Ghana's economic activity expanded by 7.7% in February 2026, according to the Ghana Statistical Service (GSS). This growth nearly doubles the 3.9% expansion observed in the same period last year.
Stronger performances in the industry and services sectors drove this significant increase. These sectors signaled improving momentum within the Ghanaian economy. The services sector contributed 47.6% to the overall 7.7% growth, making it the biggest driver. Industry followed closely, contributing 44.2%. Agriculture grew by 3.8%, a significant slowdown from 9.4% in February 2025.
This robust economic expansion fits into Ghana's broader efforts to achieve steady economic growth. The latest Monthly Indicator of Economic Growth (MIEG) from GSS shows a continuous upward trend. The MIEG index for February 2026 stood at 111.3, an increase from 103.3 in February 2025. This compares favorably to an index of 95.1 in February 2023. Such regular, high-frequency data releases help track economic health, providing early signals for policymakers.
The Ghana Statistical Service noted that the MIEG aligns closely with quarterly national accounts. It offers an early indication of Gross Domestic Product (GDP) growth trends. However, these figures remain provisional and subject to revision as more comprehensive data becomes available. The MIEG is still considered an experimental statistic and is not seasonally adjusted due to limited historical data.
The services sector's expansion was mainly driven by information and communication, finance and insurance, and health sub-sectors. Increased mining and quarrying and electricity sub-sectors fueled the industry sector's strong performance. Agriculture growth, though positive at 3.8%, showed moderation compared to the previous year. Crops, livestock, forestry, and logging activities supported this sector.
The GSS also reported a downward revision for January's MIEG estimate. The provisional 7.5% announced earlier is now 6.1% for January 2026. This revision followed updated data from institutions like the Ghana Revenue Authority. The services sector experienced the sharpest downward adjustment in January, from 9.6% to 5.3%. In contrast, industry saw its January growth revised upward from 7% to 8.9%. Agriculture’s January growth was slightly revised downward from 4.5% to 4%.
Despite January's revision, the February figures suggest Ghana's economy continues its upward trajectory. Investors and policymakers will watch closely for sustained growth in key sectors. Future revisions to these preliminary figures could impact economic sentiment and policy decisions. The continued performance of industry and services will be crucial for Ghana's economic outlook.