The Ghana Statistical Service (GSE) said on Wednesday, Ghana’s economy grew provisionally by 8.5 % in 2017 compared to 3.7 % recorded in 2016.
Acting Government Statistician, Mr Baah Wadieh, who announced this, attributed the growth to increased oil and gas production. Oil production grew by 80.4 percent in 2017.
The Industry sector recorded the highest growth rate of 16.7 percent, followed by Agriculture 8.4 percent and the Services 4.3 percent sectors.
Services remained the largest sector but its share of GDP decreased from 56.8 percent in 2016 to 56.2 percent in 2017.
The sector’s growth rate also decreased from 5.7 % in 2016 to 4.3 percent in 2017.
However, two of the sub-sectors in the services sector recorded double-digit growth rates, including Health and Social Work 14.4 % and Information and Communication 13.2 %.
The Industry sector, the highest growing sector with a GDP share of 25.5 percent, had its growth rate increasing from -0.5 percent in 2016 to 16.7 percent in 2017.
Copyright © 2019 Ghanalive.TV. All Rights Reserved.