Dr. Alhassan Iddrisu
The country’s economy expanded by 4.2% year-on-year in November, significantly lower than the 7.1% recorded in November 2024, latest provisional Monthly Index of Economic Growth (MIEG) released by the Ghana Statistical Service (GSS) shows.
According to the data, the November figure, however, represents a modest uptick from October 2025, when economic activity grew by 3.8% year-on-year, largely driven by strong services sector performance.
The MIEG, which tracks short-term movements in economic activity, suggests that while growth remains positive, momentum is uneven across sectors.
According to the Government Statistician, Dr. Alhassan Iddrisu, the modest improvement recorded by the sector was “driven primarily by fisheries and crop production”.
Industry’s growth slowed sharply. The sector recorded 0.4% compared to 6.2% in the same period, 2024. Despite the strong showing of gold last year, Dr. Iddrisu explained that the decline “is an indication of a slowdown in mining and quarrying activities, especially the oil and gas sectors, largely on the back of a contraction in the upstream petroleum sector”.
Services was the biggest contributor to aggregate production of goods and services, recording a growth of 6.7%, slower than the 10.2% recorded in 2024.
The MIEG shows that although the services sector continued to expand in November 2025, the pace of growth slowed significantly compared to the same period in 2024. The sector contributed 57.7% of the 4.2% growth in the MIEG.
The data also revealed that economic activities in Agriculture grew by 4.1%, compared to 3.8% in November 2024.
This indicates that the agriculture sector experienced a modest improvement in performance compared to November 2024, demonstrating increased resilience and steady expansion over the period. The Agric sector contributed 32.4 percentage to overall growth of 4.2%.
Industry recorded a growth rate of 0.4% in November 2025, compared to 6.2% in the same period the previous year.
The sector contributed 2.5% of the 4.2% growth in the MIEG. This is an indication of a slowdown in mining and quarrying activities, compared to the same period last year.
The November data underscores a cooling in year-on-year growth dynamics, even as the economy maintains a steady expansion path compared to October.
A Business Desk Report