Economic activities in Ghana expanded significantly in February 2026, with the country recording a 7.7 percent growth rate, according to the latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service (GSS).
The report showed that the MIEG index rose to 111.3 in February 2026 from 103.3 in February 2025, reflecting stronger economic activity across major sectors of the economy.
The indicator serves as an early signal of Ghana’s quarterly GDP growth trends and tracks changes in economic performance on a monthly basis.
Presenting the figures at a press briefing on May 13, Government Statistician, Alhassan Iddrisu, said the latest data points to improved market performance and rising confidence in the Ghanaian economy compared to the same period last year.
According to the report, the services sector remained the largest contributor to overall economic growth, accounting for 47.6 percent of the total 7.7 percent expansion recorded in February 2026. Industry followed closely with a contribution of 44.2 percent, while agriculture contributed 5.5 percent. Net indirect taxes accounted for the remaining 2.7 percent.
The industry sector recorded the strongest growth among the three major sectors, expanding by 9.6 percent compared to February 2025. The growth was driven mainly by increased activities in mining and quarrying, manufacturing, and electricity production. The report noted that the sector’s performance marks a major improvement from the 2.8 percent growth recorded during the same period in 2025.
The services sector also posted robust growth of 7.4 percent, up from 4.4 percent in February 2025. The expansion was supported largely by activities in information and communication, finance and insurance, health, and trade subsectors.
Agriculture, however, recorded slower growth of 3.8 percent compared to the 9.4 percent growth achieved in February 2025. The GSS attributed the sector’s performance mainly to activities in crops, livestock, forestry and logging.
The report also highlighted revisions made to the January 2026 MIEG estimates. The January growth figure was revised downward from the provisional estimate of 7.5 percent to 6.1 percent after the incorporation of new data from the Ghana Revenue Authority, Fisheries Commission, Controller and Accountant-General’s Department, and the Volta River Authority.
According to the GSS, the revisions affected manufacturing, trade, fishing, electricity, public administration, health and education subsectors. While industry estimates were revised upward from 7.0 percent to 8.9 percent, services recorded the sharpest downward revision, dropping from 9.6 percent to 5.3 percent.
The GSS explained that the MIEG remains an experimental statistic and is currently not seasonally adjusted because the available time series is still limited. As a result, only annual growth comparisons are currently reported.
The statistical service says the next MIEG release, which will cover March 2026, is expected on June 10, 2026, alongside Ghana’s first quarter GDP estimates.
Source: myjoyonline.com
