Contribution of service sector to GDP.

Contribution of service sector to GDP.

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The Ghanaian economy has been growing for the past three decades, but growth, redistribution, and sustainability have all faced obstacles. The economy has been largely grown in three major sectors of the economy i.e., Agri�culture, Service and Industry after 64 years of independence. This article is acomprehensive discussion of the contribution of...

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... growth was from 32.5% to 50%. This growth was reduced slightly by about 10% but remained steady from 2008 to 2014 and then there a decrease from 2014 to 2019 (Table 3). ...

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Ghana returned to democratic rule in 1993 after over a decade of military rule by the Provisional National Defence Council. Before that, the country went through a near economic meltdown resulting in a number of reforms including the Economic Recovery Program (ERP) in 1983 under the guidance of the World Bank and the International Monetary Fund. Since 1993 Ghana’s economic development strategy has evolved around macroeconomic stabilization and structural reforms leveraging on her democratic environment with the view to grow and transform her economy. Notwithstanding many challenges within the period, significant gains were made in terms of economic growth. However, Ghana’s economy remains largely undiversified with little change in its economic structure over the past three decades. Going forward, the exploits of countries like China should serve as a useful model for re-thinking the developmental path for Ghana.