Ghana’s economy expands by 7.7% in February 2026 – GSS

Ghana recorded a significant expansion in economic activity in February 2026, with the economy growing by 7.7 percent year-on-year, according to the latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service.

The report revealed that the MIEG index increased from 103.3 in February 2025 to 111.3 in February 2026, reflecting stronger performance across key sectors of the economy and indicating improved economic momentum compared to the same period last year.

The Monthly Indicator of Economic Growth serves as an early signal of Ghana’s quarterly Gross Domestic Product (GDP) performance by tracking monthly changes in economic activity across major sectors.

Presenting the figures during a press briefing on May 13, Government Statistician Alhassan Iddrisu said the latest results point to growing confidence in the Ghanaian economy alongside stronger market performance.

According to the report, the services sector remained the largest contributor to Ghana’s economic growth, accounting for 47.6 percent of the overall 7.7 percent expansion recorded in February 2026.

The industry sector followed closely, contributing 44.2 percent to total growth, while agriculture accounted for 5.5 percent. Net indirect taxes made up the remaining 2.7 percent.

Among the three major sectors, industry recorded the fastest growth rate, expanding by 9.6 percent compared to February 2025. The strong performance was largely driven by increased activity in mining and quarrying, manufacturing and electricity generation.

The GSS noted that this marks a substantial improvement from the 2.8 percent industry growth recorded during the same period in 2025.

The services sector also posted strong growth, expanding by 7.4 percent year-on-year compared to 4.4 percent in February 2025. The sector’s performance was supported mainly by increased activity in information and communication, finance and insurance, health services and trade.

Agriculture, however, recorded slower growth of 3.8 percent, significantly lower than the 9.4 percent growth achieved in February 2025. According to the report, the sector’s growth was driven primarily by crop production, livestock activities, forestry and logging.

The report also announced revisions to January 2026 growth estimates following the incorporation of updated data from institutions including the Ghana Revenue Authority, Fisheries Commission, Controller and Accountant-General’s Department and the Volta River Authority.

As a result, January’s provisional growth estimate was revised downward from 7.5 percent to 6.1 percent.

The revisions affected several subsectors, including manufacturing, trade, fishing, electricity, public administration, education and health services.

While the industry sector’s January estimate was revised upward from 7.0 percent to 8.9 percent, the services sector experienced the largest downward revision, falling from 9.6 percent to 5.3 percent.

The Ghana Statistical Service explained that the MIEG remains an experimental statistical indicator and is currently not seasonally adjusted due to limited historical data availability. Consequently, only annual growth comparisons are currently being reported.

The next MIEG release, which will include data for March 2026 alongside Ghana’s first quarter GDP estimates, is scheduled for June 10, 2026.