The National Statistics Service (GSS) released data on Tuesday, June 18, 2024, according to which Ghana recorded economic growth of 4.7% year-on-year in the first quarter of 2024 in the first quarter of 2024 compared to 3.8% in the previous quarter.

Ghana recorded its highest level of economic growth on a quarterly basis since the fourth quarter of 2021. According to GSS data, the rebound in growth recorded between January 1 and March 31 of the current year is mainly explained by the acceleration of growth in the industrial sector, which had its best performance in 19 quarters, with an increase of 6.8% against 1.6% in the last quarter of 2023. However, growth in the agriculture and services sectors slowed to 4.1% and 3.3% respectively, compared to 4.5% and 5.1% in the fourth quarter of last year. The agricultural sector was affected by adverse weather conditions, while the services sector was hampered by contractions in the health, social welfare, public administration, defence and social security sub-sectors