Ghana’s economy expanded by 5.5 percent in the third quarter of 2025, boosted by strong performances in agriculture and services, provisional data from the Ghana Statistical Service (GSS) showed on Tuesday. The figures point to continued resilience despite a difficult global economic backdrop and domestic pressures on the extractive sector.
Non-oil GDP a key measure of underlying activity excluding petroleum grew by 6.8 percent, confirming steady momentum across key sectors even though the pace was slightly slower than last year. Officials said the latest numbers underline the increasing importance of non-oil drivers in sustaining Ghana’s broader economic recovery.
Agriculture recorded one of its strongest quarterly performances in years, expanding by 8.6 percent, a sharp rebound from the 2.5 percent posted in the same period of 2024. The crops sub-sector, which includes staples such as cocoa, maize, cassava and plantain, remained the biggest contributor to agricultural output and the largest single driver of GDP growth. Economists attributed the gains to improved rainfall patterns, higher productivity among small- and medium-scale farmers, and wider availability of improved seed varieties.
The industry sector returned to positive growth after contracting last year, posting a modest 0.8 percent expansion. Manufacturing and food processing activities helped lift the sector, supported by recovering domestic demand and improvements in supply chain conditions. But the overall performance was held back by a steep contraction in the oil and gas sub-sector, which shrank by 14.1 percent. Production challenges, lower output from mature fields and ongoing maintenance disruptions were cited as key factors behind the slump.
Services which account for nearly 40 percent of Ghana’s GDP remained the main engine of the economy, expanding by 7.6 percent in the quarter. Strong activity in information and communications technology (ICT), trade, transport, storage, and education-related services drove much of the sector’s expansion. The GSS said ICT, crops, trade, transport, storage, manufacturing and education together accounted for 86 percent of total GDP growth during the period.
Seasonally adjusted data also showed that economic activity strengthened on a quarterly basis, with real GDP rising 1.3 percent compared with 1.0 percent in the same period last year, reflecting improving business conditions and firming domestic demand.
Some sub-sectors posted particularly strong growth. The fishing industry recorded the biggest increase soaring 23.1 percent helped by improved marine conditions and investment in small-scale fisheries. ICT continued its rapid upward trajectory, growing 17 percent, reflecting increased digitalisation across businesses and public services. Health and social work, crop production and transport and storage services also registered solid gains.
However, the report highlighted persistent weaknesses in parts of the economy. The oil and gas sector remained a major drag, while mining and quarrying contracted amid operational delays and lower global commodity prices. Accommodation and food services also declined, mirroring continued pressure on hospitality businesses, while other personal service activities fell as households adjusted spending patterns.
The GSS said the latest data underscores the growing role of non-oil sectors particularly agriculture, ICT and services in sustaining Ghana’s economic expansion at a time when extractive revenues are under strain. It added that signs of recovery in manufacturing and food processing point to improving conditions for industry, though structural challenges remain.
Ghana’s economic reforms
As Ghana enters the final quarter of the year, policymakers will be watching closely to determine whether momentum can be maintained into 2026. Analysts say the durability of the recovery will depend on stabilising the oil sector, sustaining agricultural gains, and managing inflationary pressures, while ensuring adequate support for businesses in the services industry.
The government is due to present updated growth projections early next year as part of its medium-term economic framework for development.
