Answer to Question #212907 in Macroeconomics for Dieky

Question

Analysis the performance of Ghana's industrial sector and its sub-sectors in terms of the contributions towards gross domestic product (GDP) and total employment.

Answer 1

Ghana's economy is diverse and it depends on resources for manufacturing and their exploitation by use of available technology. The economy was recognized as the fastest growing sometimes back due to its mining industries. Agriculture has highly contributed to the growth of the economy through provision of food and creation of employments to the locals. Ghana is one of the gold producers overtaking south Africa leading to the higher growth. According to data, industry generated around 31.99 percent of Ghana's gross domestic product from 2009 to 2019, while the service industry generated about 44.14 percent. However, the allocation of employment in Ghana by sector of the economy from 2010 to 2020 indicates that the agriculture sector employed 28.46 percent of the workforce, while the service sector employed 49.36 % and the industrial sector employed 22.19 percent.