Economic activity in Ghana expanded strongly in February 2026, with the country recording a 7.7 percent growth rate compared to the same period last year, according to the latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service.
The report showed that the MIEG index increased to 111.3 in February 2026 from 103.3 in February 2025, reflecting stronger performance across key sectors of the economy.
Presenting the figures at a press briefing, Government Statistician Alhassan Iddrisu said the latest data signals improving market conditions and growing confidence in Ghana’s economic recovery.
The MIEG serves as an early indicator of Ghana’s quarterly Gross Domestic Product growth trends and measures monthly changes in economic performance.
Services and Industry Drive Growth
According to the report, the services sector remained the largest contributor to overall economic growth, accounting for 47.6 percent of the total expansion recorded in February 2026.
Industry followed closely with a contribution of 44.2 percent, while agriculture accounted for 5.5 percent. Net indirect taxes contributed the remaining 2.7 percent.
The industry sector recorded the strongest growth rate among the three major sectors, expanding by 9.6 percent compared to February 2025.
The performance marked a sharp improvement from the 2.8 percent growth recorded during the same period last year. The GSS attributed the strong industrial growth mainly to increased activities in mining and quarrying, manufacturing, and electricity production.
The services sector also posted robust growth of 7.4 percent, up from 4.4 percent in February 2025. Growth in the sector was largely supported by activities within information and communication, finance and insurance, health, and trade subsectors.
While overall economic performance improved, the agriculture sector recorded slower growth compared to the previous year.
Agriculture expanded by 3.8 percent in February 2026, lower than the 9.4 percent growth achieved during the same period in 2025.
According to the GSS, the sector’s performance was driven mainly by activities in crops, livestock, forestry, and logging.Despite the slower pace, agriculture continued to contribute positively to overall economic activity.
January Estimates Revised
The report also announced revisions to the January 2026 MIEG estimates following the incorporation of updated data from several state institutions, including the Ghana Revenue Authority, Fisheries Commission, Controller and Accountant-General’s Department, and the Volta River Authority.
The January growth figure was revised downward from the provisional estimate of 7.5 percent to 6.1 percent.
According to the GSS, the revisions affected several subsectors, including manufacturing, trade, fishing, electricity, public administration, health, and education.
While industry estimates for January were revised upward from 7.0 percent to 8.9 percent, services recorded the sharpest downward adjustment, dropping from 9.6 percent to 5.3 percent.
The statistical service explained that the MIEG remains an experimental indicator and is currently not seasonally adjusted due to limited historical data.
For that reason, the report currently focuses only on annual growth comparisons. The GSS said the next MIEG release, covering March 2026 alongside Ghana’s first quarter GDP estimates, is expected on June 10, 2026.
READ ALSO: Ghana Can Independently Operate Tarkwa Mine - Sophia Akuffo
