Home | Goldstreet Business
Tuesday, March 28, 2023
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
Gold Business Logo
No Result
View All Result
Home Business AgriBusiness

Agric is only sector with positive growth – GAWU calls for more attention for sector

December 29, 2020
in AgriBusiness, Agriculture, Economy, Top Stories
0
Agric is only sector with positive growth – GAWU calls for more attention for sector
Share on FacebookShare on Twitter

The agriculture sector has for the second consecutive quarter emerged as the only sector which recorded a positive GDP growth in the country, according to data released by the Ghana Statistical Service (GSS).

The sector in the third quarter of 2020 recorded a GDP growth of 8.3 per cent. This comes after it recorded a GDP growth of 2.5 per cent in the second quarter.

RELATED POSTS

I came to resolve Africa challenges – US Vice President

Ghana records $752.8m trade surplus in first 2 months of 2023

The industry sector on the other hand contracted by 5.7 per cent in the second quarter and contracted by 5.1 per cent in the third quarter, while the services sector also contracted by 2.6 per cent and 1.1 per cent in the second and third quarters respectively.

Speaking in an interview with the Goldstreet Business, the General Secretary of the Ghana Agricultural Workers Union (GAWU), Mr Edward Kareweh, said the COVID-19 pandemic had exposed the reality on the ground that agriculture remained the country’s most resilient sector.

He said this was also an indication that agriculture would remain the most resilient in the near future.

He further pointed out that the sector was able to withstand the shocks of the pandemic because agriculture in the country was largely insulated from external factors.

“If you look at the general agriculture production in the country, 80 per cent of domestic production is in the hands of small holder farmers and these farmers are not largely exposed to the global economy directly. Their production is not dependent on the occurrence or non-occurrence of certain factors in the global economy.

“They have their own seed and have control over it, have control over their production needs and depend largely on themselves to consume and market their produce. Agriculture is largely insulated from external factors,” he stated.

Mr Kareweh noted that the resilience of the sector was an indication that the country must focus more on agriculture going forward.

“Generally, we have not given the needed attention to agriculture in the country. Efforts are being made to upscale what we have been doing over the years but it will be in-appropriate for us to conclude that we have given the sector the needed attention.

“We have always been saying that the future of this country and its developmental transformation cannot be guaranteed when if we don’t pay the needed attention and make the right investments in agriculture.

“In a very massive global pandemic like COVID-19, the resilience of the sector must remind us that we should focus more on agriculture than we are doing now. The economic transformation of the country will largely depend on agriculture and we can leverage on this sector to grow other sectors of the economy,” he pointed out.

Third quarter GDP growth

The economy contracted by 1.1 per cent in the third quarter of the year. This is after it contracted by 3.6 per cent in the second quarter.

Presenting the third quarter data, Government Statistician, Professor Samuel Kobina Annim, said the GDP (Including Oil & Gas) estimate at constant 2013 prices for the 3rd quarter of 2020 was GH¢41.05 billion compared to GH¢41.51 billion the third quarter of 2019.

He said the non-oil GDP at constant 2013 prices for the 3rd quarter of 2020 was GH¢37.79 billion compared to GH¢37.95 billion for the same period in 2019.

Largest sector

He said the services sector was the largest sector of the Ghanaian economy in the third quarter of 2020 with a share of 42 per cent of GDP at basic prices.

The GDP share of industry and agriculture were 35 per cent and 23 per cent respectively.

Agriculture sector

In the Agriculture sector, the fishing sub-sector grew by 7.7 per cent in the 3rd quarter of 2020, compared to 0.05 per cent in the 2nd quarter of 2020.

The crop subsector also grew by 2.2 per cent compared to 0.6 per cent recorded in the 2nd quarter of 2020. The Livestock sub-sector grew at a slightly lower rate of 1.1 per cent in the 3rd quarter of 2020, compared to a growth of 1.2 per cent in the 2nd quarter of 2020.

The forestry and logging subsector contracted by 1.8 per cent compared to a contraction of 2.1 per cent in the 2nd quarter of 2020.

Industry sector

Within the industry sector, the electricity sub-sector recorded a growth of 2.8 per cent in the 3rd quarter of 2020, compared to 3.5 per cent growth recorded in the 2nd quarter of 2020.

Water supply, sewerage, waste management & remediation activities sub-sector grew by 1.4 per cent in the 3rd quarter of 2020, compared to 2.4 per cent in the 2nd quarter of 2020.

Construction sub-sector grew by 1.0 per cent in 3rd quarter of 2020, compared to 0.9 per cent in the 2nd quarter of 2020.

Manufacturing recovered from a contraction of 3.6 per cent in 2nd quarter of 2020 to record a 1.1 per cent growth rate in the 3rd quarter of 2020.

The mining and quarrying sub-sector contracted by 4.5 per cent in the 3rd quarter of 2020, from -1.4 per cent recorded in the 2nd quarter of 2020.

Services sector

In the Services sector, information and communication grew by 8.2 per cent in the 3rd quarter of 2020 compared to 15.7 per cent in the 2nd quarter of 2020.

The real estate sub-sector also slowed to 3.2 per cent in the 3rd quarter of 2020 from 0.8 per cent recorded in the 2nd quarter of 2020.

 

facebookShare on Facebook
TwitterTweet
Tags: GAWU
ShareTweetShare

Related Posts

I came to resolve Africa challenges – US Vice President

I came to resolve Africa challenges – US Vice President

March 27, 2023
Ghana records $752.8m trade surplus in first 2 months of 2023

Ghana records $752.8m trade surplus in first 2 months of 2023

March 27, 2023
The Power of Community in Entrepreneurial Success and Our Call to Action

The Power of Community in Entrepreneurial Success and Our Call to Action

March 27, 2023
Restore confidence in the economy — GUTA 

Restore confidence in the economy — GUTA 

March 22, 2023
Ghana’s economic outlook to remain negative until fiscal economy improves – Fitch

Fitch upgrades Ghana’s rating to ‘CCC’

March 22, 2023
Next Post
China’s New Development Plan Offers Blueprint for the Next 15 Years

China’s New Development Plan Offers Blueprint for the Next 15 Years

Challenges on the hard copy – just bloated pseudo concerns

Challenges on the hard copy – just bloated pseudo concerns

Discussion about this post

Archives

<
March 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
▼
>
MonTueWedThuFriSatSun
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
  12345
6789101112
13141516171819
20212223242526
2728     
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
 123456
78910111213
14151617181920
21222324252627
28      
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
1234567
891011121314
15161718192021
22232425262728
       
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
     12
3456789
10111213141516
17181920212223
242526272829 
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
    123
45678910
11121314151617
18192021222324
25262728   
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       

RECOMMENDED

I came to resolve Africa challenges – US Vice President

I came to resolve Africa challenges – US Vice President

March 27, 2023
South African Rand Declines Against Rising Dollar

South African Rand Declines Against Rising Dollar

March 27, 2023

MOST VIEWED

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Energy
  • Health
  • Auto
  • International
  • Subscription Form
  • Staff Webmail
  • About Us
  • Contact Us
Call us: +233 24 432 0902 | info@goldstreetbusiness.com

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

No Result
View All Result
  • Homepages
    • Homepage Layout 1
    • Homepage Layout 2
  • World
  • Business
  • Technology
  • Health

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.