Ghana’s economy expanded by 6.3 per cent year-on-year in the second quarter of 2025, up from 5.7 per cent in the same period last year, provisional data from the Ghana Statistical Service (GSS) has revealed.

The growth was driven largely by the services sector, which surged by 9.9 per cent on the back of strong performances in information and communication, education, manufacturing, and financial and insurance activities. Services maintained their dominance as the largest contributor to the economy, accounting for 41.9 per cent of GDP at basic prices.

Non-oil GDP recorded even stronger growth of 7.8 per cent, compared with 5.7 per cent in Q2 2024, underscoring the resilience of agriculture and other non-oil industries that helped offset persistent declines in oil production.

Agriculture expanded by 5.2 per cent, led by livestock, while industry posted modest growth of 2.3 per cent. Mining and quarrying, including oil and gas, contracted by 1.8 per cent, with oil and gas alone shrinking sharply by 22.5 per cent.

On the demand side, growth was propelled by household consumption, which rose by 12.2 per cent, gross capital formation at 17.1 per cent, and an exceptional 691.6 per cent surge in net exports. These gains were partially offset by a 0.2 per cent dip in government final consumption expenditure.

Announcing the figures, Government Statistician Professor Samuel Kobina Annim said the results signal a strengthening recovery from Ghana’s recent economic challenges.

“This growth trajectory points to a gradual stabilisation of the economy, underpinned by strong services and resilient agriculture,” he stated.

Quarter-on-quarter, seasonally adjusted GDP grew by 1.4 per cent, slightly below the 1.6 per cent growth recorded in Q1 2025.

Meanwhile, inflation fell to 11.5 per cent in August—the lowest level since October 2021—beating the Finance Ministry’s end-year target of 11.9 per cent. Analysts suggest that the combination of stronger-than-expected GDP growth and easing inflation could bolster investor confidence as the government pushes ahead with IMF-supported reforms aimed at restoring stability and laying the foundation for long-term recovery.

The next set of GDP data is scheduled for release in December 2025.

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