Peer Ghana’s economy expanded by a staggering 6.3% year-on-year in the second quarter of 2025, up from a revised 5.7% in the same period last year, data from the government has showed.
The GDP growth was on the back of fast pace expansion of the services sector, the country’s statistics agency said late Wednesday.
The services sector, encompassing finance, insurance, trade, and education, surged by 9.9% in the quarter compared to 2% a year earlier, government statistician Alhassan Iddrisu said during a news conference.
“In fact, it contributed the most growth in the quarter. It contributed four percentage points to the 6.3% growth we recorded in the quarter,” Iddrisu said.
Non-oil GDP rose 7.8%, boosting growth while agriculture expanded and oil contracted, he said.
The gold-, oil- and cocoa-producing nation is emerging from its most severe economic crisis in decades.
Ghana’s annual inflation rate slowed to 11.5% in August, its lowest level since October 2021. With Ghana’s inflation also slowing, the country’s finance ministry targets year-end inflation of 11.9%.
Ghana has delivered a string of profound economic records this year with the currency gaining near 25%.
