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Ghana GDP Growth Slows to 5.5% in Q3
Ghana’s economy expanded 5.5% year-on-year in Q3 2025, following a revised 6.5% growth in Q2, marking the slowest pace of expansion since Q3 2024. Industry growth slowed sharply to 0.8% from 2.3%, while services growth eased to 7.6% from 9.6%, though it remained robust. Agricultural activity strengthened, rising to 8.6% from 7.1%, supported largely by the fishing sector. On a seasonally adjusted quarterly basis, the GDP grew by 1.3%, after a 1.4% rise in the previous quarter.
Published on 2025-12-10

Ghana GDP Growth Slows to 5.5% in Q3
Ghana’s economy expanded 5.5% year-on-year in Q3 2025, following a revised 6.5% growth in Q2, marking the slowest pace of expansion since Q3 2024. Industry growth slowed sharply to 0.8% from 2.3%, while services growth eased to 7.6% from 9.6%, though it remained robust. Agricultural activity strengthened, rising to 8.6% from 7.1%, supported largely by the fishing sector.
Published on 2025-12-10

Ghana GDP Growth Quickens to Near 1-Year High
Ghana’s economy expanded 6.3% year-on-year in Q2 2025, up from a revised 5.7% in the previous quarter, marking the fastest pace since Q3 2024. Growth was led by the services sector, which surged 9.9%, contributing to a 7.8% rise in non-oil GDP, which also includes manufacturing and mining. Agriculture also expanded, while oil output contracted.
Published on 2025-09-10

Ghana GDP Growth Quickens to Near 1-Year High
Ghana’s economy expanded 6.3% year-on-year in Q2 2025, up from a revised 5.7% in the previous quarter, marking the fastest pace since Q3 2024. Growth was led by the services sector, which surged 9.9%, boosted by a 21.3% jump in ICT activity driven by higher data usage. This contributed to a 7.8% rise in non-oil GDP, which also includes manufacturing and mining. Agriculture also expanded, while oil output contracted.
Published on 2025-09-10

Ghana GDP Growth Quickens to Near 1-Year High
Ghana’s economy grew 6.3% year-on-year in Q2 2025, accelerating from a revised 5.7% in Q1 to its fastest pace since Q3 2024. Services led the expansion with a 9.9% increase, supported by a 21.3% surge in ICT on the back of rising data use. Growth in industry eased to 2.3% from the revised 4.1% in Q1, weighed down by declining oil and gas output, while agriculture slowed to 5.2% from 6.6% in the prior period.
Published on 2025-09-10

Ghana GDP Growth Quickens to Near 1-Year High
Ghana’s economy grew 6.3% year-on-year in Q2 2025, accelerating from a revised 5.7% in Q1 to its fastest pace since Q3 2024. Services led the expansion with a 9.9% increase, supported by a 21.3% surge in ICT on the back of rising data use. Growth in industry eased to 2.3% from the revised 4.1% in Q1, weighed down by declining oil and gas output, while agriculture slowed to 5.2% from 6.6% in the prior period. On a seasonally adjusted quarterly basis, the Ghanaian GDP rose by 1.4%, after a revised 1.6% advance in the preceding quarter.
Published on 2025-09-10

Ghana GDP Growth at Near 1-Year High
Ghana’s economy grew 6.3% year-on-year in Q2 2025, matching the revised Q1 pace, which was the fastest since Q3 2024. Services led the expansion with a 9.9% increase, supported by a 21.3% surge in ICT on the back of rising data use. Growth in industry eased to 2.3% from the revised 4.1% in Q1, weighed down by declining oil and gas output, while agriculture slowed to 5.2% from 6.6% in the prior period. On a seasonally adjusted quarterly basis, the Ghanaian GDP rose by 1.4%, after a revised 1.6% advance in the preceding quarter.
Published on 2025-09-10

