Ghana’s economy grows 7.7% in February as services sector drives expansion
Ghana’s economy recorded robust growth in February 2026, with economic activity expanding by 7.7 per cent year-on-year, according to the latest Monthly Indicator of Economic Growth (MIEG) published by the Ghana Statistical Service (GSS).
The latest figures underscore continued resilience across major sectors of the economy, with the services sector emerging as the largest contributor to overall growth during the period under review.
Data from the report showed that the services sector grew by 7.4 per cent in February 2026, accounting for 47.6 per cent of total economic growth recorded for the month. The expansion was largely supported by strong performance within the information and communication sub-sector, reflecting increased digital and business activity.
The industrial sector also delivered a strong performance, expanding by 9.6 per cent year-on-year. According to the GSS, the growth was mainly driven by increased output within the mining and quarrying sector, which continues to play a critical role in Ghana’s economic recovery.
Agriculture posted comparatively moderate growth of 3.8 per cent, supported by gains in crop production and livestock activities.
The report further indicated that Ghana’s Monthly Indicator of Economic Growth index rose to 111.3 in February 2026, up from 103.3 recorded in the corresponding period last year. The increase points to sustained momentum in economic activity despite prevailing macroeconomic pressures.
Government Statistician, Dr. Alhassan Iddrisu, says the latest figures provide an early indication of improving economic conditions ahead of the country’s quarterly GDP release.
The Ghana Statistical Service explained that the Monthly Indicator of Economic Growth tracks changes in economic performance across the agriculture, industry and services sectors using monthly data and administrative records, while accounting for inflationary adjustments.
Analysts say the strong growth recorded in the services and industrial sectors could reflect improving business confidence and gradual recovery in private sector activity. However, concerns remain over inflationary pressures, exchange rate stability and external economic risks, which continue to shape Ghana’s broader economic outlook.
The latest data is expected to strengthen optimism about the pace of economic recovery, particularly as policymakers intensify efforts to sustain growth, stabilise prices and improve investor confidence.
