SPONSORSHIP AD HERE  
News

Home

 

March 11, 2016

 

2008 GDP exceeds growth target
Masahadu Ankiilu Kunateh, Ghanadot

Accra, April 30, Ghanadot - Figures released by the Ghana Statistical Service (GSS) disclosed that the Ghana’s economy grew at the rate of 7.3% of Gross Domestic Product (GDP) for 2008 as against 7% projected by the government at the same period.

According to the GSS, “The revised real GDP estimate (GDP at constant 1993 prices) for 2008 was GH¢795.1million, representing 7.3% increase over the final GDP estimates for 2007 (GH¢741.2million)”, while the nominal GDP (GDP at current prices) was GH¢17,617.6 million.

Releasing the revised GDP estimates for 2008 in Accra, yesterday, the Director of the Economic Statistics, GSS, Magnus Ebo Duncan added that the various sectors of the Ghanaian economy contributed to the real GDP.

The agricultural sector continues to dominate the economy, with a 33.59% share of the total GDP. Growth in the sector was 5.1%, driven by crops and livestock sub-sector which grew by 5.82%.

Mr. Duncan observed that good rainfall pattern, coupled with increase in area under cultivation and use of improved seeds, led to the increase in output of the crops sub-sector.

Additionally, growth in the industry sector was 8.1% and contributed 25.89% to the total GDP, whilst mining and quarrying sub-sector grew by 2.11%.

Gold recorded increase in output while all the other minerals such as manganese, bauxite and diamond recorded negative growth.

The electricity sub-sector which forms part of the industry sector recovered from a negative growth in 2007 to record an increase of 19.42% in 2008, the manufacturing sub-sector, which had a negative growth in 2007, grew by 4.53%.

Indeed, the service sector had the highest growth rate (9.3%). Its share of total GDP was 31.81%, a 1.78% percentage points below that of agricultural sector.

In the service sector, all the sub-sectors grew more than 8%, except community, social and personnel services, and producers of private non-profit services.

However, the wholesale and retail trade, hotels and restaurants sub-sector recorded the highest growth of 10.16%, followed by government services sub-sector, which recorded 9.7%.

Dr. Grace Bediako, the Government Statistician, used the occasion to appeal to all stakeholders involve in giving out information to the service to release timely information to the GSS to enable them compile the GDP report and release it on time.


“In the GDP compilations, as with most other statistical indicators, we depend on other institutions, public and private, financial and administrative, to fulfill the requirements of the GDP estimation process”, she added.


Ghanadot


 

Send This Page To A Friend:

2008 GDP exceeds growth target

Accra, April 30, Ghanadot - Figures released by the Ghana Statistical Service (GSS) disclosed that the Ghana’s economy grew at the rate of 7.3% of Gross Domestic Product (GDP) for 2008 as against 7% projected by the government at the same period.
.... More

 

Women's rights activist bemoans low appointment of women as MMDCE


Accra, April, Ghanadot - Nana Oye Lithur,a women's rights activist has expressed her displeasure about the low number of women appointed by the President to the position of Metropolitan, Municipal and District Chief Executive (MMDCE)......
More

COPS and the smuggling on Ghana's border

Accra, April 29, Ghanadot - Records from the Customs, Excise and Preventive Service (CEPS) show that smuggling of commercial goods is on the ascendancy in the various border areas across the country and the country is losing $10 million every year.
... More

 

Companies asked to respect business code

Tema, April 30, Ghanadot/GNA – Mr. Johnson Ben Oduro, Manager of Ghana Business Code (GHBC), has urged companies and business organizations to abide by the code to ensure fair treatment of stakeholders....
.More

  ABC, Australia
FOXNews.com
The EastAfrican, Kenya
African News Dimensions
Chicago Sun Times
The Economist
Reuters World
CNN.com - World News
All Africa Newswire
Google News
The Guardian, UK
Africa Daily
IRIN Africa
The UN News
Daily Telegraph, UK
Daily Nation, East Africa
BBC Africa News, UK
Legal Brief Africa
The Washington Post
BusinessInAfrica
Mail & Guardian, S. Africa
The Washington Times
ProfileAfrica.com
Voice of America
CBSnews.com
New York Times
Vanguard, Nigeria
Christian Science Monitor
News24.com
Yahoo/Agence France Presse
 
  SPONSORSHIP AD HERE  
 
    Announcements
Debate
Commentary
Ghanaian Paper
Health
Market Place
News
Official Sites
Pan-African Page
Personalities
Reviews
Social Scene
Sports
 
    Currency Converter
Educational Opportunities
Job Opening
FYI
 
 

ThisWeekGhana.com is
GhanaDot.com
Remember to spell the D-O-T
before the dot com

 
Send This Page To A Friend:

The Profile Africa Media Group