- Ghana is not producing enough soya beans
- Public officers receive training on procurement
- Ghanaians urged to make inputs into 2015 Budget
- GIFMIS opens for transaction processing
- High demand for Ghanaian honey in Turkey
- Gov’t assures telecommunications companies of st...
- 'Ghana needs a Payments Council' - report
- Producer Price Inflation rises to 47.4 per cent in...
- Oil Marketing Companies ends Petfun 2014
- More Ashanti companies fail to file self-assessmen...
- YES secretariat invites business plan proposals
- Multi-nationals must be checked to increase revenu...
- Minority accuses government of drawing money illeg...
- COCOBOD announces closure of main crop season
- Government to fight smuggling, counterfeiting and ...
Category: Business & Economics Created on Wednesday, 11 April 2012 21:47 Published Date Written by GNA Hits: 507
Accra, April 11, GNA -Revised estimates show that Ghana's economy grew 14.4 percent in 2011 from 8 percent in 2010, the national statistics office said on Wednesday.
Previous estimates put the growth at 13.6 percent.
Ebo Duncan, Head of Economics Statistic, said the industry sector recorded the highest growth of 41.1 percent, followed by Services sector while Agriculture recorded the lowest growth of less than 1 percent.
However, he said, the services sector remained the largest sector, contributing 48.5 percent to GDP at basic prices while the Industry sector is the second largest with 25.9 percent contribution.
Mr Duncan said crop production remained the largest activity, representing about one-fifth of total GDP (19.3 percent).
The revision also saw high growth rates recorded in mining and quarrying with 206.5 percent rise while construction grew by 20 percent.
Trade and information communication were up 17.9 and 17 percent respectively while manufacturing and other community, social and personal services grew by 13 percent each.
Activities that showed a decline in output included forestry and logging, which fell 14 percent, fishing declined by 8.7 percent and electricity grew by -0.8 percent.
Mr Duncan said final estimates for 2010 showed a growth of 8 percent over the 2009 estimates, which was 0.3 percentage points above the revised estimates for 2010.
The change was mainly due to the inclusion of crude oil from the Saltpond fields and the initial production from the Jubilee fields in December 2010.
Inter-Bank Forex Rates
See More Last Update: 28th August, 2014.