Ghana’s economy grows 6.0% in Q2 2026, first-half growth hits 6.2% – GSS

Ghana's economy experienced a growth of 6.0% in the second quarter of 2026, leading to an overall growth of 6.2% for the first half of the year, according to the Ghana Statistical Service (GSS). This growth figure marks a slight deceleration compared to the 6.1% recorded in the same period last year. Despite the slowdown, non-oil GDP maintained its resilience, expanding by 5.4% in the second quarter, while the first-half non-oil growth reached 5.9%.

It is evident that economic growth in Ghana continues to be primarily fueled by the services sector, particularly the information and communications technology (ICT) industry, alongside oil and gas production and investment. The services sector exhibited a robust growth of 8.0% in the second quarter, contributing 57.6% to the overall GDP growth during this period.

Within the services sector, ICT stood out as the leading activity, with a staggering growth of 30.9%, which accounted for 41.5% of the total GDP growth in the quarter. This performance highlights the increasing role of services and digital-related activities in driving overall economic expansion. The industrial sector made a modest contribution of 4.3% to the economy's growth in the second quarter, bolstered by a significant rebound in oil and gas production.

Oil and gas activities grew by 21.4% during the period, playing a crucial role in enhancing the industrial sector's performance. However, the industrial expansion was not uniform across all activities, indicating a more moderate pace of growth compared to the services sector. Agriculture's growth remained subdued at 3.9% in the second quarter, making it one of the weaker-performing sectors.

The downside was attributed to a sharp contraction in the fishing industry, which declined by 24.7% during the period. This relative stagnation in agriculture contrasts sharply with the stronger performance of services and ICT. Investment and domestic demand showed promising signs of growth, with investment increasing by 53.0% in the second quarter and domestic demand rising by 11.2%.

On a quarter-on-quarter basis, real GDP grew by 1.4% seasonally adjusted, indicating that economic activity continued to expand during the period. The latest figures indicate that Ghana's economy is still on a growth trajectory, albeit with sectoral concentration. The robust performance from services, ICT, oil and gas, and investment has contributed to the overall growth, while agriculture and certain industrial activities have shown more modest expansion.

With first-half GDP growth standing at 6.2% and non-oil growth at 5.9%, the data suggests that the economy continues to exhibit resilience. However, a significant policy challenge lies in ensuring that this growth becomes more evenly distributed across various productive sectors, leading to improved employment and household incomes.