File photo of Makola Market [Image Credit: JAFEPX] File photo of Makola Market [Image Credit: JAFEPX]

Ghana’s economy expanded by 6.3% in the second quarter of 2025, marking an improvement over the 5.7% recorded during the same period last year.

According to the latest data from the Ghana Statistical Service (GSS), growth was largely driven by the services sector, which surged by 9.9%, compared to just 2% in Q2 of 2024.

Key contributors to this expansion included the finance, insurance, trade, and education sectors, which continue to demonstrate resilience and dynamism.

Meanwhile, non-oil GDP rose by 7.8%, supported by gains in agriculture and other productive sectors. This helped cushion the impact of a decline in oil production.

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Commenting on the figures, Government Statistician, Dr Alhassan Iddrisu said the performance reflects a strengthening recovery and growing momentum across multiple sectors.

“We’re seeing signs of real economic resilience,” he noted.

Inflation also moved in a positive direction, easing to 11.5% in August, its lowest level since October 2021. This beats the Finance Ministry’s year-end target of 11.9%, offering renewed optimism for households and businesses.

The stronger-than-expected growth is expected to bolster investor confidence as the government continues to implement IMF-backed reforms aimed at restoring macroeconomic stability and unlocking new opportunities for development.

SA/MA

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