The country’s economy grew provisionally by 5.5 per cent in the third quarter of 2025, down from the 7.0 per cent recorded in the same period of 2024, the Ghana Statistical Service (GSS) has announced.
The Non-Oil real Gross Domestic Product (GDP) growth rate stood at 6.8 per cent in the third quarter of 2025 compared to the 7.8 per cent posted in the corresponding quarter of last year.
Announcing the third quarter 2025 growth figures at a news conference in Accra yesterday, the Government Statistician, Dr Alhassan Iddrisu, said the value of real GDP for the period was estimated at GH¢50.8 billion, up from GH¢48.2 billion in the third quarter of 2024.
He said the Non-Oil real GDP was valued at GH¢48.7 billion, compared to GH¢45.6 billion in the same quarter last year.
On a nominal basis, Dr Iddrisu said third quarter 2025 GDP amounted to GH¢339.4 billion, higher than the GH¢293.1 billion recorded in 2024, and Non-Oil nominal GDP rose to GH¢331.5 billion from GH¢278.5 billion in the third quarter of 2024.
Dr Iddrisu said services continued to dominate the economy, constituting 40 per cent of GDP at basic prices in the period under review.
The sector expanded by 7.6 per cent in 2025, up from 5.7 per cent in 2024, driven largely by strong performance in Information and Communication, which grew by 17.0 per cent.
Dr Iddrisu said Non-Oil GDP remained resilient, underscoring a gradual shift towards a more diversified economy with reduced dependence on oil.
Agriculture, the Government Statistician said, also recorded strong growth of 8.6 per cent, representing an increase of 2.5 per cent posted in the third quarter of 2024.
“Fishing led agricultural growth with a 23.1 per cent expansion, compared to a contraction of 6.4 per cent last year,” Dr Iddrisu stated.
Industry, however, he said, slowed markedly, growing by 0.8 per cent compared to the robust 11.4 per cent recorded in 2024.
The Government Statistician attributed the sharp deceleration to an 18.2 per cent decline in the oil and gas sector, which dragged down overall industrial output.
He said manufacturing grew by 3.9 per cent, lower than the 7.4 per cent recorded last year but supported by improved power supply.
“The top expanding sub-sectors were Fishing (23.1 per cent), Information and Communication (17.0 per cent), Transport and Storage (10.4 per cent), Trade (10.0 per cent) and Crops (8.3 per cent), while the contraction sectors are Oil and Gas (-18.2 per cent), Mining and Quarrying (-2.8 per cent), Health and Social Work (-9.7 per cent), Accommodation and Food Services (-7.2 per cent) and Other Personal Services (-3.5 per cent),” the Government Statistician stated.
Dr Iddrisu recommended increased government support for high-performing sectors such as Agriculture and Services to sustain growth. He further urged targeted interventions to address contractions in Industry, particularly Oil and Gas and Mining, to stabilise the productive base.
On the business front, he encouraged firms to invest in expanding sub-sectors, innovate within struggling industries and explore new markets to enhance resilience.
In a related development, the GSS said the provisional Monthly Indicator of Economic Growth (MIEG) showed a 5.3 per cent expansion in September 2025, lower than the 8.1 per cent recorded in September 2024.
Agriculture grew by just 0.2 per cent, while Industry and Services grew by 6.7 per cent and 5.4 per cent respectively, with Communication, Transport and Storage, and Wholesale and Retail Trade driving the service sector’s performance.
BY KINGSLEY ASARE
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