Ghana’s economy grows 7.7% in February, driven by services and industry

Ghana’s economy expanded by 7.7% year-on-year in February 2026, driven largely by strong performance in the services and industrial sectors, according to new data from the Ghana Statistical Service.

The latest Monthly Indicator of Economic Growth (MIEG) shows continued momentum in economic activity, with services emerging as the leading contributor to overall growth.

The services sector grew by 7.4% during the period, accounting for 47.6% of total economic expansion, supported mainly by increased activity in the information and communication sub-sector.

Industry recorded even stronger growth of 9.6% year-on-year, largely on the back of expansion in mining and quarrying, while agriculture posted more moderate growth of 3.8%, driven by crops and livestock production.

The MIEG index rose to 111.3 in February 2026, up from 103.3 in the same month last year, reflecting what officials describe as sustained recovery and resilience in the economy.

Government Statistician Alhassan Iddrisu said the figures provide an early signal of improving economic conditions ahead of the country’s official quarterly GDP release.

“The indicator offers a timely snapshot of economic performance across key sectors,” he noted.

The Ghana Statistical Service explained that the MIEG tracks changes in economic activity across agriculture, industry and services using high-frequency data and administrative records, adjusted for inflation.

Analysts say the strong performance in services and industry may point to improving business activity and investor confidence, although concerns remain around inflation, exchange rate pressures and global economic uncertainties.

The February data adds to signs of a gradual economic recovery, with policymakers expected to monitor whether the growth momentum can be sustained in the coming months.