Ghana’s Economy Expands 5.3% in Q1 2025, Buoyed by Services and Agriculture
Ghana’s economy posted a year-on-year growth of 5.3% in the first quarter of 2025, outpacing the 4.9% expansion recorded in the same period last year, according to provisional data released by the Ghana Statistical Service (GSS).
Excluding oil, non-oil GDP growth reached 6.8%, underscoring the resilience of the broader economy despite subdued performance in the extractives sector.
Growth was led by a strong showing in the Services sector, particularly in Information and Communication Technology (ICT), and a recovery in Agriculture, which had previously been weighed down by adverse weather and supply chain disruptions.
The Industrial sector, however, registered a muted expansion of 3.4%, dragged down by declining output in oil and gas—a segment that has traditionally been a key driver of Ghana’s GDP growth.
“All sectors recorded positive growth with the exception of the oil and gas component of Industry, which saw a contraction. The ICT sub-sector was the standout performer in Services, followed closely by Finance and Insurance, ” said the Government Statistician, Dr. Alhassan Iddrisu, at a press briefing in Accra.
Among the top five fastest-growing sub-sectors in Q1 2025 were Fishing, ICT, Finance and Insurance, Transport and Storage, and Health and Social Work, highlighting the continued shift in Ghana’s growth profile towards services.
The latest data points to a gradual but steady recovery, as the country seeks to consolidate macroeconomic gains under its ongoing IMF-backed reform programme.
