In Q4 2024, Ghana’s economy reported a 3.6% GDP growth, the lowest since Q3 2023, mainly due to a stagnant industrial sector. The services and agricultural sectors performed better with 6.3% and 2.9% growth respectively. Annually, GDP growth for 2024 totaled 5.7%.
In Q4 2024, Ghana’s economy experienced a year-on-year growth of 3.6%, marking its lowest performance since Q3 2023. This decline follows a robust 7.5% growth in the preceding quarter. The slow growth in the industrial sector, which only increased by 0.2%, significantly contributed to this downturn. In contrast, the services sector reported a 6.3% increase, while the agricultural sector saw a 2.9% rise.
For the entire year of 2024, Ghana’s gross domestic product (GDP) completed a year-on-year growth of 5.7%. This indicates that while the Q4 performance lagged, the overall annual GDP growth reflects a more favorable outcome across various sectors.
Ghana’s GDP growth has receded to a low of 3.6% in Q4 2024, notably influenced by minimal industrial sector growth. Despite this decline, the annual growth for 2024 stood at 5.7%, showcasing resilience, particularly in the services and agricultural sectors. Continuous monitoring of sector performances will be crucial for understanding future economic trends.
Original Source: www.tradingview.com
