Ghana’s economy recorded a strong expansion in February 2026, with the country’s Monthly Indicator of Economic Growth (MEG) showing a 7.7 percent year-on-year growth, compared to 3.9 percent recorded in February 2025, the Ghana Statistical Service has announced.
Addressing journalists on Wednesday, Government Statistician, Samuel Kobina Annim, said the latest figures point to improving business activity, stronger production levels and growing confidence across major sectors of the economy.
According to the GSS, the MEG index increased to 111.3 in February 2026 from 103.3 in the corresponding period last year, indicating that economic activity continued to strengthen in the first quarter of the year.
“The key message is clear. Ghana’s economy continued to expand in February 2026, with industry and services driving much of the growth, while agriculture maintained moderate expansion,” the Government Statistician stated.
Before presenting the February figures, the GSS announced a revision to the January 2026 growth estimate. The provisional growth rate of 7.5 percent released earlier has now been revised downward to 6.1 percent following updated data submissions from institutions including the Ghana Revenue Authority, the Fisheries Commission, the Comptroller and Accountant General’s Department, and the Volta River Authority.
The revised data affected activities in manufacturing, trade, fishing, electricity, public administration, health and education.
The Government Statistician explained that such revisions are part of international statistical best practice aimed at ensuring greater accuracy and reliability in national economic reporting.
A sectoral breakdown of the February performance showed that industry recorded the highest growth rate at 9.6 percent, a significant improvement from the 2.8 percent growth recorded during the same period in 2025.
The industrial sector’s performance was largely driven by increased activity in mining and quarrying, manufacturing and electricity production.
The services sector also posted strong growth of 7.4 percent, up from 4.4 percent in February 2025. The expansion was supported mainly by information and communication, finance and insurance, trade, and health services.
Agriculture, however, recorded slower growth at 3.8 percent compared to 9.4 percent in February last year. Despite the slowdown, the sector continued to benefit from crop production, livestock and forestry activities.
In terms of contribution to overall economic growth, services accounted for nearly 48 percent of total growth recorded in February 2026, while industry contributed about 44 percent. Agriculture contributed approximately 6 percent.
The GSS noted that the latest MEG figures provide an early indication that Ghana’s economy is maintaining positive momentum ahead of the release of the official first quarter 2026 Gross Domestic Product estimates in June.
The Service reaffirmed its commitment to producing timely, accurate and credible national statistics to support evidence-based policy decisions and national development planning.
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