Ghana’s Economy Grows 5.1% in May 2026
By Praisebell Rosemond Larbi
Ghana’s economy expanded by 5.1 per cent in May 2026 compared with the same period last year, although the pace of growth moderated from the 6.6 per cent recorded in May 2025.
The latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service (GSS) shows that the economy continues to expand, with the Services sector remaining the strongest contributor to overall growth.
Presenting the report, Government Statistician, Dr Alhassan Iddrisu, said the latest figures point to continued economic expansion, albeit at a slower pace than a year earlier.
The Services sector recorded the strongest performance, growing by 7.2 per cent year-on-year in May 2026, compared with 7.5 per cent in May 2025.
The sector was largely supported by information and communication activities and accounted for 51 per cent of overall economic growth during the month, making it the dominant driver of economic activity.
Industry also maintained steady growth, expanding by 4.2 per cent in May 2026, slightly below the 4.6 per cent recorded in the corresponding period of 2025.
According to the GSS, the industrial sector’s performance was driven mainly by mining and quarrying, highlighting continued resilience within the sector.
Agriculture, however, recorded a sharper slowdown, growing by 3.6 per cent compared with 9.8 per cent in May 2025.
The GSS attributed the moderation partly to the exceptionally strong performance recorded by the sector in May last year. Growth in May 2026 was led mainly by crops and livestock.
In terms of contributions to overall growth, Industry accounted for 23.8 per cent, Agriculture 21.2 per cent and net taxes 4 per cent.
The GSS cautioned that the increasing concentration of economic growth in the Services sector could expose the economy to greater vulnerability if activity within the sector weakens.
It also warned that the slowdown in Agriculture could have implications for food prices, rural incomes and export earnings, underscoring the need for targeted interventions to strengthen the sector.
The Statistical Service urged the government, the Bank of Ghana and businesses to incorporate the monthly growth indicator into policy and investment decisions.
It recommended increased support for Agriculture through improved access to inputs, irrigation and storage infrastructure to strengthen productivity and ensure more balanced economic growth.
The Monthly Indicator of Economic Growth is an experimental high-frequency measure designed to provide an early indication of economic performance ahead of quarterly Gross Domestic Product data.
It is compiled using monthly information from the Agriculture, Industry and Services sectors in line with international national accounts standards.
