The economy of Ghana recorded a solid 5.5% expansion in the third quarter of 2025, according to provisional data from the Ghana Statistical Service (GSS).
The growth marks one of the strongest quarterly performances in recent years, signalling improving economic momentum despite global and domestic challenges.
The GSS attributes the uptick primarily to significant gains in the non-oil sector and a strong rebound in agriculture.
Non-oil nominal GDP also rose strongly to GH¢331.5 billion, compared to GH¢278.5 billion in Q3 2024; a sign that the economy’s momentum continues to come from non-oil sectors.
Agriculture posted a remarkable 8.6 per cent growth, recovering sharply from 2.5 per cent in Q3 2024. The fishing sub-sector was the standout performer, expanding by 23.1 per cent after contracting by 6.4 per cent in the previous year.
Analysts said the strong agricultural performance is good news for food supply and price stability.
Key subsectors such as crops and livestock recorded notable growth, helping to offset weaknesses in some industrial activities.
In contrast, the oil and gas sector continued to face production constraints, contributing less to overall GDP compared to previous years.
Declines in crude oil output and maintenance-related slowdowns in petroleum activities limited the sector’s impact on national growth figures.
Economists note that the strong non-oil results reflect a gradual diversification of Ghana’s economy—an encouraging development as the country continues to navigate external pressures, including fluctuating commodity prices and global inflation trends.
The government has described the latest GDP figures as evidence that ongoing structural reforms are yielding results.
The Government Statistician, Alhassan Iddrisu (PhD), reported that nominal GDP for Q3 2025 reached GH¢339.4 billion, up from GH¢293.1 billion a year earlier.
Real GDP for the quarter stood at GH¢50.8 billion, higher than GH¢48.2 billion recorded in the same period of 2024. Non-oil real GDP also improved to GH¢48.7 billion, from GH¢45.6 billion last year.
With the final quarter of 2025 underway, policymakers and investors will be closely monitoring whether the economy can maintain or surpass the Q3 performance as the country works toward broader economic recovery and long-term growth.
Sub-sectors driving growth
The main drivers of GDP growth in Q3 2025 were:
• ICT
• Crops
• Trade
• Transport and storage
• Manufacturing
• Education
Together, these accounted for about 86 per cent of total growth.
Biggest gainers and losers
The top five expanding sub-sectors were:
• Fishing (23.1 per cent)
• ICT (17.0 per cent)
• Transport & Storage (10.4 per cent)
• Trade (10.0 per cent)
• Crops (8.3 per cent)
The largest contractions came from:
• Oil & Gas (-18.2 per cent)
• Health & Social Work (-9.7 per cent)
• Mining & Quarrying (-2.8 per cent)
• Accommodation & Food Services (-7.2 per cent)
• Other Personal Services (-3.5 per cent)
The report also noted that the GDP deflator showed slower growth, signalling some moderation in prices during the period.
