Ghana recorded significant economic expansion in 2025, with per capita income rising sharply in both local currency and U.S. dollar terms, according to data released by the Ghana Statistical Service (GSS).
Government Statistician Dr Alhassan Iddrisu reported that GDP per capita increased to GH¢42,502 in 2025 from GH¢35,834 in 2024, representing growth of 18.6 percent year-on-year. In dollar terms, per capita income surged by 33.9 percent, from US$2,527 to US$3,385, reflecting both economic expansion and the impact of exchange rate appreciation.
Fourth-quarter performance highlights stronger momentum
Ghana’s economy grew by 5.8 percent in the fourth quarter (Q4) of 2025, up from 4 percent in Q4 2024. Dr Iddrisu noted that this indicates stronger year-on-year economic momentum toward the end of the year, with most growth driven by non-oil activities. Non-oil GDP expanded by 7.1 percent in Q4 2025, compared with 4.8 percent in Q4 2024, underscoring the rising contribution of sectors outside oil and gas.
The agriculture sector showed notable improvement, growing by 5.3 percent in Q4 2025, up from 3.2 percent the previous year. Crop production rose by 6.6 percent, and cocoa returned to positive growth at 3 percent, rebounding from a 12.8 percent contraction in Q4 2024.
Industry also improved but remained constrained by oil and gas performance. Industrial activity grew by 1.9 percent in Q4 2025, compared with 0.3 percent in the same quarter of 2024. While manufacturing expanded by 6.1 percent and electricity generation by 7.2 percent, oil and gas output contracted sharply by 16.8 percent limiting overall sector growth.
The services sector continued to be the main driver of Ghana’s economy, expanding by 8.6 percent. Services accounted for 50.6 percent of GDP and contributed 63.4 percent of total economic growth, highlighting their central role in sustaining overall expansion.
Policy recommendations for households and businesses
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The GSS advised households to strengthen financial resilience by managing expenditures, rebuilding savings, and investing in skills and income-generating activities linked to fast-growing sectors. Key opportunities exist in information and communication technology (ICT), transport and logistics, agriculture value chains, and digital services.
Businesses were urged to focus investment on high-performing sectors, including ICT, transport and storage, manufacturing, agroprocessing, education, and financial services. Firms are encouraged to enhance productivity, adopt technology, manage costs, and diversify supply chains to remain competitive amid uneven growth across sectors.
Government priorities to sustain momentum
The GSS called on the government to continue supporting sectors with high growth potential while addressing weaknesses in oil and gas, mining, forestry, and other contracting activities. Continued investment in agricultural productivity, agroprocessing, logistics infrastructure, digital infrastructure, and industrial value chains is critical to sustaining non-oil growth and broadening the sources of economic expansion.
Overall, Ghana’s 2025 performance reflects a shift toward a more diversified economy, with non-oil sectors increasingly driving growth and per capita income gains. The country’s focus on strategic investments, innovation, and infrastructure development is expected to underpin continued economic momentum in the years ahead.
