Ghana’s economy grows 6.3% in second quarter of 2025 (April – June)

Ghana’s economy continued its strong performance in the second quarter of 2025, with provisional real Gross Domestic Product (GDP) expanding by 6.3% compared to the same period last year, according to new data released by the Ghana Statistical Service (GSS).

The growth rate marks an improvement on the 5.7% recorded in Q2 2023, highlighting sustained resilience in the face of global and domestic challenges. When the oil and gas sectors are excluded, the picture is even stronger, with non-oil GDP surging by 7.8% year-on-year, compared to 5.7% in the second quarter of 2024.

On a seasonally adjusted quarter-on-quarter basis, growth moderated slightly to 1.4%, just below the 1.6% recorded in the first quarter of 2025.

ALSO READ: Ghana condemns Israel’s ‘unprovoked’ attack on Qatar

Services Sector Leads Growth

The Services sector retained its position as the dominant driver of Ghana’s economy, accounting for 41.9% of GDP at basic prices and posting the highest growth rate of 9.9% year-on-year.

The Information and Communication sub-sector was the standout performer, recording an impressive 21.3% expansion and reflecting the increasing role of Ghana’s digital economy in shaping growth.

Industry contributed 33.2% to GDP but recorded more modest growth of 2.3%, while Agriculture, which accounts for 24.8% of the economy, expanded by 5.2%.

ALSO READ: BoG suspends remittance partnerships of 5 MTOs, 3 PSPs over regulatory breaches

Mixed Performance Across Sub-sectors

The data pointed to a mixed performance across various sectors. Key growth drivers included Information and Communication, Education, Manufacturing, and Financial and Insurance Activities.

In Agriculture, Livestock recorded the strongest growth at 5.9%, while Fishing registered the weakest at 0.9%.

Within Industry, Electricity grew by 6.7%, emerging as the leading sub-sector. However, this was offset by a 1.8% contraction in Mining and Quarrying, reflecting subdued activity in extractives.

In the Services sector, most sub-sectors expanded, with the exception of Real Estate, which contracted by 1.8% year-on-year.

ALSO READ: Gov’t to merge AT Ghana with Telecel, minister assures no jobs at risk

Expenditure Analysis

From an expenditure perspective, the 6.3% GDP growth was largely driven by a dramatic rise in Net Exports, which surged by 691.6%. This was complemented by strong Gross Capital Formation, which increased by 17.1%, and Household Final Consumption Expenditure, which grew by 12.2%.

However, these gains were partly offset by a marginal decline of 0.2% in Government Final Consumption Expenditure and a sharp drop of 97.8% in NPISH (Non-Profit Institutions Serving Households) Final Consumption.

ALSO READ: Africa-Singapore Forum: Pres. Mahama woos global investors with 24-hour economy

Broader Economic Significance

The figures, compiled under the 2008 System of National Accounts and expressed in 2013 constant prices, underscore Ghana’s ongoing economic diversification and the growing importance of technology and services in driving sustainable growth.

With the Services sector continuing to set the pace, particularly through digital-led expansion, Ghana appears to be positioning itself as one of Africa’s most dynamic economies, with strong potential for long-term resilience and transformation.