Ghana’s economy grows 6% in Q2 2026 as growth slows

Ghana’s economy expanded by 6% in real terms in the second quarter of 2026, although the growth rate was slower than the 6.6% recorded during the same period in 2025.

The latest figures from the Ghana Statistical Service indicate that economic activity remained strong despite the moderation in the pace of expansion and a significant easing of price pressures.

Presenting the data, the Government Statistician, Dr. Alhassan Iddrisu, said the economy produced GH¢51.3 billion worth of goods and services in real terms during the quarter, compared with GH¢48.4 billion in the second quarter of 2025.

The slowdown was particularly evident in the non-oil economy, which grew by 5.4%, compared with 8.5% during the corresponding period last year.

Services continued to dominate economic activity, accounting for 45.9% of GDP and contributing 57.6% of total economic growth. However, growth in the sector eased from 9.5% in Q2 2025 to 8%.

Industry and Agriculture
Industry, which accounted for 33.1% of GDP, recorded growth of 4.3%, an improvement from the 2.4% recorded a year earlier. The oil and gas subsector provided the main boost, with industry contributing 23.5% of overall economic growth.

Agriculture, which represents 21% of the economy, expanded by 3.9%, significantly below the 7.1% recorded in the second quarter of 2025. The sector contributed 13.3% to total growth.

Price Pressures Ease
One of the major positive developments in the latest GDP figures was the sharp reduction in economy-wide price pressures.

The GDP deflator declined from 18.6% in Q2 2025 to 5.5% in Q2 2026, representing a 13.1 percentage-point reduction.

Dr. Iddrisu said the combination of continued economic growth and significantly lower price pressures represented an important development for both households and businesses.

Meanwhile, the Information and Communication Technology (ICT) sector recorded a strong 30.9% growth, signalling increasing momentum in Ghana’s digital economy.

The fishing sector, however, contracted by 24.7%, raising concerns about its impact on fishing communities and food security.

Overall, the Q2 2026 figures point to an economy that continues to expand at a relatively strong pace, although growth has moderated compared with a year earlier.

The significant improvement in price conditions, alongside continued economic expansion, remains one of the most notable features of Ghana’s latest GDP performance.