Ghana’s economy expanded by 7.7 percent in February 2026. The Ghana Statistical Service (GSS) released this data on May 13, 2026. This growth rate shows a strong increase in economic activity.
The Monthly Indicator of Economic Growth (MIEG) index rose to 111.3 in February 2026. This is up from 103.3 in February 2025. This rise signals improved market performance. It also suggests growing confidence in Ghana’s economy. Government Statistician Alhassan Iddrisu presented these findings. The MIEG acts as an early sign of quarterly GDP growth. It tracks economic performance month by month.
This economic expansion fits into Ghana’s ongoing development story. The nation aims for consistent growth to improve living standards. In recent years, Ghana has focused on diversifying its economy. This includes boosting manufacturing and services alongside traditional exports like cocoa. The MIEG provides a timely snapshot of these efforts. Its readings help policymakers adjust economic strategies.
The services sector was the largest driver of this growth. It contributed 47.6 percent of the 7.7 percent expansion. Industry followed with a 44.2 percent contribution. Agriculture added 5.5 percent. Net indirect taxes made up the remaining 2.7 percent. According to the GSS report, the industry sector grew by 9.6 percent. This is a significant jump from 2.8 percent in February 2025. Services also grew well, up to 7.4 percent from 4.4 percent.
The industry sector's impressive growth stemmed from increased mining and quarrying. Manufacturing and electricity production also played key roles. The services sector saw its expansion boosted by information and communication. Finance, insurance, health, and trade subsectors were also strong. However, agriculture’s growth slowed to 3.8 percent. This is down from 9.4 percent growth in February 2025. Crop and livestock activities, along with forestry, influenced this slower pace.
The report also detailed revisions to January 2026 MIEG estimates. The January growth figure was revised down to 6.1 percent. This change followed new data from the Ghana Revenue Authority. Information from the Fisheries Commission also affected it. The Controller and Accountant-General’s Department contributed data. The Volta River Authority’s figures were also included. These revisions impacted several subsectors, including manufacturing and trade. Services saw a sharp downward revision from 9.6 percent to 5.3 percent.
The GSS noted that the MIEG is an experimental statistic. It is not yet seasonally adjusted. This means comparisons are mainly annual. The next MIEG release is scheduled for June 10, 2026. It will include data for March 2026. Ghana's first quarter GDP estimates will be released at the same time. These upcoming figures will provide a more complete picture of economic performance for the first three months of 2026.
The robust growth in industry and services suggests a healthy business environment. Policymakers will closely watch these trends. They will monitor if this momentum continues into the first quarter. The slowdown in agriculture is a point of concern. It highlights the need for sustained support for the sector. Future policy decisions will likely consider these varied sector performances. Investors will be looking for continued economic stability and growth acceleration.