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Ghana economic growth slowed to 3.5 pct in 2016

Xinhua, April 26, 2017 Adjust font size:

Provisional data released here by the Ghana Statistical Service on Wednesday indicated a subdued economic growth figure of 3.5 percent year-on-year for Ghana's economy in 2016, compared with the 3.8 percent year-on-year growth in the previous year.

The value of the economy, including oil, was estimated at 36. 01 billion Ghana cedis (8.52 billion U.S. dollars) for 2016, compared with 34.80 billion cedis in the previous year.

Announcing the figures here, Acting Government Statistician Baah Wadieh disclosed that Gross Domestic Product grew by 4.1 percent during the fourth Quarter (Q4) of 2016, compared with the 3.9 percent growth experienced in Q4 2015.

The services sector accounted for 56.9 percent of total GDP, while industry sector accounted for 24.2 percent, leaving the agriculture sector with 18.9 percent.

The services sector again experienced the highest growth rate of 5.7 percent while the agriculture sector experienced a 3.0 percent growth with industry contracting by 1.4 percent. Endit