The Ghana Statistical Services (GSS) has revealed that the size of Ghana’s economy stood at GH¢841.63 billion in 2023, showing some significant growth in the last months.
This included net indirect taxes estimated at GH¢58.74 billion.
In 2022, the size of the country’s economy or Gross Domestic Product was estimated at GH¢614.33 billion.
According to the Ghana Statistical Services, the services sector constituted the biggest sector, accounting for GH¢357.34 billion.
This represented 45.6% contribution to GDP.
Industry followed with GH¢247.941 billion, about 31.7% contribution to GDP.
Agriculture was estimated at GH¢177.606. billion (22.7% contribution to GDP).
The top five Sub-Sectors by Share of GDP were Crops (19.4%), Trade; Repair of Vehicles, Household Goods (18.3%), Mining and Quarrying (12.9%), Manufacturing (12.1%), Transport and Storage (6.0%).
According to the Ghana Statistical Services, the last quarter of 2023, recorded the highest real GDP growth rate (3.8%) across the four quarters with the Industry sector reversing a consistent contraction in the first three quarters to an expansion of 1.6% in the 2023 quarter 4.
The report added that Gross National Income per capita from a local currency perspective has more than doubled since 2018, from GH¢9,813 to GH¢25,349.
However, from a US dollar viewpoint, the report said the income per head has remained about the same in the last six years, ranging from a highest $2,453 to a lowest of $2,126.
Ghana’s economy recorded a 2.9% Gross Domestic Product (GDP) growth in 2023, stronger than the revised 1.5% by the Finance Ministry.
The growth rate was slower than the 3.1% recorded in 2022.
