Ghana’s economic activity grows 7.4% in July 2026, services lead

Ghana’s economic activity grew by 7.4% year-on-year in July 2026, compared with 4.9% recorded in the same month last year, driven largely by strong performance in the services sector.

The growth was reported in the Ghana Statistical Service’s Monthly Indicator of Economic Growth (MIEG), released on Thursday, October 15, 2026.

The MIEG index, which uses 2023 as its base year to measure changes in overall economic activity, increased from 113.2 in July 2025 to 121.6 in July 2026.

The services sector emerged as the biggest contributor to the expansion, recording growth of 12.2%, up from 6.7% a year earlier. Its contribution accounted for 63.8% of overall economic growth during the month.

Industry also recorded an improvement, with growth rising to 5.4% from 0.4% in July 2025. The sector contributed 20.5% to the overall growth rate.

Agriculture, however, experienced a slowdown, with growth falling to 3.7% from 8.2% in the corresponding period last year. Despite the decline, the sector contributed 14.1% to overall economic growth.

Net taxes accounted for the remaining 1.6% contribution to the overall growth rate.

The sectoral indices also showed increases in economic activity across the three main sectors between July 2025 and July 2026.

The services index rose from 114.5 to 128.5, while the industry index increased from 111.1 to 117.1 over the period.

Agriculture’s index also improved, moving from 109.6 in July 2025 to 113.7 in July 2026, despite the sector’s slower year-on-year growth rate.

The figures indicate that services remained the dominant driver of Ghana’s economic activity in July, while industry recorded stronger growth than a year earlier and agriculture experienced a moderation in its expansion.