Ghana’s Economy Expands 7.7% in February 2026
Ghana’s economy recorded strong growth in February 2026, with economic activity expanding by 7.7 percent year-on-year, according to the latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service.
The report showed that the MIEG index increased to 111.3 in February 2026 from 103.3 recorded during the same period in 2025, reflecting stronger economic performance across key sectors of the economy.
The Monthly Indicator of Economic Growth serves as an early gauge of Ghana’s quarterly Gross Domestic Product performance and tracks monthly changes in economic activity.
Presenting the data at a press briefing on May 13, Government Statistician Alhassan Iddrisu said the latest figures point to improved market performance and growing confidence in the economy compared to the same period last year.
According to the report, the services sector remained the largest contributor to overall economic growth, accounting for 47.6 percent of the total expansion recorded in February 2026.
The industry sector followed closely, contributing 44.2 percent to the overall growth, while agriculture accounted for 5.5 percent. Net indirect taxes contributed the remaining 2.7 percent.
The industry sector emerged as the fastest-growing component of the economy, expanding by 9.6 percent year-on-year compared to 2.8 percent growth recorded in February 2025.
The strong performance was driven largely by increased activity in mining and quarrying, manufacturing, and electricity generation.
The services sector also posted solid growth of 7.4 percent, improving from the 4.4 percent growth recorded during the same period last year.
According to the report, the expansion in services was supported mainly by activities in information and communication, finance and insurance, trade, and health-related services.
Agriculture, however, experienced slower growth during the period. The sector expanded by 3.8 percent in February 2026, significantly lower than the 9.4 percent growth recorded a year earlier.
The Ghana Statistical Service attributed the sector’s performance primarily to activities in crops, livestock, forestry and logging.
The report also revised Ghana’s January 2026 economic growth estimate downward after incorporating additional administrative and sectoral data.
According to the revised figures, January 2026 growth was adjusted from the provisional estimate of 7.5 percent to 6.1 percent.
The revision followed the inclusion of updated data from the Ghana Revenue Authority, the Fisheries Commission, the Controller and Accountant-General’s Department and the Volta River Authority.
While the revised data pushed industry growth higher from 7.0 percent to 8.9 percent, growth within the services sector was revised sharply downward from 9.6 percent to 5.3 percent.
The Statistical Service explained that the MIEG remains an experimental statistical product and is currently not seasonally adjusted due to the limited historical data available.
As a result, the indicator presently focuses on annual growth comparisons rather than month-on-month analysis.
The Ghana Statistical Service said the next release of the Monthly Indicator of Economic Growth, which will cover March 2026 alongside Ghana’s first-quarter GDP estimates, is expected on June 10, 2026.
