Ghana’s Economy Expanded 34% in Second Quarter on Oil Output

Ghana’s economic growth soared to 34 percent in the second quarter, boosted by oil output in Africa’s newest exporter of crude.

Growth accelerated from a revised 31 percent in the first three months of the year, Grace Bediako, head of the Ghana Statistical Service, told reporters in the capital, Accra, today. The median estimate of four economists surveyed by Bloomberg was for the economy to expand 20.3 percent. The total value of goods and services in the second quarter was valued at 7.9 billion cedis ($5 billion), according to Bediako.