Economic Activity in Ghana Up 3.8% Amid Services Sector Surge

Ghana’s economy is on a steady growth path, with overall economic activity expanding by 3.8 per cent year-on-year in October 2025, fueled largely by the services sector, the Ghana Statistical Service (GSS) has reported.

The growth marks an improvement from the three per cent recorded in October 2024, according to the Monthly Indicator of Economic Growth (MIEG) released by GSS on January 14.

The MIEG, which offers an early snapshot of economic performance before official GDP figures, recorded a 112.7 growth index across agriculture, industry, and services for October 2025, up from 108.6 the previous year.

Breaking down the sectors, services led the expansion with a 5.5 per cent growth, driven by communication, wholesale, and retail trade activities. The industry sector rose by three per cent, largely on the back of manufacturing, while agriculture recorded a 0.9 per cent growth, buoyed by gains in fishing.

Addressing the press in Accra, Dr Alhassan Iddrisu, Government Statistician, said the figures signal positive momentum heading into the final quarter of 2025, highlighting a clear upward trajectory in economic activity from 105.4 in October 2023 to 112.7 in October 2025.

“The data confirms that Ghana’s economy has been expanding steadily over the past two years, with services and industry driving much of this growth,” he noted.

Dr Iddrisu urged the government to boost industrial productivity and value addition, while addressing structural challenges in agriculture to strengthen resilience. He also encouraged businesses to invest in manufacturing, trade, and digital services, highlighting opportunities for expansion and job creation, and advised households to plan carefully in light of seasonal price fluctuations.

On potential risks, the Government Statistician pointed to inflation, exchange rate volatility, fiscal deficits, and energy sector challenges as key areas requiring close monitoring. “Economic stabilization is key. Growth cannot be sustained in an environment of unpredictable inflation or unreliable energy supply,” he said.

The report underscores Ghana’s services-led economic momentum, signaling continued expansion opportunities for investors, businesses, and policymakers alike, as the country heads toward a productive close to 2025.