Ghana’s economic growth accelerated to 6.8 per cent in August 2026, up from 5.3 per cent recorded during the same period in 2025, according to the latest data released by the Ghana Statistical Service (GSS).
The improvement in economic performance was largely driven by strong growth in the services sector, particularly information and communication activities, the GSS has disclosed in its latest Monthly Indicator of Economic Growth (MIEG) report.
The report, published on Wednesday, showed that Ghana’s overall economic activity index increased from 108.0 in August 2025 to 115.4 in August 2026, indicating an improvement in business and economic activities across the country.
Services Sector Drives Ghana’s Economic Growth
The services sector emerged as the biggest contributor to Ghana’s economic expansion, recording a year-on-year growth rate of 10.7 per cent in August 2026, compared with 7.1 per cent in the corresponding month of the previous year.
According to the GSS, the sector accounted for 69.9 per cent of total economic growth during the period, with the information and communication subsector playing a significant role in driving its performance.
The strong performance highlights the increasing contribution of service-related businesses and digital economic activities to Ghana’s economic development.
Industrial Sector Records Strong Improvement
Ghana’s industrial sector also experienced significant growth, expanding by 4.5 per cent in August 2026, compared with the 0.8 per cent growth recorded in August 2025.
The manufacturing subsector was the primary driver of industrial growth, while mining and quarrying activities provided additional support.
The industrial sector contributed 21.2 per cent to overall economic growth, reflecting improved performance across key production and industrial activities.
Agriculture Sector Growth Slows to 2.6%
Unlike the services and industrial sectors, agriculture recorded a slowdown in growth during the period under review.
The sector expanded by 2.6 per cent in August 2026, compared with 8.6 per cent recorded in August 2025.
The GSS attributed the sector’s performance mainly to activities in crop production and livestock farming.
Agriculture contributed 6.8 per cent to Ghana’s overall economic growth, while net taxes on products accounted for the remaining 2.1 per cent.
GSS Explains Monthly Economic Growth Indicator
The Ghana Statistical Service explained that the Monthly Indicator of Economic Growth (MIEG) provides a monthly assessment of changes in economic activities across the country.
The indicator serves as an early signal of Ghana’s economic performance ahead of the publication of quarterly Gross Domestic Product (GDP) figures.
It is compiled using monthly production and volume indicators, as well as administrative records covering economic activities captured in the country’s quarterly GDP system.
The data are also adjusted for inflation using monthly Consumer Price Index (CPI) and Producer Price Index (PPI) figures to provide a more accurate assessment of economic activity.
GSS Revises July 2026 Economic Growth Figures
The Statistical Service further clarified that the MIEG remains an experimental statistical measure that is continuously reviewed and improved as additional and more comprehensive information becomes available.
As part of its latest revisions, the GSS adjusted Ghana’s July 2026 economic growth rate from the previously reported 7.4 per cent to 7.0 per cent.
The Service noted that the August 2026 figures are provisional and may be revised when more complete data become available.
The next MIEG report, covering economic activity for September 2026, is scheduled for release on December 9, 2026.
The latest figures provide an indication of Ghana’s economic performance, with the services sector continuing to play a dominant role in supporting economic growth, alongside improvements in manufacturing and mining activities.
Source: newsthemegh.com