Year on Gross Domestic Product (GDP) for the 3rd quarter of 2014 grew by 5.1%.
The GDP measures an aggregation of the value goods and services created over a period.
Services sector continued to be the biggest contributor contributing about 48%.
This was followed by Industry contributing about 28% while agric contributed the least which is about 25%.
The main drivers of the growth were the financial and insurance sector which grew by 36%, ICT by 16.9%, fishing by 15.5%, public administration by 15.1% and mining and quarrying which grew by 14.2%.
However, a number of sectors recorded decline in growth.
[contextly_sidebar id=”r6fJEJyF0qvyG1xIR8bY0MMjcY99P7rf”]They include transport and storage which declined by 12.2%, hotel and restaurants by 7.5% and business activities by 1.5%.
GDP was estimated at 31.5billion cedis compared to about 26billion recorded in the 2nd quarter of 2014.
Non-Oil GDP however was about 29.7 billion compared to about 24 billion cedis recorded in the second quarter of 2014 .
On the other hand, the newly revised growth rate for 2014 is 4.2 percent, down from 6.9%.
By: Anim Kwaku Boadu/citifmonline.com/Ghana