Ghana's industrial production increased by 3% in the second quarter of 2026 compared with the same period last year, although output slipped from the level recorded during the first three months of the year.
The Index of Industrial Production fell by 0.5% from the first quarter, reversing the 2.9% quarterly expansion recorded at the start of 2026, according to the Ghana Statistical Service.
The headline index stood at 105.1, down from 105.6 in the first quarter but above the 102.1 recorded a year earlier.
Put simply, Ghana’s mines, factories, utilities and waste operations produced more than they did in the second quarter of 2025, but slightly less than they produced three months earlier.
The figures are provisional. The quarterly data are also not adjusted for seasonal changes, meaning the decline should not automatically be read as the beginning of an industrial downturn.
Still, the loss of momentum was not limited to one part of the economy.
Manufacturing carries annual growth
Manufacturing output grew by 5.8% from a year earlier and contributed 2.4 percentage points to the overall 3% industrial expansion.
That was a sizeable contribution from a sector representing about 41% of the index. Mining and quarrying, which holds a larger weight of roughly 53%, contributed only 0.7 percentage points after growing by 1.3%.
Manufacturing nevertheless declined by 0.4% from the first quarter. Its index eased from 117.0 to 116.6, although it remained comfortably above the 110.2 recorded in the second quarter of 2025.
Pharmaceutical products posted the fastest annual manufacturing growth at 14.7%. Fabricated metal products expanded by 13.5%, while machinery repair and installation rose by 13.1%.
Electrical equipment recorded quarterly growth of 17.9%, with basic metals rising by 14.9%. Those are promising areas for an economy trying to build stronger links between manufacturing, construction, mining and energy.
Food production drops sharply
The bright spots did not spread evenly across factories.
Food products, the largest manufacturing category measured, grew by 5.5% annually but fell by 18.9% from the first quarter. Its index dropped from 129.3 to 104.8.
The data do not explain whether the fall resulted from seasonal patterns, weaker demand, input shortages or inventory changes. What they show is that a steep decline in the largest manufacturing category helped pull total factory output backwards despite growth elsewhere.
Rubber and plastic products contracted both annually and quarterly. Textiles grew from a year earlier but declined by 6% from the preceding quarter.
Electricity records sharper decline
Mining and quarrying slipped by 0.4% during the quarter. Petroleum and natural gas extraction grew, but weaker metal ore production held the wider sector back.
Electricity and gas output fell by 3.6% from the first quarter and grew just 0.6% annually. That weakness carries significance beyond the power industry because reliable electricity is an essential input for factories, mines and processing businesses.
Water supply, sewerage and waste management was the only major industrial division to expand during the quarter, rising by 6.7%. Yet it remained 1.9% below its level a year earlier.
The sector’s index of 67.4 was also far below the 2021 reference level of 100, showing that the quarterly rebound came from a weak base.
The Ghana Statistical Service captured the mixed picture neatly: “Manufacturing led annual production growth, while total output fell quarter on quarter.”
Ghana’s industrial engine is still running. The second quarter shows it is not yet accelerating consistently.
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