Ghana’s gross domestic product (GDP) expanded by 5.3 percent year-on-year in the first quarter (Q1) of 2025, compared to 4.9 percent (revised) in the same period last year, the Ghana Statistical Service (GSS) announced on Wednesday.
The Q1 2025 growth rate marks a year-on-year increase of 0.4 percentage points over the same period last year.
Alhassan Iddrisu, the government statistician at the GSS, released the data during a press briefing, adding that the growth was driven by the strong performance of the agriculture and services sectors.
All sectors recorded growth, except the industry sector, which recorded a decline, according to Iddrisu.
“With 46.8 percent of GDP, the services sector expanded by 5.9 percent year-on-year, and the agriculture sector, with 23.5 percent share of GDP, grew by 6.6 percent,” the government statistician said.
The industrial sector, which made up 29.7 percent of GDP, grew by 3.4 percent compared to 6.7 percent last year, added the official. The Ghanaian government has forecast the country’s GDP to expand by 4.2 percent in 2025 as the reforms backed by a 3-billion-dollar loan from the International Monetary Fund begin to make modest impacts.