Ghana’s Economy Grows by 6.4% in Q1 of 2026

Ghana’s economy maintained its growth momentum in the first quarter of 2026, expanding by 6.4 percent compared to the same period last year, according to the latest Gross Domestic Product (GDP) estimates released by the Ghana Statistical Service (GSS).

The growth rate represents a slight improvement over the 6.2 percent recorded in the first quarter of 2025 and reflects broad-based expansion across key sectors of the economy.

The data further showed that the non-oil economy grew by 6.3 percent during the period, highlighting the resilience of domestic economic activity despite continued global economic uncertainties.

Services Sector Leads Growth

The Services sector remained the largest contributor to economic growth, recording an expansion of 7.1 percent and accounting for 48.3 percent of total GDP growth.

Growth within the sector was driven primarily by strong performance in Information and Communication, which expanded by an impressive 25.2 percent. Other major contributors included Transport and Storage, which grew by 13.0 percent, and Trade, which recorded growth of 9.0 percent.

The strong performance of these sectors reflects increasing digitalization, rising commercial activity and improvements in logistics and transportation services across the country.

Industry Records Strong Recovery

The Industry sector also posted significant gains, growing by 6.9 percent in the first quarter of 2026 compared to 4.1 percent during the same period in 2025.

The sector’s performance was largely driven by Mining and Quarrying, which expanded by 10.7 percent, supported by increased mineral production and export activity.

The Oil and Gas sector also returned to growth, recording a 7.0 percent expansion and contributing positively to overall industrial output.

Analysts say the rebound in industry highlights renewed activity in Ghana’s extractive sector and reflects improving production levels across key industries.

Agriculture Maintains Positive Growth

The Agriculture sector grew by 4.0 percent during the quarter, supported mainly by strong performances in Forestry and Logging, which expanded by 9.0 percent, and Crop Production, which grew by 4.7 percent.

However, the sector’s overall performance was affected by a significant contraction in the Fishing sub-sector, which declined by 18.5 percent.

The decline in fisheries continues to raise concerns about sustainability challenges, environmental pressures and productivity constraints within the industry.

Economic Momentum Remains Strong

On a seasonally adjusted basis, real GDP increased by 1.6 percent quarter-on-quarter, indicating sustained economic momentum at the start of the year.

Additional evidence of continued expansion came from the Monthly Index of Economic Growth (MIEG), which recorded growth rates of 6.1 percent in January, 7.7 percent in February and 5.4 percent in March.

The figures suggest that economic activity remained relatively strong throughout the quarter despite fluctuations in individual sectors.

Fastest and Weakest Performing Sectors

The fastest-growing sub-sectors in the first quarter of 2026 were:

• Information and Communication – 25.2%
• Transport and Storage – 13.0%
• Mining and Quarrying – 10.7%
• Trade and Repair of Vehicles – 9.0%
• Forestry and Logging – 9.0%

Meanwhile, the weakest-performing sub-sectors included:

• Fishing – -18.5%
• Accommodation and Food Services – -13.6%
• Water Supply, Sewerage and Waste Management – -3.7%
• Real Estate Activities – -3.2%
• Human Health and Social Work Activities – -1.0%

According to the GSS, the strongest drivers of growth during the quarter were Information and Communication, Mining and Quarrying, Trade, Crop Production, and Transport and Storage.

Outlook

The latest GDP figures reinforce expectations that Ghana’s economic recovery remains firmly on track. Strong performances in services, mining, trade and transportation continue to support growth, while the resilience of the non-oil economy suggests broader economic expansion beyond the extractive sector.

However, challenges remain in areas such as fisheries, hospitality, real estate and some social service sectors, highlighting the need for targeted interventions to ensure more balanced and inclusive growth.

With growth remaining above six percent and key sectors showing sustained momentum, the first-quarter performance provides a positive signal for the broader economy as government pursues its fiscal consolidation and economic transformation agenda in 2026.