The Ghana Statistical Service has disclosed that the rate for 2020 Second Quarter (Q2) Gross Domestic Product (GDP) stood at -0.8% compared to 1.2% 2020 First Quarter (Q1).
The 2020 Q2 GDP at current prices was estimated at GH₵85,758.1 million compared to GH₵84,312.0 million for 2019 Q2.
Addressing the media on the provisional Gross Domestic Product for The Second Quarter (April to June) of 2020 on 16th September, 2020, The Government Statistician Professor Samuel Kobena Annim said “in constant terms, the 2020 Q2 GDP was estimated at GH₵38,670.3 million compared to GH₵39,952.6 million for 2019 Q2”.
He said “The year-on-year quarterly GDP (Oil) growth rate for 2020 Q2 was -3.2% compared to the 5.7% recorded for Q2 2019”.
According to him, the year-on-year quarterly GDP (Non-Oil) growth rate for 2020 Q2 was -3.4% compared to the 4.3% recorded for 2019 Q2.
Information & Communication sub-sector recorded the highest expansion of 74.2%, whereas Hotel & Restaurants sub-sector recorded the highest contraction of 79.4%
Story filed by Edzorna Francis Mensah
