The economy of Ghana advanced by 4.8% year-on-year in the second quarter of 2022, accelerating from a 3.3% rise in the previous three-month period.

The industrial sector expanded by 4.4%, reversing a 0.5% drop in Q1, as output picked up for manufacturing (8.8% vs 2.1% in Q1). Positive contributions also came from mining & quarrying (4.4%) and construction (0.4%).

Agricultural activity increased by 4.6%, following a 5.1% rise in the previous period, boosted by fishing (7.8%) and crops and cocoa (4.5%).

At the same time, the services sector grew by a solid 5.2%, after a 5.6% expansion in the previous period, mainly driven by education (13.2%), health & social work (12.7%) and information & communication (12.4%).

On a seasonally adjusted quarterly basis, the GDP grew by 1.1%, after a 0.9% increase in the previous

Credit: tradingeconomics