Ghana GDP Growth at Near 1-Year High
Ghana’s economy grew 6.3% year-on-year in Q2 2025, matching the revised Q1 pace, which was the fastest since Q3 2024. Services led the expansion with a 9.9% increase, supported by a 21.3% surge in ICT on the back of rising data use. Other notable contributors included education, which grew 16.6%, health and social work at 14.6%, other personal services at 11.3%, and finance and insurance at 9.7%. Agriculture grew by 5.2%, led by the livestock sub-sector, while industry recorded modest growth of 2.3%. Mining and quarrying, including oil and gas, however, contracted by 1.8%, with oil and gas alone shrinking by 22.5%. Demand-side growth was supported by household consumption (+12.2%), gross capital formation (+17.1%), and net exports (+691.6%), while government consumption fell 0.2%. On a seasonally adjusted quarterly basis, the Ghanaian GDP rose by 1.4%, after a revised 1.6% advance in the preceding quarter.
Published on 2025-09-10

Ghana’s Economy Gains Traction in Q1
The economy of Ghana expanded by 5.3% year-on-year in Q1 2025, accelerating from 3.6% in the previous three-month period. Industrial sector growth picked up to 3.4%, from just 0.2% in the previous period, with the rise largely attributed to a strong 5.6% increase in gold production. The agricultural sector, which employs about 40% of the workforce, also saw accelerated growth of 6.6% in Q1, up from 2.9% in Q4 2024, led by a rebound in cocoa output following six consecutive quarters of decline. The services sector maintained positive momentum as well, growing 5.9%, slightly down from the 6.3% increase recorded in the prior period.
Published on 2025-06-11

Ghana GDP Growth Accelerates in Q1
The economy of Ghana expanded by 5.3% year-on-year in Q1 2025, accelerating from 3.6% in the previous three-month period. Industrial sector growth picked up to 3.4%, from just 0.2% in the previous period, with the rise largely attributed to a strong 5.6% increase in gold production. Growth in agriculture, which employs around 40% of the country's workforce, accelerated to 6.6% in Q1 2025 from 2.9% in Q4 2024, driven mainly by a rebound in cocoa output after six consecutive quarters of decline. The services sector also contributed positively, rising 5.9% after a 6.3% advance in the previous period.
Published on 2025-06-11

Ghana’s Economy Gains Traction in Q1
The economy of Ghana expanded by 5.3% year-on-year in Q1 2025, accelerating from 3.6% in the previous three-month period. Industrial sector growth picked up to 3.4%, from just 0.2% in the previous period, with the rise largely attributed to a strong 5.6% increase in gold production. Growth in agriculture, which employs around 40% of the country's workforce, accelerated to 6.6% in Q1 2025 from 2.9% in Q4 2024, driven mainly by a rebound in cocoa output after six consecutive quarters of decline. The services sector also contributed positively, rising 5.9% after a 6.3% advance in the previous period.
Published on 2025-06-11

Ghana’s Economy Gains Traction in Q1
The economy of Ghana expanded by 5.3% year-on-year in Q1 2025, accelerating from 3.6% in the previous three-month period. Industrial sector growth picked up to 3.4%, from just 0.2% in the previous period, with the rise largely attributed to a strong 5.6% increase in gold production. Growth in agriculture, which employs around 40% of the country's workforce, accelerated to 6.6% in Q1 from 2.9% in Q4 2024, driven mainly by a rebound in cocoa output after six consecutive quarters of decline. The services sector also contributed positively, rising 5.9% after a 6.3% advance in the previous period.
Published on 2025-06-11

Ghana GDP Growth Slows to Over 1-Year Low
Ghana's economy rose by 3.6% year-on-year in Q4 2024, the least since Q3 2023, following an upwardly revised 7.5% expansion in the previous three-month period. The industrial sector acted as a drag, posting minimal growth of just 0.2%, following a 10.4% increase in Q3. Meanwhile, the services sector advanced by 6.3% and agriculture rose by 2.9%. For the whole year of 2024, the country's GDP grew by 5.7%.
Published on 2025-03-10

Ghana GDP Growth Quickens to Over 5-Year High
Ghana's economy grew by 7.2% year-on-year in Q3 2024, the most since Q2 2019, following a 6.9% rise in the previous three-month period. Key economic activities, particularly the industrial (+10.4%) and services (+6.4%) sectors, continued to show robust growth. Meanwhile, the agricultural sector advanced by 3.2%.
Published on 2024-12-11

