Ghana’s Economy Expands 6.3% in Q2 2025 as Services Sector Leads Recovery

Ghana’s economy recorded robust growth in the second quarter of 2025, expanding by 6.3% year-on-year, up from a revised 5.7% in the same period last year, according to the latest data from the Ghana Statistical Service (GSS).

The performance was driven largely by the services sector, which surged 9.9%, a dramatic improvement from just 2% growth a year ago. The sector’s strong showing was powered by finance, insurance, trade, and education — all of which rebounded sharply as business activity and consumer spending strengthened.

Non-oil GDP rose 7.8%, underscoring broad-based growth even as crude oil production saw a contraction. Agriculture and industry also posted steady gains, helping sustain momentum.

Government Statistician Prof. Alhassan Iddrisu described the numbers as a sign of Ghana’s ongoing recovery from its most severe economic downturn in decades.

“These figures reflect not just growth, but a strengthening recovery and renewed confidence in the Ghanaian economy,” he said at a press briefing.

The report also brought positive news on prices, with inflation falling to 11.5% in August 2025 — the lowest level since October 2021 and below the Finance Ministry’s year-end target of 11.9%.

Analysts believe the stronger-than-expected growth will boost investor sentiment as the government continues to implement IMF-backed fiscal and structural reforms to ensure stability and long-term resilience.