Ghana's Economy Grows by 5.5% Amidst Slowing Industrial Sector

Ghana's economy grew by 5.5% in the third quarter of 2025, bolstered by agriculture and services. This represents a decline from the previous year's 7% growth, mainly due to a sluggish industrial sector. Inflation dropped, prompting a significant interest rate cut by the central bank.

Ghana's economy demonstrated resilience with a 5.5% growth in the third quarter of 2025, according to the national statistics agency. This expansion was predominantly supported by the agriculture and services sectors. The industrial sector, however, showed signs of weakness, growing by only 0.8% which contributed to a slower overall growth rate compared to the 7% recorded in the same period last year.

Significant contributions came from fishing and crop production, boosting agriculture growth to 8.6%, while the services sector, which includes finance, insurance, trade, and education, grew by 7.6%, according to government statistician Alhassan Iddrisu. "Agriculture's contribution was notably significant, underscoring its rapid recovery and increasing influence on national output," Iddrisu remarked.

Meanwhile, Ghana's non-oil real GDP growth rate slightly decreased to 6.8% from 7.8% the previous year. The nation, overcoming a recent economic crisis, continued to benefit from a steady decline in inflation, which reached its lowest level since 2021 at 6.3% in November. This drop prompted the central bank to reduce its main interest rate by 1,000 basis points throughout the year, reflecting a positive economic outlook.

(With inputs from agencies.)