Ghana’s economy grows by 5.3% in Q1 2025 – GSS

Ghana’s economy expanded by 5.3% in the first quarter of 2025, marking an improvement over the 4.9% growth recorded during the same period in 2024, according to data released by the Ghana Statistical Service (GSS).

Non-oil GDP growth was even stronger, reaching 6.8%, signaling robust performance in key areas of the economy outside the petroleum sector.

The growth was largely driven by a strong rebound in the Agricultural sector and continued momentum in the Services sector.

However, the Industry sector posted slower growth of 3.4%, largely due to subdued activity in the oil and gas segment.

Speaking to journalists in Accra, Government Statistician Dr. Alhassan Iddrisu said the data points to a generally positive outlook for the economy.

“All major sectors recorded growth, with the exception of Industry, which saw a contraction primarily due to weak performance in oil and gas, growth in the Services sector was led by the Information and Communication Technology (ICT) sub-sector, followed by Financial and Insurance services,” Dr. Iddrisu noted.

The top five fastest-growing sub-sectors during the period were Fishing, ICT, Finance and Insurance, Transport and Storage, and Health and Social Work.

The figures suggest a resilient economy benefiting from sectoral diversification and improved non-oil activity, despite ongoing challenges in the extractive industries.