Ghana’s economy expands 5.1% in May 2026; services drive expansion, agriculture slows
Presenting the report, the Government Statistician, Dr. Alhassan Iddrisu, explained that the latest figures indicate the economy is still expanding, although at a gentler pace than a year earlier.
In May 2026, Ghana's economy expanded by 5.1% year-on-year, according to figures released by the Ghana Statistical Service (GSS). The Services sector continued to lead the growth, with a 7.2% increase, slightly below the 7.5% growth in the same month last year. Industry also grew by 4.2%, driven by mining and quarrying activities.
However, Agriculture experienced a significant slowdown, with growth down to 3.6% from 9.8% in May 2025. The Services sector contributed 51% to the overall economic growth, followed by Industry at 23.8% and Agriculture at 21.2%, with net taxes accounting for the remaining 4%. The GSS noted that while economic growth is positive, it is increasingly reliant on the Services sector, making the economy more vulnerable to any downturn in this sector.
They also warned that the slowdown in Agriculture could impact food prices, rural incomes, and export earnings, advocating for targeted policy support and improved infrastructure for Agriculture.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
