Ghana’s economy grew by 4.5 percent year-on-year in July 2025, according to the inaugural release of the Monthly Indicator of Economic Growth (MIEG) by the Ghana Statistical Service (GSS).

The new MIEG index, designed to provide a more frequent snapshot of economic activity, rose from 105.4 in July 2024 to 110.2 in July 2025. This indicates continued economic expansion despite persistent global and domestic challenges.

However, the latest figure represents a notable slowdown from the 8.3% growth recorded in July 2024, signalling a moderation in the overall pace of economic activity.

Sectoral Performance Highlight

Government Statistician, Dr. Alhassan Iddrisu, noted that the agriculture sector was the key driver of the month’s growth, expanding robustly by 8.0 percent. This strong performance was attributed to improved crop yields and increased productivity in food staples.

In contrast, the industrial sector recorded a marginal growth of only 0.1 percentage point, held back primarily by persistent challenges in energy supply and manufacturing output. The services sector maintained moderate gains for the period expanding by Services sector grew by 6.4 percent.

Dr. Iddrisu explained that the MIEG will be crucial for the nation’s economic management, serving as an early indicator of shifts in economic activity. This will enable policymakers, investors, and businesses to make more timely and informed decisions between the quarterly GDP releases.