Dr. Alhassan Iddrisu
Ghana has experienced an economy growth of 5.3% in the first quarter of 2025, the Ghana Statistical Service (GSS) has said.
This figure is higher than the 4.9% recorded during the same period in 2024.
According to the GSS, the growth was driven by strong performance in the Services sector and a rebound in the Agricultural sector over the period.
However, Industry recorded a slow growth of 3.4% as a result of low activities and slow growth in the oil and gas sector. The non-oil growth rate, however, was 6.8%.
Speaking to Journalists in Accra, Government Statistician, Dr. Alhassan Iddrisu noted that the growth rate indicates positive uptake in the economy.
“All sectors recorded growth, apart from the Industry sector, which recorded a contraction. This is driven by oil and gas. Growth in the services sector was dominated by the ICT sector, followed by the Financial and Insurance sub-sectors”, he said.
The top fine expanding sub-sectors of the economy were Fishing, ICT, Finance and Insurance, Transport and Storage as well as Health and social work.
He alluded that the country’s economy is recovering, based on the first quarter Gross Domestic Product estimates.
According to him, this is a sign of growth and recovery for the Ghanaian economy.
“We can also say that the development shows that the economy is expanding in all areas”, Dr. Idrissu alluded.
Growth Drivers
According to him, crops, information and communication, manufacturing, trade and repair of vehicles were some of the main drivers for the first quarter growth.
The rest are household goods, transport and storage, finance and insurance were the main drivers of the growth of first quarter GDP estimates.
The GSS added that, “all these sub-sub sectors contributed about 84.5 percent of the 5.3 percent growth recorded for the first quarter of 2025.”
Breakdown
The fishing sector grew by 16.4% in the first quarter of 2025. Information and communication posted 13. 1% growth, finance and insurance 9.3%, transport and storage 8.6% and health and social work – 7.3%.
Performance of Various Sectors
The agriculture sector recorded the highest real GDP growth of 6.6% (year-on-year), followed by the services sector at 5.9%, whilst the industry sector recorded a growth rate of 3.4%.
However, the services sector continues to be the largest sector of the Ghanaian economy in Q1 2025, with a share of 46.8% of GDP at basic prices.
The GDP shares of industry and agriculture were 29.7% and 23.5%, respectively.
A Business Desk Report