Ghana’s industrial sector recorded a sharp slowdown in November 2025, growing by just 0.4 per cent, amid declining activities in mining and upstream petroleum operations.
According to the latest Monthly Indicator of Economic Growth (MIEG) report, industry growth fell significantly from 6.2 per cent in November 2024 to 0.4 per cent in November 2025.
The bulletin describes this development as “an indication of a contraction in mining and quarrying largely on the back of contraction in upstream petroleum activities.”
The weak industrial performance comes despite the economy recording an overall growth rate of 4.2 per cent during the period.
The report shows that while services and agriculture recorded strong expansions, industry lagged behind.
The MIEG further indicates that industry contributed minimally to national growth in November 2025.
“The sector contributed 2.5 percent” to overall economic growth, compared to 57.7 per cent from services and 32.4 per cent from agriculture.
This limited contribution highlights the growing imbalance among the major sectors of the economy, with industry playing a diminishing role in recent months.
The slowdown in mining and petroleum activities raises concerns about Ghana’s extractive sector, which remains a major source of export earnings and government revenue.
The report links the weak performance directly to upstream petroleum operations, noting that the contraction affected overall industrial output.
Analysts say persistent challenges in oil production, investment delays, and operational constraints in the mining sector could further undermine industrial growth if not addressed.
Despite industry’s struggles, strong performance in other sectors helped stabilise overall economic growth.
The services sector grew by 6.7 per cent, driven mainly by ICT-related activities, while agriculture expanded by 4.1 per cent, supported by increased crop and fishing output.
These sectors helped offset the weak industrial performance, preventing a sharper slowdown in economic activities.
The MIEG report also notes that the indicator provides “a reliable early indication of movements in economic activity” and allows policymakers to assess sectoral performance ahead of quarterly GDP releases.
Economists believe the latest figures underscore the need for renewed investment, regulatory stability, and infrastructure support in the mining and petroleum sectors to restore industrial momentum.
