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Ghana’s economy recorded a 6.3% year-on-year growth in the second quarter of 2025, up from 5.7% in the same period of 2024, according to provisional figures from the Ghana Statistical Service (GSS). This growth was primarily propelled by the services sector, which rose by 9.9%, with key contributions from information and communication, education, manufacturing, and financial services. The sector continues to dominate the economy, accounting for 41.9% of GDP at basic prices.
Non-oil GDP saw an even more robust increase of 7.8%, reflecting strength in agriculture and other non-oil industries, despite a persistent decline in oil production. Agriculture grew by 5.2%, led by livestock, while the industrial sector posted modest growth of 2.3%. However, mining and quarrying—especially oil and gas—contracted, with oil and gas output shrinking sharply by 22.5%.
On the demand side, household consumption surged by 12.2%, investment (gross capital formation) grew by 17.1%, and net exports soared by an extraordinary 691.6%. These were slightly offset by a 0.2% dip in government spending.
GSS Chief Statistician Professor Samuel Kobina Annim described the figures as indicative of a stabilizing economy, with solid performances in services and agriculture. Seasonally adjusted GDP increased by 1.4% quarter-on-quarter, slightly lower than the 1.6% growth in Q1.
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Meanwhile, inflation fell to 11.5% in August—the lowest since October 2021—beating the government’s year-end target. Economists suggest that the stronger-than-expected growth and easing inflation may enhance investor confidence as Ghana progresses with IMF-backed reforms aimed at restoring economic stability. The next GDP release is expected in December 2025.