Ghana GDP Growth Accelerates to 5-Year High of 6.9%
Ghana recorded a 6.9% annual economic growth in Q2 2024, the highest in five years, following an upwardly revised 4.8% rise in the previous three-month period. All three key sectors saw increased output, with the services sector growing by 5.8% and continuing to be the largest contributor to the economy. The industrial sector expanded by 9.3%, driven by mining and quarrying, with the gold sector growing by 23.6% for the third consecutive quarter. Agriculture grew by 5.4%, despite the cocoa subsector contracting for the fourth straight quarter by 26.2%. On a seasonally adjusted quarterly basis, GDP rose by 1.6% in Q2, up from 1.2% in the previous quarter. The gold-, oil-, and cocoa-rich country is emerging from a lengthy debt restructuring and is currently in the second year of an International Monetary Fund program that has involved tough austerity measures.
Published on 2024-09-18

Ghana GDP Growth Quickens to Over 2-Year High
Ghana’s economy expanded by 4.7% year-on-year in the first quarter of 2024, marking its strongest growth since Q4 2021, up from 3.8% in the previous three-month period. The industrial sector rose by an annual 6.8% in the period, the most in nearly five years, after expanding 1.6% in the last quarter of 2023. However, growth in the agriculture sector moderated to 4.1% from 4.5% in the previous quarter, amid unfavorable weather conditions, while the services sector also slowed to 3.3% from 5.1%. On a seasonally adjusted quarterly basis, the GDP rose by 1.2% in Q1, after a 1% increase in the previous quarter.
Published on 2024-06-18

Ghana’s Economy Grew at the Fastest Pace in Six Quarters
Ghana’s gross domestic product grew by 3.8% year-on-year in the fourth quarter of 2023, the fastest pace since Q2 2022, following an upwardly revised 2% growth the previous quarter. The expansion was driven by a faster increase in agricultural activity (4.5% vs 4.3% in Q3 2023), namely crops and cocoa (5% vs 4.6%) and services (5.1% vs 5%) and a rebound in the industrial sector (1.6% vs -2.5%). Considering full 2023, the economy expanded 2.9%, significantly below 3.8% in 2022.
Published on 2024-03-20

Ghana's Economy Loses Steam in Q3
Ghana's gross domestic product grew by 2% year-on-year in the third quarter of 2023, following a 3.2% rise in the previous three-month period. It marked the slowest pace of growth since a 3.3% contraction observed in Q3 2020. Declines in industry sub-sectors like mining and construction contributed to the third-quarter slowdown, the statistics agency said. On the other hand, agriculture made a positive contribution to the economy, despite an unusually challenging season for cocoa farming.
Published on 2023-12-20

Ghana GDP Growth Weakest in Almost a Year
Ghana's economy advanced by 3.2% year-on-year in the second quarter of 2023, compared with a downwardly revised growth rate of 3.3% in the previous three-month period. It was the weakest growth rate since the third quarter of 2022, driven by services (+6.3%, the same pace as in Q1), especially the health, transport and information & technology sectors and agriculture (+6 % vs 6.4%). Conversely, the industrial sector recorded its third consecutive quarterly contraction, declining by 1.9%. This decline was notably driven by the construction sub-sector (-11.7%), which saw its most significant drop in five years. The Finance Ministry in July almost halved its forecast for growth this year to 1.5%, down from an earlier estimate of 2.8%, due to a broad slowdown in major sectors of the economy, as a result of factors such as the fiscal consolidation plan under an IMF agreement and difficult global conditions.
Published on 2023-09-20

Ghana's Economy Gains Further Steam in Q1
The economy of Ghana advanced by 4.2% from a year earlier in the first quarter of 2023, compared with a downwardly revised 3.2% rise in the prior three-month period. It marks the 10th consecutive quarter of economic growth and the fastest since Q4 2021, mainly driven by services (10.1% vs 7.6% in Q4), in particular the health (+31.6%) and education (+26%) sub-sectors. Agriculture expanded by 4.8%, up from 3.6%, boosted by higher cocoa output (+5.2%). Conversely, the industrial sector contracted 3.2%, after shrinking 1% in the previous quarter, amid steep declines in construction (-6%) and water supply (-6.4%). On a seasonally adjusted quarterly basis, the GDP rose 1.1%, the most in five quarters, after a 0.8% rise in the fourth quarter of 2022. Ghana has been grappling with a severe debt overhang, soaring inflation, and continuous currency depreciation, coupled with worsening living conditions for Ghanaians, prompting the government to turn to the IMF for a bailout.
Published on 2023-06-21