Ghana’s economy expands by 6.8% in August 2026, driven by Services sector

Ghana's economy experienced a 6.8 percent growth in August 2026, marking an improvement from 5.3 percent growth in the same period last year. The growth was primarily driven by the services sector, which accounted for 69.9 percent of the total expansion. Within the services sector, information and communication activities led the growth, contributing to a 10.7 percent increase in August.

Industry also showed improvement, growing by 4.5 percent, up from 0.8 percent a year earlier, with manufacturing, mining, and quarrying activities playing a key role. However, agricultural growth slowed significantly, expanding by only 2.6 percent in August, down from 8.6 percent in August 2025 and 3.7 percent in July 2026. The services sector's contribution of 4.8 percentage points to the overall growth, combined with industry's 1.4 percentage points, resulted in the 6.8 percent growth.

Agriculture contributed 0.5 percentage points to this growth, with net taxes accounting for the remaining 0.1 percentage point. The Ghana Statistical Service's Government Statistician, Alhassan Iddrisu, emphasized that the monthly indicator offers an early assessment of economic performance before the release of the quarterly Gross Domestic Product (GDP) figures.

The MIEG data also revealed that economic activity grew by 7 percent in July 2026, revised down from the initial estimate of 7.4 percent. The average growth recorded in July and August stands at 6.9 percent, indicating economic activity in the third quarter of 2026. The figures are provisional and subject to revision as more data becomes available. The next MIEG release, covering September 2026, is expected in the second week of December.