Ghana’s economic activity expanded by 5.1% in August, driven mainly by strong performances in agriculture and services, acting Government Statistician Dr Alhassan Iddrisu said on Thursday as he presented the latest Monthly Indicator of Economic Growth (MIEG). The index rose to 108.0 in August 2025, up from 102.7 a year earlier. “This means that economic activities expanded by 5.1% in August 2025 relative to August 2024,”
Dr Iddrisu told reporters. Agriculture recorded the strongest sectoral rebound, expanding 7.4%, while services surged 9.6%. Industry, however, contracted by 1.8%, dragged down by falling crude oil output. “Several activities actually boosted the overall growth that we are seeing,” he said. “These include good performances in crops, fishing, electricity generation, ICT, trade, transport, storage and education.”
But he cautioned that weak petroleum output, softer manufacturing activity and declines in accommodation, food services, and health and social care had weighed on the numbers. “The industry slowdown, largely driven by crude oil contraction, has been consistent throughout 2025,” he added. Industry growth averaged 1.8% for the first eight months of 2025, sharply lower than the 10.6% recorded in the same period last year. “We saw some significant reduction in the volume of crude oil production that is largely the main reason when it comes to industry,” Dr Iddrisu said.
He noted that the broader economic trend remained positive. The indicator rose from 98.0 in August 2023 to 103.0 in August 2024, before climbing again to 108.0 this year. “This means economic activity is about 10.2% higher than in the reference year of 2023,” he said. Because seasonally adjusted figures are not yet available, the statistical service continues to assess the data by comparing each month with the same month of the previous year. Dr Iddrisu said seasonal peaks seen in October, November and December linked to crop cycles and increased service use would become clearer as more data are compiled.
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