Business News of Thursday, 11 December 2025

Source: classfmonline.com

Take advantage of improving food conditions to rebuild savings – Government Statistician

The Government Statistician, Dr Alhassan Iddrisu, has urged Ghanaians to take advantage of improving food conditions to rebuild savings.

This follows reports that Ghana’s economy expanded by 5.5 percent in the third quarter of 2025, according to new provisional data released by the Ghana Statistical Service (GSS), signalling continued resilience across key sectors despite global economic pressures.

The GSS report shows that the non-oil economy, reflects the performance of sectors outside petroleum production, grew by 6.8 percent. Although slightly lower than the growth recorded last year, the figure confirms stable improvement in underlying economic activities.

One of the standout performances came from the Agriculture sector, which surged by 8.6 percent a major jump from the 2.5 percent recorded in the same period in 2024. The crops sub-sector remained the star contributor, driving most of the gains. Analysts say this strong outturn suggests increasing productivity, particularly among small- and medium-scale farmers.

The Industry sector showed signs of recovery, recording a modest 0.8 percent growth after contracting last year. Manufacturing and food processing activities helped lift the sector back into positive territory. However, industrial growth was dragged down by the poor performance of the oil and gas sub-sector, which suffered a sharp 14.1 percent contraction, continuing the decline observed in previous quarters.

Meanwhile, the Services sector remained the backbone of the Ghanaian economy, expanding by 7.6 percent and contributing the largest share to GDP about 40 percent. The sector’s influence on overall growth was significant, supported by strong performances in ICT, trade, transport, storage, and education-related services.

The GSS noted that ICT, crops, trade, transport, storage, manufacturing, and education accounted for nearly 86 percent of total GDP growth in the quarter, underlining how central these sectors have become to the country’s economic trajectory.

This is good for farmers and food prices, he said during a press conference in Accra on Wednesday, December 10.

Dr Iddrisu further stated that fishing grew the largest at 23.1% compared to a contraction (-6.4%) in Q3 of 2024. Industry grew by 0.8% in 2025 3rd quarter, compared to 11.4% in 2024 3rd quarter. The oil and gas sector dragged industrial growth significantly (contraction of 18.2%) but Manufacturing was strong, growing by 3.9% down from 7.4% in 2024Q3.