Ghana’s economy grew 2.9% year-on-year in 2023, compared with a growth rate of 3.1% the previous year.
The rate is more than the 1.5 percent projected by the Ministry of Finance and slower than the 2023 figure. Growth for both the fourth quarter and the whole of 2023 was underpinned by services which contracted by 1.2 percent, mostly in the information and communication sub-sector.
This was followed by industry, with most growth observed in mining and quarrying, and agriculture.
At a media briefing in Accra, Government Statistician, Prof. Samuel Kobbina Annim said the last quarter of 2023 however recorded a higher growth rate of 3.8 percent driven mainly by the oil and gas sector.
He mentions the sectors that have contributed to the GDP estimates over the 11 years period.
