ACCRA, Dec. 21 (Xinhua) -- Ghana recorded a 2.9 percent expansion in its gross domestic product (GDP) during the third quarter (Q3) this year, according to data released by the Ghana Statistical Service on Wednesday.
Samuel Kobina Annim, the government statistician, told a press conference that the agriculture sector saw a growth rate of 4.6 percent, followed by the service sector at 3.9 percent, and the industry sector, 0.9 percent.
"This is the lowest growth in the last eight quarters after the economy rebounded from the shocks of COVID-19," he said. "Contraction in the growth rates of manufacturing, construction, and electricity production caused a decline in the growth rate of the industry sector to 0.9 percent."
Sub-sectors such as professional administrative support, real estate, hotel and restaurant, trade, repair of vehicles and household goods, as well as other personal service activities contracted, dragging down the performance of the services sector, Annim said.
Ghana, the second-largest producer of cocoa and gold in Africa, has witnessed rising inflation since the beginning of this year. In December, the country secured an interim agreement from the International Monetary Fund on its bailout request to support economic reforms and ease the multiple economic challenges. ■