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

Ghana's economy expanded by 6.8 percent in August 2026, marking a notable increase from 5.3 percent in the same period the previous year, according to the Ghana Statistical Service's latest Monthly Indicator of Economic Growth (MIEG) report. The services sector emerged as the key driver, contributing 69.9 percent of the total growth, with service activities expanding by 10.7 percent, up from 7.1 percent in August 2025.

Information and communication technologies played a significant role in this surge. Industry also showed improvement, with growth in manufacturing, mining, and quarrying activities, growing by 4.5 percent, compared to 0.8 percent a year earlier.

However, agricultural output slowed considerably, recording a 2.6 percent growth in August, down from a robust 8.6 percent in August 2025 and 3.7 percent in July 2026. The services sector's contribution to the overall growth stood at 4.8 percentage points, while industry accounted for 1.4 percentage points. Agriculture contributed 0.5 percentage points, with net taxes adding the remaining 0.1 percentage point.

Government Statistician Alhassan Iddrisu explained that the MIEG offers an early assessment of economic performance ahead of the release of quarterly Gross Domestic Product (GDP) figures. July 2026 saw similar growth at 7 percent, although this figure was later revised downward to 7 percent following additional data availability.

This brings the average growth in July and August to 6.9 percent, indicating robust economic activity in the third quarter of 2026. Both the monthly indicator and quarterly GDP performance have consistently tracked 6 percent growth in the second quarter of 2026. The MIEG figures are provisional and subject to revision as additional data become available.

The next MIEG report, covering September 2026, is scheduled for release in the second week of December.