Professional services firm Deloitte is optimistic that the government will achieve its 4.0% Gross Domestic Product (GDP) growth target for 2025.
According to the professional services firm, policies like the 24-Hour Economy Programme would be key in creating an environment that will enable the government to work with the private sector to achieve sustainable economic growth with tangible benefits for Ghanaians.
“The GDP growth of 5.3% in the first quarter of 2025 exceeded the 4.9% GDP growth for quarter one and the 2025 annual target of 4.0%. This indicates the likelihood of achieving the annual GDP growth target by the end of the year”.
It explained that the growth in the first quarter of 2025 was anchored by the Industry sector, which expanded by 6.8%.
According to Deloitte, this provides an early indication of previous investments in the industry yielding results.
Real Sector Performance
The Agriculture sector accounted for 23.5% of quarter one 2025 GDP at basic prices, marking an increase of 1.4% against quarter one 2024 contribution of 22.1% and signifying an increase in productivity in the sector compared to the same period last year.
Similarly, Industry contributed 29.7% to GDP at basic prices, a 0.1% increase from 29.6% in the same period of 2024. This slight increase was achieved despite a 22.1% contraction in the Oil and Gas sub-sector.
The Services sector maintained its position as the largest contributor to GDP in the first quarter of 2025. Its contribution to GDP, however, decreased by 1.5% from 48.3% in the first quarter of 2024 to 46.8% in quarter one 2025.
The major drivers of non-oil GDP growth cut across the following:
Fishing (16.40%)
Information & Communication (13.10%)
Financial & Insurance Activities (9.3%)
Transport & Storage (8.60%)
Health & Social Work (7.30%)
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