Government Statistician, Alhassan Iddrisu, has disclosed that Ghana’s economy expanded by 5.3 per cent year-on-year between January and March 2025, a rise from a revised 4.9 per cent during the same period in 2024.
During a press briefing in Accra Wednesday, June 11, 2025, Iddrisu said, “This momentum reflects more than just numbers. It signals recovery and the confidence of an economy finding its rhythm in a very complex global environment.”
He revealed that the service sector, which remainsthe backbone of Ghana’s economy, contributed immensely to the robust performance, as well as the agriculture sector which saw a rebound during the period.
The Service sector, he noted, accounted for 46.8 per cent of Gross Domestic Product (GDP) and expanded by 5.9 per cent year-on-year. The Information and Communication sub-sector posted the strongest growth at 13.1 per cent within the segment, followed by Financial and Insurance Activities at 9.3 per cent, with Transport and Storage recording 8.6 per cent.
Contributing 23.5 per cent to GDP, the Agriculture sector grew by 6.6 per cent, outpacing the Industry sector. Fishing emerged as the best-performing agricultural sub-sector with a 16.4 per cent growth rate. Crops, which dominate the agriculture portfolio, rose by 6.7 per cent. Ghana’s flagship cash crop and export, Cocoa, recorded a 3.4 per cent year-on-year increase, while livestock rose by 5.6 per cent.
With a modest expansion of 3.4 per cent, the industrial sector made up 29.7 per cent of GDP. Manufacturing led the industrial gains with 6.6 per cent growth, while mining and quarrying inched up by 1.4 per cent.
The Oil and Gas segment however, saw a significant contraction of 22.1 per cent, dragged down by lower crude production, while Water supply and sewerage activities also declined, shrinking by 3.7 per cent.
When stripped of oil and gas, non-oil GDP growth was a more impressive 6.8 per cent for the quarter, reflecting resilience in the broader economy.
On a quarter-on-quarter basis, the seasonally adjusted GDP grew by 1.4 per cent, an improvement on the 0.9 per cent recorded in the final quarter of 2024. This was led by agriculture’s 1.7 per cent and services’ 1.5 per cent growth, while industry posted a 0.9 per cent gain.
Yet, not all sectors shared in the optimism. Public Administration and Defence, Education, and Forestry and Logging all registered contractions. The public sector in particular posted a 4.2 per cent year-on-year decline and a 0.9 per cent drop compared to the previous quarter.
From the demand side, the economic rebound was underpinned by increased consumption. Government final consumption expenditure surged by 8.2 per cent, while household consumption rose by 4.0 per cent. Investment, measured through gross capital formation, increased modestly by 1.1 per cent. However, net exports fell sharply, reflecting Ghana’s persistent trade imbalances.
