This was as a result of a strong growth in services and a recovery in industry which offset a sharp slowdown in agriculture.
The latest Monthly Indicator of Economic Growth (MIEG), released by the Ghana Statistical Service (GSS), points to stronger economic momentum.
However, the sectoral breakdown shows an economy increasingly reliant on services, while agriculture’s slower performance highlights an area requiring policy attention.
The MIEG index rose to 121.6 in July 2026 from 113.2 a year earlier, signalling the 7.4% annual expansion in economic activity.
Services expanded by 12.2% year-on-year, up from 6.7% in July 2025.
It accounted for 63.8% of the growth recorded during the period, reinforcing the sector’s central role in Ghana’s economic performance.
The information and communication sub-sector led the expansion.
Industry also recorded a significant recovery by growing 5.4%, compared with 0.4% a year earlier, with mining and quarrying providing the main impetus.
Agriculture, however, lost momentum. The sector expanded by 3.7%, down from 8.2% in July 2025, with crops and livestock leading.
Simply, Ghana’s economy is expanding at a faster pace, supported by robust services growth and an industrial recovery.
But with services accounting for nearly two-thirds of the increase in economic activity, the concentration of growth in one sector leaves the broader expansion exposed if momentum weakens.
The priority according to the Ghana Statistical Service is for policymakers to sustain services growth while strengthening agriculture and widening the contribution of productive sectors.
Leave a Comment
No comments yet. Be the first to comment!