Ghana’s Economy Expands by 5.1% in August 2025 – GSS
By Praisebell Rosemond Larbi
Ghana’s economy recorded a growth rate of 5.1 percent in August 2025, according to provisional figures from the Ghana Statistical Service’s Monthly Indicator of Economic Growth (MIEG). The latest data points to a modest improvement over the 4.9 percent growth posted in August 2024, signalling continued resilience in key sectors despite lingering pressures in industry.
The GSS attributes the August performance primarily to a strong rebound in the Services sector, which expanded by an impressive 9.5 percent, more than triple the 2.6 percent growth rate recorded in the same month last year. Services alone accounted for about 80 percent of the overall 5.1 percent GDP growth for the period.
Officials noted that Information and Communications Technology (ICT) and Education remained the standout drivers within the Services sector, maintaining the growth momentum observed over the past year. The GSS emphasised that the performance of these subsectors continues to reflect digital transformation efforts, increased adoption of technology across businesses, and improved educational activity following sustained recovery from earlier disruptions.
The Agricultural sector also posted strong results, expanding 7.4 percent in August 2025 compared with a subdued 2.3 percent in August 2024. This marks one of the sector’s most robust monthly performances in recent years, contributing approximately 27.3 percent to the month’s total economic growth. Analysts attribute the rebound to improved food crop production, favourable weather patterns, and ongoing government support schemes in livestock and fisheries.
However, the overall picture was moderated by a contraction in the Industrial sector. Industry shrank by 1.8 percent in August 2025, a sharp contrast to the 9.1 percent expansion recorded in the same month last year. According to the GSS, the sector’s performance negatively affected the national growth rate by 12.2 percent, underscoring persistent challenges in manufacturing, construction, and extractive activities.
The Statistical Service also revised its MIEG estimate for July 2025. The previously announced 4.5 percent growth has been adjusted downward to 3.7 percent following updates from data-producing agencies. The Government Statistician, Dr. Alhassan Iddrisu, explained that such revisions are normal and reflect improved accuracy as more complete data becomes available.
Dr. Iddrisu urged the public and analysts to interpret the August figures cautiously, noting that they remain provisional. “We should be guided as to how we interpret this data because it is based on provisional data,” he said. He added that the GSS is working towards releasing the third-quarter GDP estimates in December 2025, which will provide a fuller picture of the economy’s performance.
The MIEG is a monthly composite indicator designed to track high-frequency economic activity and provide early signals of the direction of national output. As such, August’s data offers early insight into the likely trajectory of the broader economy heading into the final quarter of the year.
