him, The Oil GDP estimate at current prices at purchaser’s value for the 3rd quarter of 2017 was GH¢56,199.9 million compared to GH¢45,464.0 million in the 3ml quarter of 2016.
“The Non-oil GDP estimate at current prices for the 3rd quarter of 2017 was GH¢53,198.7 million compared to GH¢44,489.9 million in the 3m quarter of 2016.”
He noted that, “The Oil GDP estimate at constant 2006 prices for the 3rd quarter of 2017 was GH¢ 10,830. million compared to GH¢9,913.0 million in the 3rd quarter of 2016.
The Non-oil GDP at constant 2006 prices for the 3rd quarter of 2017 was GH¢9,960.4 million compared to GH¢9,407 .5 million in the 3rd quarter of 2016.”
On Seasonally-Adjusted GDP, the Real Gross Domestic Product (including oil) growth rate for the 3rd quarter of 2017 was 2.5%.
In the Agriculture sector, the Fishing sub-sector grew by 14.2%, compared to -4.4% in the 2nd quarter of 2017.
The Crops sub-sector grew by 3.3% in the 3rd quarter of 2017, compared to 0.9% growth recorded in the 2nd quarter of 2017.
 The Forestry and Logging sub-sector however, contracted by a growth rate of -O.3%.
Within the Industry sector, the Mining and Quarrying sub-sector grew by 9.8% in the 3rd quarter of 2017, compared to 12.1% in the 2nd quarter of 2017.
 The Water and Sewerage sub-sector grew by 5.2% in the 3rd quarter of 2017, compared to 3.2 % growth recorded in the 2nd quarter of 2017.
 Construction sub-sector recorded the least growth rate of 0.6%, compared to 0.2% in the 2nd quarter of 20 17.
In the Services sector, Health and Social Works grew by 5.4% compared to the 4.5% growth rate recorded in the 2nd quarter of 2017 .
The Public Administration, Defence and Social Security sub-sector grew by 3.5% in the 3rd quarter of 2017 compared to 0.5% in the 2rd quarter of 2017.
The least growth rate of -1.0% was observed in the Finance and Insurance sub-sector, GSS announced.
 Source: Francis Edzorna Mensah

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