Ghana’s economy expands 6.4% in Q1 2026 as services and industry drive growth
Ghana’s economy recorded a real GDP growth rate of 6.4 percent in the first quarter of 2026, up slightly from 6.2 percent in the same period last year, according to data released by the Ghana Statistical Service (GSS) on Wednesday, June 10, 2026.
The expansion was supported by easing inflationary pressures, with the GDP deflator dropping to 4.1 percent. Non oil GDP also posted strong growth of 6.3 percent, reflecting broad based resilience beyond the extractive sector.
Presenting the figures, Government Statistician Alhassan Iddrisu said the performance points to sustained momentum across key sectors of the economy.
Services sector remains main driver
The services sector maintained its position as the largest contributor to growth, expanding by 7.1 percent and accounting for 48.3 percent of overall GDP growth.
Within the sector, Information and Communication recorded the strongest performance, surging by 25.2 percent. Transport and Storage grew by 13.0 percent, while Trade and Repair of Vehicles and Household Goods increased by 9.0 percent.
However, Accommodation and Food Services contracted sharply by 13.6 percent, emerging as the weakest link within the services sector. Health and Social Work also recorded a slight contraction of 1.0 percent.
Industry rebounds on mining and oil recovery
The industrial sector grew by 6.9 percent, up from 4.1 percent in the first quarter of 2025, driven largely by strong recoveries in mining and oil production.
Mining and Quarrying expanded by 10.7 percent, compared to 2.7 percent a year earlier. Oil and Gas also rebounded strongly, growing by 7.0 percent after a contraction of 25.8 percent in the same period last year.
Manufacturing and Electricity both recorded growth of 6.2 percent each, while Water and Sewerage was the only subsector to contract, declining by 3.7 percent.
Agriculture slows despite pockets of growth
The agricultural sector grew by 4.0 percent, down from 6.6 percent in the first quarter of 2025.
Forestry and Logging rebounded strongly with 9.0 percent growth, while Crops, including cocoa, expanded by 4.7 percent. Cocoa production itself grew by 3.8 percent.
However, Fishing recorded a significant contraction of 18.5 percent, weighing heavily on the sector’s overall performance. Livestock grew modestly by 5.7 percent.
Quarterly and monthly trends show continued momentum
On a seasonally adjusted basis, real GDP grew by 1.6 percent compared to the fourth quarter of 2025, indicating sustained momentum into the second quarter.
The Monthly Indicator of Economic Growth (MIEG) also reflected steady expansion, recording year on year growth of 6.1 percent in January, 7.7 percent in February, and 5.4 percent in March. The index stood at 121.6 in March 2026, up from 115.4 a year earlier.
In March, services led monthly growth with 8.6 percent, followed by agriculture at 4.2 percent and industry at 2.2 percent.
Sector contributions and outlook
In nominal terms, services accounted for 45.7 percent of GDP, followed by industry at 32.9 percent and agriculture at 21.4 percent, with net indirect taxes making up the remainder.
The GSS said the broad based expansion reflects improved macroeconomic conditions, including lower inflation and relative currency stability.
It added that the results have important implications for policy. Businesses were encouraged to expand investment in high growth areas such as ICT, manufacturing, mining, trade, and transport, while households were urged to strengthen savings and productivity as conditions improve.
For government, the GSS recommended sustaining macroeconomic stability, addressing weaknesses in fishing, accommodation and food services, and water and sewerage, while accelerating infrastructure and digital transformation efforts.
The statistical agency stressed that the figures remain provisional and may be revised as additional data becomes available. The next GDP release will cover the second quarter of 2026.