"Ghana’s economy expands by 5.5% in Q3 2025" — GSS releases latest GDP figures

The Government Statistician, Dr. Alhassan Iddrisu, has announced that Ghana’s economy grew by 5.5% in the third quarter of 2025, according to provisional GDP figures released by the Ghana Statistical Service (GSS).

Speaking at the media briefing in Accra, Dr. Iddrisu explained that the latest numbers offer a clear snapshot of how the economy is performing, noting that the current growth rate—though slower than the 7.0% recorded in the same period last year—still reflects steady expansion.

He added that monthly economic activity indicators support the quarterly performance, with real GDP growth rates of 5.7% in July, 5.4% in August, and 5.3% in September.

Dr. Iddrisu highlighted that Ghana’s non-oil GDP grew by 6.8%, compared to 7.8% in Q3 2024.

He noted that while the performance shows slight moderation, it underscores the resilience of most economic sectors despite a slowdown in oil and gas activities.

Overall, cumulative real GDP growth for the first three quarters of 2025 stood at 6.1%, higher than the 5.7% recorded over the same period in 2024.

Agriculture recorded the strongest performance among the three major sectors, expanding by 8.6%, a significant jump from 2.5% a year earlier.

“Fishing was the standout performer, growing by 23.1% after contracting last year,” Dr. Iddrisu said. Crops also grew robustly at 8.3%, boosting food supply and supporting incomes, particularly in rural areas.

Industry recorded marginal growth of 0.8%, far below the 11.4% posted in Q3 2024.

The Government Statistician attributed the slowdown mainly to an 18.2% contraction in the oil and gas sub-sector, along with declines in mining and quarrying.

However, he noted that manufacturing grew by 3.9%, offering some relief to the sector.

The services sector maintained its leadership, accounting for 40% of Ghana’s GDP. It expanded by 7.6%, outperforming the 5.7% recorded last year.

The strongest performers included:

• Information and Communication — 17%

• Trade — 10%

• Transport and Storage — 10.4%

Dr. Iddrisu said these figures demonstrate growing digital activity and renewed momentum in commerce and mobility.

The five fastest-growing sub-sectors in Q3 2025 were:

• Fishing (23.1%)

• Information and Communication (17%)

• Transport and Storage (10.4%)

• Trade (10%)

• Crops (8.3%)

Four sub-sectors, however, contracted:

• Mining and Quarrying (-2.8%)

• Health and Social Work (-9.7%)

• Accommodation and Food Services (-7.2%)

• Other Personal Services (-3.5%)

  
  

Dr. Iddrisu identified Information and Communication, Crops, Trade, Transport and Storage, Manufacturing, and Education as the main growth drivers. Together, these accounted for approximately 86% of the total 5.5% GDP growth rate.

Dr. Iddrisu said households could benefit from easing inflation by investing in skills aligned with expanding sectors such as ICT, fishing, and trade.

He advised businesses to take advantage of opportunities in agriculture and services while urging firms in struggling sectors to adopt innovative strategies.

For government, he emphasized the need to sustain support for agriculture and digital services while developing targeted policies to address the contraction in oil, gas, and parts of industry.

Concluding his remarks, Dr. Iddrisu reaffirmed the Ghana Statistical Service’s commitment to producing timely and credible data to guide national decision-making.

He expressed appreciation to all institutions and individuals who provide data for the compilation of GDP estimates.

“Reliable statistics are essential for Ghana’s development, and we remain committed to serving all stakeholders with accuracy and integrity,” he said.

Story by: Joshua Kwabena Smith