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Business News of Monday, 28 December 2020

Source: www.ghanaweb.com

Agric sector records positive gains despite coronavirus - GAWU calls for more attention

Edward Kareweh, General Secretary of the Ghana Agricultural Workers Union Edward Kareweh, General Secretary of the Ghana Agricultural Workers Union

The General Secretary of the Ghana Agricultural Workers Union (GAWU), Edward Kareweh has stated that the agriculture sector continues to be robust despite the existence of COVID-19.

Speaking to Graphic Business, he said the growth in agriculture is an indication that it would remain the most resilient in the near future.

According to him, the sector was able to withstand the shocks of the pandemic since it is largely insulated from external factors.

“If you look at the general agriculture production in the country, 80 percent of domestic production is in the hands of smallholder farmers, and these farmers are not largely exposed to the global economy directly. Their production is not dependent on the occurrence or non-occurrence of certain factors in the global economy.

“They have their own seed and have control over it, have control over their production needs, and depend largely on themselves to consume and market their produce. Agriculture is largely insulated from external factors,” he explained.

Data from the Ghana Statistical Service (GSS) showed that the agriculture sector has for the second consecutive quarter emerged as the only sector which recorded positive GDP growth in the country.

The sector in the third quarter of 2020 recorded a GDP growth of 8.3 per cent. This comes after it recorded a GDP growth of 2.5 per cent in the second quarter.

The industry sector on the other hand contracted by 5.7 per cent in the second quarter and contracted by 5.1 per cent in the third quarter, while the services sector also contracted by 2.6 per cent and 1.1 per cent in the second and third quarters respectively.

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