GDP
The Real Gross Domestic Product for the second quarter of 2017 grew by 9 percent on a year-on-year basis, compared to a 1.1 percent growth for the second quarter in 2016.
Thus the GDP (including oil) estimate, at current prices at purchaser’s value for the second quarter of 2017, stands at GH¢45,358.5 million compared to GH¢38,061.5 million in the second quarter of 2016.
According to the Ghana Statistical Service (GSS), the figures, excluding oil, recorded GH¢43,364.1 million as at the end of the second quarter in 2017 as against GH¢37,641.6 million in the second quarter of 2016.
The GDP is divided into three main sub sectors, the agriculture sub-sector, the industry sub-sector and the services sub-sector.
The agricultural sector recorded GH¢4,904.8 million, representing 11.5 percent of the GDP while the industry sub-sector recorded GH¢11,357.9, representing 26.5 percent, with  the services sub-sector recording GH¢26,513.8, representing 62 percent.
The agricultural sub-sector saw a year-on-year sector growth rate of 3.4 percent, with the crops and cocoa sub-sector recording the highest growth rate of 8.3 percent.
The fishing sector however recorded a decline with a -17.6 percent reduction rate.
The livestock sector also grew by 5.6 percent and the forestry and logging sector also grew by 0.9 percent.
The industry sub-sector saw the highest year-on-year growth rate of 19.3 percent.
This included a massive growth rate of mining and quarrying (75 percent).
There was a significant rise in the oil and gas sector, which recorded an increase of more than 180 percent.
Other sectors under the industry sub-sector included water and sewerage recording a 13.3 percent increase, electricity also recording an 8.4 percent increase, manufacturing 6.6 percent increase and finally construction recording a 0.8 percent increase.
The services sub-sector in a year-on-year basis also increased by 5.6 percent, with the health and social work department recording the highest increase of 18.3 percent.
The lowest increase came in the hotel and restaurants sector, which recorded a minimal increase of 1 percent.
Other high scoring sectors included the information and communication sector increasing by 15.6 percent, education increasing by 9.6 percent and the real estate, professional, administrative & Support sector also increasing by 7.6 percent.
In comparison with the first quarter, the overall GDP increased by 2 percent.
The agricultural sub-sector increased by 0.5 percent, with the livestock sector recording the highest quarterly change of 1.1 percent.
The fishing sector again recorded the lowest with a -4.4 percent growth.
Industry on a quarter to quarter comparison also increased by 4.4 percent.
Mining and quarrying recorded the highest increase of 12.1 percent, with construction recording the lowest of 0.2 percent.
Services also recorded a quarter on quarter change of 1.4 percent.
The health and social work sector recorded the highest change of 4.5 percent, with hotel and restaurants recording the lowest of 0.2 percent.
By Melvin Tarlue & Akpene Darko – Cobbina