September 28, 2018 / 12:13 PM / 3 months ago

UPDATE 1-Data overhaul shows Ghana's economy 24.6 pct bigger in 2017

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ACCRA, Sept 28 (Reuters) - Ghana’s economy was 24.6 pct bigger last year than estimated prior to an overhaul of how data is calculated, the statistics office said on Friday.

The recalculation means that gross domestic product last year grew by 8.1 percent, not 8.5 percent as previously estimated, it said.

Ghana, a major commodity exporter, recalculated its GDP based on measurements from 2013 instead of 2006 to more accurately reflect recent activity in its petroleum, communication technology and construction sectors, acting government statistician Baah Wadieh told reporters.

Per capita rose to 8,863 cedis ($2,035) in 2017, compared to 4,679 cedis at the last rebasing in 2013, Wadieh said.

The rebasing means that current GDP value including oil is estimated at 256.67 billion cedis ($58.9 billion), up from 123.65 billion cedis, Wadied added.

Reporting by Kwasi Kpodo Editing by Gareth Jones, Richard Balmforth

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