The Finance Minister has highlighted the current figures from the Ghana Statistical Service on the Gross Domestic Product (GDP) progress fee.
Presenting the 2025 funds assertion in Parliament on Tuesday, March 11, he stated provisional 2024 GDP statistics printed by the Ghana Statistical Service on the tenth of March 2025 confirmed that total GDP grew by 5.7 per cent of GDP in comparison with the expansion fee of three.1 per cent recorded over the identical interval.
“The key driver of this growth was largely coming from gold mine including illegal small-scale mining (galamsey). Galamsey growth rate cannot be sustainable, ” he stated.
Provisional knowledge from the Ghana Statistical Service indicated that Ghana’s economic system expanded by 5.7% in 2024, increased than the revised 3.1% progress fee in 2023.
However, progress within the fourth quarter of 2024 slowed to three.6%, down from 7.2% within the third quarter, reflecting a lack of momentum regardless of ongoing financial resilience.
The slowdown in This autumn was largely pushed by weaker progress within the Industry sector, which expanded by simply 0.2%.
A major issue was the sharp contraction in mining and quarrying, which accounted for about 43% of the Industry sector’s complete worth.
The Services sector remained the most important contributor to GDP, representing 49.2% of complete output, adopted by Industry (31.9%) and Agriculture (19.0%).
At fixed 2013 costs, Ghana’s oil GDP for This autumn 2024 stood at GH₵53,137.0 million, whereas non-oil GDP was GH₵50,262.5 million. In nominal phrases, GDP at primary costs reached GH₵308,086.5 million.