Ghana’s economy expanded by 6.8 per cent year-on-year in August 2026, up from 5.3 per cent recorded in the same period last year.
The growth was driven largely by the services sector, which contributed 69.9 per cent of the overall expansion, while industry also recorded an improved performance.
The Government Statistician, Dr Alhassan Iddrisu, disclosed this in the latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service (GSS), which showed that the August performance was slightly below the 7.0 per cent recorded in July but above the 6.0 per cent growth registered in the second quarter of 2026.
He said the MIEG index, which measures changes in economic activity using 2023 as the base year, increased to 115.4 in August 2026 from 108.0 in August 2025, indicating an expansion in real economic activity.
Dr Iddrisu explained that the figures, which were provisional, showed that the economy continued to grow at a faster pace than a year earlier, with services and industry recording stronger performances, while agriculture experienced a moderation.
The Government Statistician mentioned that the services sector recorded the strongest growth of 10.7 per cent in August 2026, compared with 7.1 per cent in August 2025.
He attributed the sector’s performance largely to information and communication activities, which helped it contribute 4.8 percentage points, representing 69.9 per cent of the economy’s overall growth.
On industry, Dr Iddrisu said the sector expanded by 4.5 per cent, compared with 0.8 per cent in the corresponding period last year.
He clarified that the increase was largely driven by manufacturing, with additional support from the mining and quarrying subsectors.
Industry contributed 1.4 percentage points, equivalent to 21.2 per cent of total economic growth.
Agriculture, however, recorded a relatively slower expansion of 2.6 per cent, compared with 8.6 per cent in August 2025 and 3.7 per cent in July 2026, he disclosed.
Dr Iddrisu credited the growth in agriculture mainly to the crops subsector, adding that the sector contributed 0.5 percentage points, representing 6.8 per cent of overall growth.
He noted that the slowdown in agriculture pointed to the need for sustained efforts to improve productivity and strengthen the sector’s contribution to national economic growth.
Dr Iddrisu explained that the MIEG, when averaged over a quarter, corresponded with the published quarterly GDP growth rate. Read More
BY KINGSLEY ASARE
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