GHANA: Economy expands 3.8% in October 2025

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Dr Alhassan Iddrisu (head of table) addressing the media Photo: Seth Osabukle THE country’s economy in October 2025 provisionally grew at 3.8 per cent relative to the 3.0 per cent recorded in October 2024, the Ghana Statistical Service (GSS) has revealed.

The October 2025 growth rate was driven largely by the services sector, which expanded by 5.5 per cent, while industry grew by 3.0 per cent.

Presenting the Monthly Indicator of Economic Growth (MIEG) in Accra yesterday, the Government Statistician, Dr Alhassan Iddrisu, said the MIEG provided early guidance on prevailing economic trends.

He explained that the MIEG was a high-frequency economic indicator designed to track changes in economic activity on a monthly basis, rather than waiting for quarterly or annual Gross Domestic Product (GDP) figures.

According to him, the index combined information from the three main sectors of the economy, agriculture, industry and services, to provide a timely data on the performance of the economy.

“This release matters because it gives early monthly insight into how Ghana’s economy is performing well before the official quarterly GDP figures are published,” Dr Iddrisu said.

He added that the data was particularly useful for policymakers, businesses, households, investors and development partners, as it helped guide decisions at the right time.

Dr Iddrisu said the MIEG index for October 2025 stood at 112.7, compared to 108.6 in October 2024, adding that data from October 2023 to October 2025 showed a clear upward trend, with the index rising from 105.4 to 112.7, confirming sustained expansion in economic activity over the two-year period.

The Government Statistician further elaborated that the services sector remained the main driver of growth, expanding by 5.5 per cent in October 2025, close to the 5.6 per cent recorded in the previous year.

He said the services sector growth was driven largely by information and communication as well as wholesale and retail trade.

The Government Statistician also noted that the services index rose from 103 in October 2023 to 114.7 in October 2025, highlighting its central role in supporting economic growth.

“In terms of contribution to growth, services contributed 75 per cent, while net indirect taxes contributed negative 4.7 per cent, together summing up to the overall growth of 3.8 per cent,” Dr Iddrisu stated.

Again, he asserted that industry recorded a growth rate of 3.0 per cent in October 2025, a significant improvement over the 0.4 per cent recorded in October 2024.

He said the expansion was driven mainly by manufacturing, signaling improved industrial activity, citing that industry contributed 28.7 per cent to the overall 3.8 per cent growth rate.

Dr Iddrisu also underlined that agriculture recorded a growth rate of 0.9 per cent in October 2025, down from 2.1 per cent in October 2024.

Moreover, He attributed the modest growth largely to fish production, noting that agriculture remained highly seasonal towards the end of the year.

“Despite fluctuations, the agricultural index rose gradually from 103.5 in October 2023 to 106.6 in October 2025, indicating steady long-term growth and contributed 1.3 per cent to the overall growth rate in October 2025,” Dr Iddrisu disclosed.

The Government Statistician reaffirmed the GSS’s commitment to producing timely, accurate and credible statistics to support evidence-based decision-making for national development.

By KINGSLEY ASARE

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