Ghana’s economy grows by 3.2% in quarter two of 2023

The economy of Ghana saw a 3.2% growth in the second quarter of 2023 according to provisional data from the Ghana Statistical Service (GSS).

When seasonally adjusted, the real GDP increased by 0.7 percent in the second quarter of 2023, a 0.1 percentage point lower than what was recorded in the first quarter of 2022.

Provisional real quarterly gross domestic product (QGDP) growth rate including Oil and Gas, is 3.2% (year on year) in the second quarter of 2023.

In the same period of 2022, the growth was 3.5%.

GDP growth rate without oil and gas (Non-Oil GDP) for second quarter of 2023 is 3.2% which compares to the same period in 2022 with a growth rate of 4.8%.

The Services sector recorded the highest growth of 6.3%, followed by the Agriculture sector with a growth of 6.0% and the Industry sector with a contraction of -1.9 percent growth rate.