Ghana’s financial momentum eased within the third quarter of 2025, increasing by 5.5% in comparison with a revised 6.5% progress charge recorded within the earlier quarter.
That is in accordance with the newest nationwide accounts knowledge, launched in Accra on Wednesday by Authorities Statistician Alhassan Iddrisu.
The info present that whereas the economic system stays resilient, cooling exercise in key sectors—notably providers and trade—tempered general efficiency.
The revised knowledge additionally present that Ghana’s second-quarter progress was adjusted from 6.3% to six.5%, demonstrating an earlier-than-expected financial rebound earlier than the newest moderation.
Sector Breakdown: Trade and Providers Lose Steam
The commercial sector recorded considered one of its weakest performances in current quarters, rising by simply 0.8%, down from 2.3% in Q2.
Manufacturing, nonetheless, offered a brilliant spot throughout the sector, increasing 3.9%, the strongest industrial sub-sector efficiency.
Development, mining, and quarrying actions remained subdued, reflecting slower home and export demand.
The providers sector, which historically drives Ghana’s GDP, additionally cooled. It grew 7.6% in Q3, a notable decline from the revised 9.6% progress within the prior quarter.
Subdued efficiency in commerce, transport, and knowledge providers contributed to the slowdown.
Monetary providers, nonetheless adjusting to tighter regulatory measures, additionally noticed decelerated progress.
Agriculture Emerges because the Star Performer
In distinction to the cooling industrial and providers sectors, agriculture surged, increasing 8.6%, up from a revised 7.1% in Q2.
The fisheries sub-sector delivered notably robust output, supported by favorable climate circumstances and improved authorities help applications.
The robust agricultural efficiency helped soften the impression of moderation in different sectors, offering a extra balanced basis for general progress.
Authorities Eyes Stability as IMF Exit Nears
Ghana’s authorities has pledged to maintain fiscal and financial self-discipline because it prepares to exit the three-year Worldwide Financial Fund (IMF) help program.
Authorities are concentrating on 4% progress in 2025, with projections rising to 4.8% in 2026 on the again of anticipated reforms and improved fiscal stability.
The administration’s dedication to curbing debt accumulation, boosting home income, and enhancing expenditure effectivity stays central to its post-IMF technique.
What you need to know
In November, the Bank of Ghana lower its coverage charge by 350 foundation factors to 18%, the biggest single discount in years.
Governor of the Bank of Ghana, Johnson Asiama, talking in Accra, stated the Financial Coverage Committee (MPC) voted overwhelmingly in favour of easing charges, citing stronger actual rate of interest circumstances and confidence within the nation’s inflation outlook.
The central bank signaled that additional easing might comply with in early 2026 as inflation continues to reasonable and change charge pressures subside.
Nairametrics reported that Ghana’s inflation charge declined for the eleventh consecutive month, reaching its lowest degree in almost seven years, with annual inflation dropping to six.3% in November.