Business

Ghana’s economy expands by 6.6% in Q3’21

Ghana’s economy expanded by 6.6% in the 3rd quarter of this year, provisional data released by the Ghana Statistical Service, yesterday, shows. However, compared with same period of 2020, the growth rate was -3.2 per cent. Also, without oil, the economy grew at a rate of 8.6 pet cent in the nine months of 2021. Still, this is a significant increase from what was recorded the same period last year, which was a contraction, as a result of the Covid-19. According to the data, the main sub-sectors that expanded in quarter three of 2021 are Education (24.2%); Health & Social Works (20.5%); Information & Communication (17.0%); Professional Administrative & Support (16.7%); Hotel & Restaurants (16.4%); Public Administration & Defence, Social Security (16.3%), Fishing (14.3%); Real Estate (11.5%); Crops (9.8%). For sectoral growth rates, the services sector recorded the highest growth rate of 13.4 per cent, followed by the agriculture sector with 9.2 per cent.

 

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