A release by the Ghana Statistical Service (GSS) has shown that the country’s industrial sector has, for the third consecutive time this year, outperformed the agriculture and services sectors, growing at 16.6 percent.
The data, which is the performance of the economy for the third quarter of 2017, shows that the agriculture and services sectors grew by 10 and 5.7 percent respectively.
To put the figures in a more appreciable perspective, the industry sector grew by 3.5 percent whereas, the agriculture and services grew by 2.8 and 4.5 percent.
In terms of contribution to the economy, however, the services sector maintained its position as the largest contributor with 53.4 percent; agriculture 23 percent, and industry 23.6 percent.
Analysis of industry’s performance indicates that, on year-on-year basis, the mining and quarrying subsector recorded the highest growth rate, followed by the water and sewerage subsector with 21.5 percent.
It was followed by the electricity subsector with 15.3 percent, with manufacturing also recording 5.2 percent. The construction subsector trailed with 2.6 percent.
When considered on quarterly basis, mining and quarrying grew by 9.8 percent; water and sewerage at 5.2 percent; electricity 3.3 percent; manufacturing at 1.3 percent, and construction 0.6 percent.
This means that the construction subsector has not seen much growth compared to the other subsectors in the industry sector.
However, it also means that the subsector has enormous potential to grow as many real estate companies are streaming into the country.
One such company is Green Views which has put up an ultramodern luxurious apartment located at Airport Residential Area in Accra.
The apartment is made of eight one bedroom, eight two bedrooms, eight three bedrooms, and four duplexes (four bedrooms), all with spacious balconies and other facilities that make life comfortable.
The project, which will be ready for habitation by mid-2018, is also furnished with a pool, garden, gym, and a roof terrace to offer a range of recreational activities for residents.