Dr. Cassiel Ato Forson, Finance Minister
The size of Ghana’s economy stood at about US$76.37 billion in 2024, approximately GH¢1.17 trillion.
According to provisional data from the Ghana Statistical Service, this constituted GH¢1.098 trillion of oil Gross Domestic Product and GH¢ 77.80 billion of net indirect taxes.
The Services sector constituted the largest share of the economy with a size of GH¢515.85 billion. It was followed by Industry (GH¢ 338.8 billion) and Agriculture (GH¢243.74 billion).
Meanwhile, the Ghanaian economy grew at a rate 5.7% in 2024, higher than the revised 3.1% growth rate in 2023.
Industry recorded the highest growth rate of 7.1%.
Construction and the Mining and Quarrying sub-sectors recorded the highest growth rates of 9.6% and 9.4% respectively. The Manufacturing sub-sector expanded by 3.9%.
On the other hand, the Services sector recorded a growth rate of 5.9% year-on-year.
The Information and Communication sub-sector recorded the highest growth rate of 15.8%. It was followed by the Financial and Insurance Activities (7.6%).
Other Personal Services Activities was the only sub-sector that contracted.
The Agriculture sector recorded growth rate of 2.8%.
Livestock registered the highest growth rate of 3.5%, whilst crops recorded a grpwth rate of 3.2%.
On the other hand, cocoa contracted heavily by 22.4%
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