The Government Statistician, Dr. Alhassan Iddrisu, has alluded that Ghana's economy is recovering, based on the first quarter Gross Domestic Product estimates.

According to him, this is a sign of growth and recovery for the Ghanaian economy.

Dr. Iddrisu disclosed when he released the first quarter GDP estimates in Accra.

Ghana’s economy grew by 5.3% in the first quarter of 2025 compared to 4.9% posted during the same period in 2024.

On a quarter-on-quarter basis, the economy expanded by 1.4% in 2025, compared to 0.9% in the first quarter of 2024.

“We can also say that the development shows that the economy is expanding in all areas”, Dr. Idrissu alluded.

Growth Drivers

According to him, Crops, Information and Communication, Manufacturing, Trade and repair of Vehicles were some of the main drivers for the first quarter growth.

The rest are Household Goods, Transport and Storage, Finance and Insurance were the main drivers of the growth of First Quarter GDP Estimates.

The Ghana Statistical Service added that “ all these sub-sub sectors contributed about 84.5 percent of the 5.3 percent growth recorded for the first quarter of 2025.”

Breakdown

The fishing sector grew by 16.4% in the first quarter of 2025.  Information and Communication posted 13. 1% growth, Finance and Insurance 9.3%, Transport and Storage 8.6% and Health and Social Work – 7.3%.

Performance of Various Sectors

The Agriculture sector recorded the highest real GDP growth of 6.6% (year-on-year), followed by the Services sector at 5.9%, whilst the Industry sector recorded a growth rate of 3.4%.

However, the Services sector continues to be the largest sector of the Ghanaian economy in Q1 2025, with a share of 46.8% of GDP at basic prices.

The GDP shares of Industry and Agriculture were 29.7% and 23.5%, respectively.