Ghana’s economy continues to function well, with economic activity increasing by 3.8% year on year in October 2025, driven mostly by the services sector, according to the Ghana Statistical Service (GSS).
This compares to the 3% growth reported in October 2024, according to the Monthly Indicator of Economic Growth (MIEG) provided by GSS on January 14.
The MIEG provides an early indication of how the economy is likely to perform ahead of the computation of Gross Domestic Product (GDP), which is the total value of goods and services generated in the country.
According to data released by the Statistical Service, economic activity in agriculture, industry, and services grew by 112.7 in October 2025 as opposed to 108.6 in October 2024.
Agriculture grew by 0.9%, the industry sector by 3%, and the services sector by 5.5%, according to the Monthly Indicator of Economic Growth, a volume indicator that tracks changes in economic activity on a monthly basis.
Communication, wholesale, and retail trade were the main drivers of the services sector’s growth, whereas the manufacturing subsector was responsible for the industry’s growth, and fishing was the main driver of the agriculture sector’s growth.
Speaking to the media in Accra, Government Statistician Dr. Alhassan Iddrisu stated that “the overall economic activity was higher this October than a year ago.”
“The data shows that from October 2023 to October 2025, the economy follows a clear upward path, rising from an index value of 105.4 to 112.7.”
“This confirms that economic activities have been expanding steadily over the past two years.”
He clarified that even while monthly numbers can fluctuate, the data indicated ongoing growth, especially from the services and industries sectors, and that the steady increasing trend indicated a solid momentum heading into the last quarter of 2025.
The government statistician urged the administration to keep boosting value addition and industrial productivity while tackling structural issues in the agriculture sector to increase resilience.
In order to assist the creation of jobs, he urged businesses to take advantage of opportunities in manufacturing, commerce, and digital services by investing in expansion. He also urged households to make meticulous plans that take seasonal price fluctuations into account.
In response to a query about dangers from the Ghana News Agency, Dr. Iddrisu clarified that solid economic development indicated that the country was on the right track.
However, he listed issues that the government should keep an eye on moving forward in order to maintain economic stability, including inflation, fluctuations in exchange rates, the fiscal deficit, and difficulties in the energy sector.
“Economic stabilisation is key…For example, there is no way you will be able to grow your economy in an environment of hyperinflation or inflation that you cannot predict today,” he stated.
“You need to watch inflation and forex movements and identify both financial and non-financial risks in the energy sector and address them because without energy we cannot produce goods and services.”
Source: newsthemegh.com