1th qtr 2013 GDP growth estimate at 6.7%

By Fred Yaw Sarpong

The total value of goods and services produced in the first quarter of 2013 was GH¢7,213.7 million, compared to GH¢6,757.7 million recorded in the corresponding period in 2012. This is according to figures released in Accra yesterday by the Ghana Statistical Service (GSS).

This represents 6.7% Gross Domestic Product (GDP) growth for the first quarter of 2013, as against 10.3% in the previous year’s first quarter. This total includes net indirect taxes.

All the sectors of the economy, contributed to this growth were Agriculture, Industry and Services.

The acting Government Statistician, Dr. Philomena Nyarko, who announced this in Accra yesterday, said during the period of the first quarter of 2013, Agriculture recorded a total value of GH¢1,025.3 million, as compared to GH¢1,014.7 million in first quarter of 2012. This represents 1.1% growth.

The industry sector had negative 0.8% growth, recording a value of GH¢1,930.6 million as against GH¢1,946.9 million in 2012 first quarter. The services sector recorded 12.0% GDP growth with a value of GH¢3,781.7 million as against GH¢3,374.6 million at the end of first quarter of 2012.

Dr. Nyarko said, the main contributors of the agriculture sector were livestock and fishing subsectors. They grew by 3.2% and 36.4% respectively.

On the part of the industry sector, electricity 6.6%; mining and quarrying 4.1%; and construction 1.2% were the main contributors.

She stated that the service sub-sectors, which contributed to the highest growth of 12.0%, comprised real estate, professional, administrative and support services activities 23.7%; information and communication activities 23.1%; financial and insurance activities 30.1%.

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