By Edzorna Francis Mensah
Ghana’s provisional real Gross Domestic Product (GDP) in volume terms has increased by 4.2% in quarter one (January to March) of 2023 compared to the same period in 2022.
According to a release by the Ghana Statistical Service on June 21, 2023, under seasonally adjusted conditions, Ghana’s real GDP increased by 1.1% in quarter one (January to March) of 2023, 0.3 percentage points higher than what was recorded in quarter four (October to December) of 2022.
Public Administration, Defense & Social Security, Health, Education, Information & Communication sub-sectors were the main drivers of GDP growth for the first quarter of 2023.
The main sub-sectors with more than 10 percent expansion in quarter one of 2023 are: Pubhe Administration, Defense & Social Security with 37.6%, Health & Socal Work -with 31.6%, Education- with 26.0%; and Information & Communication recording 18.9%.
According to the Government Statistician, Professor Samuel Kobina Annim, Seven sub-sectors contracted (negative growth) in quarter one of 2023.
He submitted that, Water Supply, Sewerage, Waste Management & Remediation Activities -6 4% followed by Construction with -6.0%, and Wholesale and retail trade; repair of motor vehicles and motorcycles -5.3%.
The rest are Fishing (-3.3 ), Mining and quarrying (-2.9° 0), Manufactunng (-2.5%), Hotels and Restaurants (-0.2%).
