FX.co ★ Ghana’s Economy Gains Traction in Q1

In the first quarter of 2025, Ghana's economy expanded by 5.3% compared to the previous year, marking an increase from the 3.6% growth observed in the prior three months. The industrial sector experienced a notable upswing, growing by 3.4%—a significant jump from the mere 0.2% in the preceding period. This surge was primarily driven by a robust 5.6% rise in gold production. In parallel, the agricultural sector, which accounts for approximately 40% of the employment, showed impressive growth of 6.6% in Q1, a notable improvement from the 2.9% reported in the fourth quarter of 2024. This growth was largely fueled by a resurgence in cocoa production, which had been declining for six successive quarters. Meanwhile, the services sector continued its positive trajectory, expanding by 5.9%, though this was slightly below the 6.3% increase seen in the previous quarter.