Ghana’s economy recorded a provisional growth rate of 6.4 per cent in the first quarter of 2026, driven largely by strong performance in the services and mining sectors, the Ghana Statistical Service (GSS) has announced.
This represents a slight increase from the 6.2 per cent growth recorded during the same period last year.
Excluding oil, the economy grew by 6.3 per cent, compared with 8.0 per cent in the first quarter of 2025.
In value terms, the country’s Gross Domestic Product (GDP) for the first quarter of 2026 stood at GH¢57.4 billion, up from GH¢53.9 billion recorded in the corresponding period last year.
Without oil, the value of real GDP growth was estimated at GH¢55.3 billion, compared with GH¢52.0 billion in the same period in 2025.
The Government Statistician, Dr Alhassan Iddrisu, who announced the figures in Accra yesterday, said the growth recorded during the period was broad-based across key sectors of the economy.
He explained that the services sector grew by 7.1 per cent and remained the largest contributor to growth, driven significantly by the Information and Communication Technology (ICT) sub-sector, which expanded by 25.2 per cent.
According to him, the services sector accounted for 48.3 per cent of the total GDP growth in the first quarter of 2026.
Dr Iddrisu said trade, repair of vehicles and household goods grew by 9.0 per cent, while transport and storage recorded a growth of 13.0 per cent.
However, accommodation and food services contracted by 13.6 per cent, weighing down the sector’s overall performance.
He further stated that the mining and quarrying sector grew by 10.7 per cent during the period under review, a significant turnaround from the 1.5 per cent contraction recorded in the same quarter last year.
The oil and gas sector also posted a growth of 7.0 per cent in the first quarter of 2026.
On agriculture, Dr Iddrisu said the sector expanded by 4.0 per cent, supported by growth in forestry and logging, which increased by 9.0 per cent, and crop production, which grew by 4.7 per cent.
However, he noted that the fishing sub-sector continued to struggle, contracting by 18.5 per cent and dragging down overall agricultural growth.
The industrial sector, he said, recorded a strong growth of 6.9 per cent, compared with 4.1 per cent in the same period last year.
Providing further insights, Dr Iddrisu said seasonally adjusted real GDP rose by 1.6 per cent quarter-on-quarter, indicating sustained economic momentum.
Touching on the Monthly Indicator of Economic Growth (MIEG), he said the economy expanded consistently over the quarter, recording growth rates of 6.1 per cent in January, 7.7 per cent in February and 5.4 per cent in March.
Dr Iddrisu advised households to rebuild savings and investments as economic growth strengthens and inflationary pressures ease.
He also urged businesses to take advantage of improving macroeconomic stability to increase production, drive innovation and create employment.
For government, he called for the continuation of policies that promote macroeconomic stability and private sector growth, as well as accelerated investment in infrastructure and digital transformation.
BY KINGSLEY ASARE
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