Ghana Economy Maintains Solid Growth in Q2

Ghana's economy grew by 6% year-on-year in Q2 2026, slowing modestly from 6.4% in Q1 but continuing to expand at a robust pace. Services remained the economy’s biggest growth engine, advancing 8%, supported by a 30.9% surge in information, communication and technology activity. Industry grew by 4.3%, with oil and gas providing the main boost. Meanwhile, agriculture expanded by 3.9%. Government Statistician Dr. Alhassan Iddrisu also highlighted the sharp moderation in economy-wide price pressures as a key positive development.

The economy of Ghana expanded by 6.4% year-on-year in Q1 2026, faster than 5.8% in the previous three-month period and marking the strongest performance since Q2 2025. The upturn was largely supported by non-oil activity, particularly services, which increased 7.1% and accounted for 48.3% of total GDP growth. Within the sector, information & communication posted the strongest rise at 25.2%, alongside advances in transport & storage (13%) and trade and repair of vehicles and household goods (9%), while accommodation & food services declined 13.6%. At the same time, the industrial sector grew by 6.9%, bolstered by mining & quarrying (10.7%), oil and gas (7%); manufacturing and electricity (both 6.2%). Meanwhile, the agricultural sector rose by 4%, mainly on the back of forestry and logging (9%) and crops (4.7%), of which cocoa (3.8%). On a seasonally adjusted quarterly basis, the GDP rose by 1.6%.

The economy of Ghana advanced by 5.8% year-on-year in Q4 2025, following a 5.5% rise in the previous period, largely supported by non-oil activities (7.1%). Services (8.6%) remained the backbone of the economy, accounting for more than 50% of GDP expansion. Key contributors included information and communication, transport and storage, education, and financial and insurance services. At the same time, agricultural activity showed stronger performance, advancing 5.3%, on higher crop production. The key sub-sector cocoa rose by 3%. Meanwhile, the industrial sector rose by only 1.9%, with gains in manufacturing and electricity being outweighed by a significant decline in oil and gas production. Considering the full year of 2025, the GDP grew by 6%, marking the fastest expansion since 2019, after an upwardly revised 5.8% rise in 2024.