Provisional data released by the Ghana Statistical Service (GSS) shows a real GDP growth of 9.0% year-on-year in Q2 2017, compared with a growth of 1.1% in Q2, 2016. The growth in Q2 2017 was largely driven by increased oil production.

According to the GSS, the non-oil provisional real GDP grew by 4.0% year-on-year in Q2 2017, compared with a growth of 5.5% in Q2 2016.

The Industry sector recorded the highest growth of 19.3%; the Services sector followed with 5.6% and Agriculture with 3.4%.

The Oil GDP estimate at current prices at purchaser’s value for the quarter was GH¢45,358.5 million compared with GH¢38,061.5 million in Q2 2016. The Non-oil GDP estimate at current prices at purchaser’s value was GH¢43,364.1 million compared to GH¢37,641.6 million in the 2nd quarter of 2016.

The Oil GDP estimate at constant 2006 prices for the quarter was GH¢8,835.9 million compared to GH¢8,105.5 million in the 2nd quarter of 2016. The Non-oil GDP estimate at constant 2006 prices for the quarter was GH¢8,200.6 million compared to GH¢7,884.9 million in the 2nd quarter of 2016.

Agriculture’s share of GDP declined from 12.0% in Q2 2016 to 11.5% in Q2 2017. Services contributed 62.0% to GDP in Q2 2017, compared with 61.8% in Q2 2016. Industry also contributed 26.5% to GDP in Q2 2017 compared with 26.2% in Q2 2016.