Ghana's net exports of goods and services for reduced by a whooping 42.3% in 2014, compared with an expansion in of21.3% in 2013.
This is according to the Ghana Statistical Services analysis of the Country's economic performance for 2014 and further projections for 2015.
The contraction in net export is explained by contraction in both imports and exports by 16.0 and 5.8 percent respectively.
On Ghana's Gross Domestic Product measured by theExpenditure Approach(GDP-E), the Ghanaian economy grew by 4.0 percent compared by 7.3 per cent in 2013. This is consistent with the the growth of 4 per cent for GDP measured by production Approach released in June 2015.
The GDP measured by the Expenditure Approach GDP-E is the sum of final expenditures on consumption, investments and net exports in the country. The GDP-E is published in normal/current market prices and at constant prices with 2006 as the base year.
The main contributors to the growth
1. Consumption Expenditure grew by 5.3 % in 2014 compared to 7.4% in 2013. The growth in consumption is explained by growth in households' final consumption expenditure of 5.45% and growth in final government Consumption Expenditure by 4.5 percent.
2. Investment Expenditure grew by 3.3% in 2014 compared to a growth of 7.3% in 2013. The Expansion in total investment is explained by expansion in Gross Capital Formation by 2.8 % and an expansion in Changes in Stocks of 13.7 per cent.
Notes:
I. 2010, 2011, 2012 AND 2013 estimates have been revised.
II. The GDP by Expenditure Approach is currently published annually.
