Ghana’s Economy Grows 5.5% in Q3 2025 — GSS
By Praisebell Rosemond Larbi
Ghana’s economy expanded by 5.5 percent in the third quarter of 2025, new provisional figures from the Ghana Statistical Service (GSS) have confirmed, reflecting continued resilience in key sectors despite persistent global and domestic economic pressures. The latest data shows that Ghana’s post-pandemic recovery remains broadly on track, supported largely by strong performances in agriculture and services, even as challenges linger in parts of the extractive industry.
According to the GSS, the non-oil economy grew by 6.8 percent, underscoring the dynamism of sectors outside petroleum production. Although marginally lower than last year’s outturn, the figure indicates a sustained improvement in underlying economic activity and highlights the growing importance of non-oil value creation in Ghana’s GDP structure.
The agriculture sector delivered one of the most impressive performances of the quarter, expanding by 8.6 percent, a remarkable turnaround from the 2.5 percent recorded in the same period of 2024. The crops sub-sector remained the main driver, buoyed by improved farm yields, favourable weather conditions, and enhanced productivity among small- and medium-scale farmers. Analysts say the robust agricultural output reinforces the sector’s critical role in stabilising food supplies and supporting rural livelihoods.
Industry also showed signs of revival after a difficult year. The sector recorded a modest but significant 0.8 percent growth following a contraction in 2024. Manufacturing, agro-processing, and construction contributed to the recovery, but overall industrial performance was dampened by the continued decline in oil and gas. The petroleum sub-sector contracted sharply by 14.1 percent, extending the slump observed in previous quarters due to reduced production volumes and operational constraints.
The services sector maintained its position as the backbone of the Ghanaian economy, expanding by 7.6 percent and contributing roughly 40 percent of total GDP. Strong growth in ICT, trade, transport, storage, and education bolstered the sector. The GSS report highlighted that ICT, crops, trade, transport, storage, manufacturing, and education collectively accounted for nearly 86 percent of Ghana’s total GDP growth for the quarter, demonstrating their central role in the nation’s economic trajectory.
Seasonally adjusted figures further showed improvements in short-term economic momentum, with real GDP rising by 1.3 percent quarter-on-quarter, up from the 1.0 percent recorded during the same period last year.
Several sub-sectors recorded noteworthy expansions. Fishing grew by an impressive 23.1 percent, representing the highest growth across all measured activities. ICT continued its robust upward trend with a 17 percent increase, fuelled by rising digital adoption and investments in telecommunications. Positive growth was also observed in health and social services, transportation and storage, and crop production.
Despite these gains, the economy still faces headwinds. Contractions were recorded in oil and gas, mining and quarrying, accommodation and food services, and selected personal service activities. These declines highlight ongoing vulnerabilities in the extractive and hospitality industries, which continue to grapple with lower output, cost pressures, and muted demand conditions.
The GSS noted that the third quarter performance underscores the growing significance of non-oil sectors in sustaining Ghana’s economic expansion, particularly agriculture and services. As the country moves into the final quarter of 2025, policymakers will be monitoring whether the momentum can be maintained and translated into a stronger foundation for 2026.
