Ghana's Economic Resurgence: Services Sector Leads Growth Surge

Ghana's economy is showing promising signs of recovery, with a notable 6.3% growth in the second quarter of 2025 compared to the previous year. The services sector emerged as a key driver of this growth, witnessing an impressive surge of 9.9% over just one year, as reported by the country's statistics agency.

Government statistician Alhassan Iddrisu highlighted during a news conference that the services sector contributed significantly, accounting for four out of the total 6.3 percentage points of growth achieved in the quarter. This sector includes pivotal components such as finance, insurance, trade, and education.

While the oil sector faced a downturn, the non-oil GDP saw a 7.8% increase, further contributing to the economic upswing. Furthermore, the nation's gold, oil, and cocoa industries have laid a foundation for recovery following a severe economic crisis. Ghana's annual inflation rate has also dropped to 11.5% in August, the lowest since October 2021, indicating stabilizing economic conditions.