News
Services sector drives 4.9 per cent first quarter economic expansion
Ghana’s economy expanded 4.9 per cent year-on-year in the first quarter of 2020 compared to 6.7 per cent in the same period last year, driven mainly by the services sector, the Ghana Statistical Service (GSS) said on Wednesday.
The Services sector recorded the highest growth of 9.5 per cent; the Agriculture sector expanded by 2.8 per cent and the Industry sector by 1.5 per cent.
The Services sector contributed 3.6 percentage points (73.1 percent) to the overall Gross Domestic Product (GDP) growth rate of 4.9 per cent in the first quarter.
Professor Samuel Kobina Annim, Government Statistician announced the figures at a News briefing in Tamale on Wednesday.
Professor Annim said the main sub-sectors driving GDP growth in January to March 2020 GDP were Information & Communication, Manufacturing, Education and Public Administration and Defence, and Social Security.
Information and Communication sub-sector expanded from 67.6 per cent in quarter one of 2019 to 77.4 per cent in the first quarter of 2020.
Its contribution to GDP growth was 2.10 percentage points or 42.7 per cent.
Manufacturing sub-sector recorded a lower growth of 5.0 per cent in the first quarter of 2020 compared to 5.6 per cent in same period of 2019.
It contributed 0.60 percentage points or 12.2 per cent to the overall GDP growth.
The Public Administration & Defence, Social Security sub-sector expanded by 13.6 per cent in quarter one of 2020 from 9.0 per cent in quarter one of 2019 contributing 0.40 percentage points to GDP growth.
Negative contributors to the first quarter GDP growth came from the sub-sectors of Trade, Repair of Vehicle, Household Goods Construction, Forestry & Logging and Professional, Administrative & Support activities.
Construction sub-sector contracted by 6.9 per cent during the period and contributed -10.6 per cent to GDP growth.
GDP growth rate without oil and gas (Non-Oil GDP) for first quarter 2020 is 4.9 per cent which compares to the same period in 2019 with a growth rate of 6.0 per cent.
GNA
Government has inaugurated a Technical Committee to drive the implementation of the Accra Marine Drive Tourism Investment Project, a key initiative aimed at transforming the capital’s waterfront into a world-class tourism and commercial hub.
Minister for Tourism, Culture and Creative Arts, Abla Dzifa Gomashie, described the move as a critical step to accelerate progress, stressing the need for efficiency, collaboration, and accountability.
The Committee, chaired by Deputy Minister Yussif Issaka Jajah, will coordinate stakeholders, address bottlenecks, and ensure timely delivery of the project.
The initiative is expected to boost tourism, create jobs, and stimulate economic growth, reinforcing Ghana’s commitment to sustainable development.
The Ghana National Fire Service (GNFS) has stepped up its fire safety education efforts in Suhum Municipality and Abetifi Odwenease as part of ongoing campaigns to prevent fire outbreaks and improve emergency readiness.
In Suhum, fire officers engaged traders and customers, educating them on handling LPG leakages, proper use of fire extinguishers, and general shop safety practices. Meanwhile, the Kwahu East Command extended outreach in Abetifi Odwenease, visiting homes, drinking spots, construction sites, and stores to promote safe handling of flammable materials, proper electrical usage, and correct gas cylinder placement.
Practical demonstrations on fire extinguisher use were conducted, and residents were encouraged to adopt good housekeeping habits and proactive safety measures to reduce fire risks and protect lives and property.
