Ghana GDP Grows Faster in Q4

The economy of Ghana advanced by 5.8% year-on-year in Q4 2025, following a 5.5% rise in the previous period. Services (8.6%) remained the main engine of economic growth, accounting for more than 50% of GDP expansion. Key contributors included information and communication, transport and storage, education, and financial and insurance services. At the same time, agricultural activity showed stronger performance, advancing 5.3%, on higher crop production. Meanwhile, the industrial sector rose by only 1.9%, with gains in manufacturing and electricity being outweighed by a significant decline in oil and gas production. Considering the full year of 2025, the GDP grew by 6%, marking the fastest expansion since 2019, after an upwardly revised 5.8% rise in 2024.

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.

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.