Ghana’s economy recorded a year-on-year growth of **6.3% in the second quarter of 2025**, up from **5.7%** in the same period last year, according to new data from the Ghana Statistical Service. The growth was largely driven by a strong rebound in the **services sector**, which expanded by **9.9%**, a sharp rise from just **2%** in Q2 2024.
Despite the improved overall performance, analysts warn that **slowing growth in agriculture and industry could pose long-term risks** to economic stability.
Agriculture—long considered the **backbone of Ghana’s economy**—grew by **6.6% in Q1** but dropped to **5.2% in Q2**, sparking concerns over its resilience. The **industrial sector** also weakened, with growth slowing from **3.4% in Q1** to **2.3% in Q2**.
In an interview, **Nelson Kuagbedzi**, Head of Finance at Merban Capital, emphasized the need for targeted policy support for agriculture.
> “We can attribute much of the growth to macroeconomic stability, increased investor confidence, and supportive government policies. However, the slowdown in agriculture and industry is worrying. Agriculture remains the lifeblood of our economy, and it requires sustained intervention,” Kuagbedzi said.
Meanwhile, **non-oil GDP** increased by **7.8%**, helping to offset a contraction in oil production. Government Statistician **Alhassan Iddrisu**, who released the report, said the data reflect a continued recovery from **Ghana’s deepest economic crisis in decades**.
Adding to the positive outlook, **inflation dropped to 11.5% in August 2025**, its **lowest level since October 2021**, and below the Finance Ministry’s end-of-year target of 11.9%.
Economists believe the stronger-than-expected growth and easing inflation will help **boost investor confidence**, especially as Ghana continues to implement **IMF-supported economic reforms** aimed at restoring fiscal discipline and promoting sustainable development.
Source: CitiBusinessNews.com
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