Ghana’s Economy Grows 5.5% in Q3 2025, Slower Than Last Year

Accra, Dec. 10, – Ghana’s economy expanded by 5.5 per cent year-on-year in the three months to September 2025 (Q3), down from 7.0 per cent during the same period last year, the Ghana Statistical Service (GSS) reported on Wednesday.

The slower growth indicates that the economy produced fewer goods and services compared to Q3 2024.

Dr. Iddrisu Alhassan, Acting Government Statistician, said the agriculture sector continued its post-recovery momentum from Q1 2025, growing 8.6 per cent compared to 2.5 per cent in Q3 2024.

“This is encouraging news for farmers and for food prices,” he added.

Within agriculture, the fishing sub-sector recorded the highest growth, 23.1 per cent, reversing a contraction of -6.4 per cent in Q3 2024.

The industry sector grew modestly by 0.8 per cent, down from 11.4 per cent in Q3 2024, weighed down by a sharp 18.2 per cent decline in oil and gas. Manufacturing, however, remained resilient, expanding 3.9 per cent, down from 7.4 per cent in Q3 2024, reflecting increased power production to support growth.

Dr. Alhassan identified Information and Communication, Crops, Trade, Transport and Storage, Manufacturing, and Education as the main drivers of GDP growth in Q3 2025, collectively contributing about 86 per cent of the 5.5 per cent growth.

On a seasonally adjusted basis, Ghana’s provisional real GDP rose by 1.3 per cent in Q3 2025, down from 1.6 per cent in Q3 2024.

The five fastest-growing sub-sectors were:

• Fishing: 23.1%

• Information & Communication: 17.0%

• Transport & Storage: 10.4%

• Trade: 10.0%

• Crops: 8.3%

Conversely, five sectors experienced contractions:

• Oil & Gas: -18.2%

• Mining & Quarrying: -2.8%

• Health & Social Work: -9.7%

• Accommodation & Food Services: -7.2%

• Other Personal Services: -3.5%

Dr. Alhassan urged households to invest in skills aligned with high-growth sectors, particularly Fishing, ICT, and Trade, to leverage emerging employment opportunities. He also advised them to optimize household budgets amid disinflation, especially in food prices, to enhance savings and purchasing power.

For businesses, he recommended prioritizing investments in key growth drivers such as Agriculture (Fishing, Crops) and Services (ICT, Transport & Storage) to maximize returns. He also encouraged companies in contracting sectors to innovate and explore new markets, particularly in Oil & Gas and Accommodation & Food Services.

Dr. Alhassan called on the government to sustain and amplify support for leading sectors while implementing measures to mitigate declines in industrial sub-sectors, including Oil & Gas and Mining & Quarrying, to stabilize the industrial base and non-oil GDP.

GHBUSS