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Weak performance in agric sector downs Ghana’s economic growth by 5.1%

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Ghana’s real Gross Domestic Product (GDP) declines 5.1% in the first quarter of 2011, the Government Statistician, Dr Grace Bediako has announced in Accra today June 22, 2011.

The agric sector declined by 35.7%, she said.

The revised 2010 GDP for Ghana was therefore, estimated at 7.7%.

Dr Bediako told reporters that the decline was due to less performance in the agriculture sector “associated with the sector’s strong seasonal production.”

But she explained that the fall was “Characteristic of the first and second quarters of each year.”

2011 First Quarter GDP Growth

According to the data for the quarter, all the sub-sectors of agriculture had negative growth.

“All sub-sectors had declines in output – crops by 36.5%, livestock 31.7%, forestry and logging by 41.3% and fishing with a decline of 19.5%”, the data indicated.

The industrial sector grew by 21.4% with the service sector recording a growth of 5.3%.

For estimates on year-on-year basis in the first quarter of 2011, the data showed a 23% growth of the country’s GDP over that of the same period in 2010.

 

By Ekow Quandzie

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One comment

  1. I was surprised at the 35.7% drop in growth in the Agric. sector in Q1 of 2011. But then, the report explained it away by the fact that the drop occurs each year ( Q1 & Q2 ). Does it mean that we can find solutions to these seasonal drops ?. However, it is heartwarming to note that the industrial sector recorded the highest growth. Long term solutions must be found to put paid to the seasonal drops once and for all, as the Agric. sector is of fundamental strategic importance to the overall national economic growth.