Ghana Statistical Service report reveals Ghana’s economy grew by 6.5% in 2019
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Ghana Statistical Service report reveals Ghana’s economy grew by 6.5% in 2019

- The Ghana Statistical Service has revealed Ghana's economy grew by 6.5% in the year 2019

- It added that the economy experienced growth levels of 6.3% and 8.1% in 2018 and 2017 respectively

- The GDP per capita income also grew from GHS10,150 in 2018 to GHS11,541 in 2019

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The Ghana Statistical Service (GSS) reports that Ghana’s economy grew by 6.5% in the year 2019.

This is according to revised estimates by the Service and has been compared with the 6.3% recorded in 2018 and 8.1% recorded in 2017.

The economy also recorded a growth of 5.8% of the Gross Domestic Product (GDP) for the non-oil sector.

Ghana Statistical Service reports reveals Ghana’s economy grew by 6.5% in 2019

Professor Samuel Kobina Annim, Head of the GSS Source: ucc.edu.gh
Source: UGC

READ ALSO: Ghana's economy recognised as one of the best options for growth in Africa

A classfmonline.com report shows that the GDP per capita income grew from GHS10,150 in 2018 to GHS11,541 in 2019.

YEN.com.gh understands that the services sector recorded the highest growth rate of 7.6%, followed by Industry with 6.4% and Agriculture, 4.6%.

The services sector, which remains the largest aspect of the economy, experienced an increase in its share of GDP growth from 46.3% in 2018 to 47.2% in 2019.

The Industry sector contributed 2.4 percentage points (37.5%) to 2019 annual GDP growth rate, though its share of GDP at basic prices increased by 0.2% from 34.0% in 2018 to 34.2% in 2019.

The agriculture sector grew by 4.6% in 2019 compared to a growth rate of 4.8 percent in 2018.

Its share of GDP declined from 19.7% in 2018 to 18.5% in 2019.

Meanwhile, YEN.com.gh has learned that the rate of inflation for March 2020 remained the same as that of the previous month.

The unchanged rate of 7.8% implies that the prices of goods and services remained the same.

Per a report by the Ghana Statistical Service (GSS), month-on-month inflation between February 2020 and March 2020 was however 0.8%.

READ ALSO: Ghana, 2 others, named as part of the fastest-growing nation brands in 2019

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Source: Yen

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