GROWTH IN GHANA’S MANUFACTURING SECTOR

Ghana’s manufacturing sector experiencing growth as Government addresses major industry challenges.

Ghana Statistical Service has just reported that the country’s manufacturing sector has recorded a 6.6% growth in quarter two(2) of 2017, this is a positive result when compared to 5.9% growth of quarter one (1).

The manufacturing sector which is considered as one of the most auspicious sector of the country took a plummet in 2012 when growth dwindled from 28.4% in quarter one(1) to an almost insignificant 1.8% in quarter two(2), it further plunged into negative values in the fourth quarter of the same year and the negative values continued for the next two(2) years and then gradually increased to positive values in 2015.

The laughable results of the manufacturing sector have been ascribed to three (3) major factors; Energy crisis, high cost of power when its available and high taxes.

According  to Mr. James Asare-Adjei, President Association of Ghana Industries (AGI); the upturn of the manufacturing sector can be attributed to “efforts by both the previous and current governments in addressing some of the major challenges that have stalled growth in the sector for some years now.”

 

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