Ghana’s economy grew by 6.3 per cent year-on-year in the second quarter of 2025, up from 5.7 per cent in the same period last year, according to new provisional data released by the Ghana Statistical Service (GSS).
The expansion was fuelled largely by the services sector, which surged by 9.9 per cent on the back of strong performance in information and communication, education, manufacturing, and financial and insurance activities. Services maintained the largest share of the economy at 41.9 per cent of GDP at basic prices.
Non-oil GDP climbed even faster, recording growth of 7.8 per cent compared with 5.7 per cent in Q2 2024, signalling resilience in agriculture and other non-oil sectors that helped to offset continued contraction in oil production.
Agriculture grew by 5.2 per cent, led by the livestock sub-sector, while industry registered modest growth of 2.3 per cent. Mining and quarrying, including oil and gas, however, contracted by 1.8 per cent, with oil and gas alone shrinking by 22.5 per cent.
On the demand side, growth was driven by household consumption, which rose by 12.2 per cent, gross capital formation at 17.1 per cent, and a remarkable 691.6 per cent increase in net exports. These gains were partly offset by a decline in government final consumption expenditure, which fell by 0.2 per cent.
Government Statistician, Professor Samuel Kobina Annim, who announced the figures, said the performance reflects a strengthening recovery following Ghana’s recent economic challenges.
“This growth trajectory points to a gradual stabilisation of the economy, underpinned by strong services and resilient agriculture,” he noted.
The quarterly report also showed that, seasonally adjusted, GDP rose by 1.4 per cent compared with the first quarter of 2025, slightly below the 1.6 per cent growth recorded in Q1.
Meanwhile, inflation eased to 11.5 per cent in August, the lowest level since October 2021, beating the Finance Ministry’s end-year target of 11.9 per cent. Analysts say the stronger-than-expected GDP growth and falling inflation could boost investor confidence as the government continues to implement IMF-supported reforms aimed at consolidating stability and driving long-term recovery.
The GSS will release the next set of GDP figures in December 2025.
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