Services drive 7.4% expansion in Ghana’s economic activity

Ghana’s economic activity expanded by 7.4% year-on-year in July 2026, up from 4.9% in the same period last year, driven by strong growth in services and a recovery in industry. The latest Monthly Indicator of Economic Growth (MIEG), released by the Ghana Statistical Service (GSS), shows that the index rose to 121.6 in July from 113.2 a year earlier. Services remained the main driver of the expansion, growing by 12.2% year-on-year, compared with 6.7% in July 2025.

The sector accounted for 63.8% of the growth recorded during the period, with information and communication leading the expansion. Industry also recorded a recovery, growing by 5.4% compared with 0.4% in July last year. Mining and quarrying provided the main impetus for the sector’s improved performance.

Agriculture, however, slowed, expanding by 3.7% in July, down from 8.2% a year earlier. Crops and livestock were the main contributors to the sector’s growth. The figures point to stronger overall economic activity, but also highlight differences in performance across the three main sectors.

While services continue to drive expansion, the slowdown in agriculture raises questions about how to sustain growth across the wider economy. The GSS data highlights the importance of maintaining momentum in services while strengthening agriculture and broadening the contribution of other productive sectors to economic growth. Data published by the Ghana Statistical Service (GSS) shows that the country recorded a year-on-year economic growth of 7.4 percent in July 2026 compared to the same period last year.

This was contained in the latest Monthly Indicator of Economic Growth (MIEG) released by the GSS. Sector by sector, the data shows that Agriculture increased by 3.7 percent. The Industry sector recorded an increase of 5.4 percent.

The increase was attributed to the growth observed in the mining and quarrying sub-sector. The Services sector grew by 12.2 percent. The expansion in activity was mainly driven by Information & Communication sub-sector.