Ghana's net exports take 42% dip- Statistical Service

On Ghana's Gross Domestic Product, measured by the Expenditure Approach, the Ghanaian economy grew by 4.0 percent compared by 7.3 per cent in 2013

Finance Minister, Seth Terkper

Ghana's net exports of goods and services for reduced by a whooping 42.3% in 2014, compared with an expansion in  of 21.3% in 2013.

This is according  to the  Ghana Statistical Services analysis of  the Country's economic performance for 2014 and further projections for 2015.

The contraction in net  export  is explained by contraction in both imports and exports by 16.0 and 5.8 percent respectively.

On Ghana's Gross Domestic Product  measured by the Expenditure Approach(GDP-E),  the Ghanaian economy grew by 4.0 percent  compared by 7.3 per cent in 2013. This is consistent with the  the growth of 4 per cent for GDP  measured by production Approach released  in June 2015.

The GDP measured by the Expenditure Approach GDP-E is the sum of final expenditures on consumption,  investments and net exports in the country.  The GDP-E is published in normal/current market prices and at constant prices  with 2006 as the base year.

The main contributors to the growth

1. Consumption Expenditure grew by  5.3% in 2014 compared to 7.4% in 2013.  The growth in  consumption is explained by growth in households' final  consumption expenditure of 5.45% and growth  in final government  Consumption Expenditure by 4.5 percent.

2. Investment Expenditure grew by 3.3% in 2014 compared to a growth of 7.3%  in 2013.  The Expansion in  total investment  is explained by expansion in Gross Capital Formation by 2.8 % and an expansion in Changes in Stocks of 13.7 per cent.

Notes:

I. 2010, 2011, 2012 AND 2013 estimates have been revised.

II. The GDP by Expenditure  Approach is currently published  annually.

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