Production of Goods and Services Slows to 4.2% in November 2025
By Praisebell Rosemond Larbi
Provisional data released by the Ghana Statistical Service (GSS) indicate that Ghana’s economic growth slowed to 4.2 percent in November 2025, compared to 7.1 percent recorded in the same period in 2024.
The figures, contained in the latest Monthly Indicator of Economic Growth (MIEG), point to a moderation in the pace of expansion across key sectors of the economy, particularly Industry and Services.
Agriculture Shows Modest Improvement
The Agriculture sector recorded a growth rate of 4.1 percent in November 2025, slightly higher than the 3.8 percent growth registered in November 2024.
Government Statistician, Dr. Alhassan Iddrisu, attributed the sector’s improved performance primarily to fisheries and crop production.
The data suggest that agriculture demonstrated resilience during the period, maintaining steady expansion despite broader economic headwinds. The sector accounted for 32.4 percent of the overall 4.2 percent growth, reinforcing its continued importance to national output.
Industry Slows Sharply
Growth in the Industry sector slowed significantly, recording 0.4 percent in November 2025, compared to 6.2 percent in the same period last year.
According to Dr. Iddrisu, the slowdown reflects weakening activity in mining and quarrying, particularly within the oil and gas subsector.
“This is an indication of a slowdown in mining and quarrying activities, especially the oil and gas sectors, largely on the back of a contraction in the upstream petroleum sector,” he explained.
Industry contributed 2.5 percent to the overall 4.2 percent growth in the MIEG, highlighting the sharp deceleration compared to its performance a year earlier.
Services Remain Largest Contributor
The Services sector remained the largest contributor to aggregate production of goods and services, expanding by 6.7 percent in November 2025. However, this was significantly lower than the 10.2 percent growth recorded in November 2024.
Despite the slowdown, Services accounted for 57.7 percent of the total 4.2 percent growth, maintaining its dominant role in driving economic activity.
The GSS noted that while the sector continued to expand, the pace of growth moderated considerably compared to the previous year.
Overall Outlook
The latest MIEG figures suggest that Ghana’s economy continues to grow, but at a slower pace than in 2024. The sharp slowdown in Industry, particularly in upstream petroleum, appears to be the primary drag on overall performance, even as Agriculture shows modest gains and Services maintain positive expansion.
Analysts say the data highlight the need for renewed momentum in industrial production and energy output to sustain stronger GDP growth in the coming months.
