Ghana’s Economy Accelerates To 6.3% Growth In Q2, Driven By The Services Sector

Ghana’s economy grew by a provisional 6.3% year-on-year in the second quarter of 2025, signaling a strengthening recovery from a recent economic crisis.

The growth rate marks an acceleration from a revised 5.7% recorded in the same period a year earlier.

The rebound was primarily powered by a robust performance in the services sector, which recorded a provisional real GDP growth of 9.9% year-on-year.

The sector, which remains the largest contributor to the Ghanaian economy with a 41.9% share of GDP, was the main driver of overall growth, contributing 4.03 percentage points to the total.

According to the Ghana Statistical Service, key sub-sectors that drove this growth included Information and Communication (21.3% growth), Education (16.6%), and Financial and Insurance Activities (9.7%).

The provisional data further indicates a strong performance in the non-oil economy, which advanced by 7.8% in the second quarter. Gains in the Agriculture sector, which grew by 5.2% year-on-year, helped cushion a contraction in oil production.

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The Industry sector as a whole recorded a growth rate of 2.3% , but this was offset by contractions in key sub-sectors such as Mining and Quarrying (-1.8%) and Real Estate (-1.8%). The oil and gas sub-sector saw a significant contraction of 22.5%.

On an expenditure basis, the provisional growth was driven by Net Exports (691.6%), Gross capital formation (17.1%), and Household final consumption expenditure (12.2%). This was partially offset by a contraction in Government final consumption expenditure, which fell by 0.2%.

Government Statistician Alhassan Iddrisu, who released the figures, noted that the data reflects a strengthening recovery from Ghana’s deepest economic crisis in decades.

The stronger-than-expected growth is expected to bolster investor confidence as policymakers continue to work to sustain stability and advance reforms backed by the International Monetary Fund (IMF).