Ghana’s economic activity increased by 6.8% in August 2026 compared with the same month a year earlier, with the services sector responsible for almost 70% of the expansion, according to the Ghana Statistical Service (GSS).
The provisional Monthly Indicator of Economic Growth (MIEG), published on Wednesday, November 11, recorded an overall activity index of 115.4. That compares with 108.0 in August 2025.
Presenting the figures in a recorded briefing, Government Statistician Dr Alhassan Iddrisu said services had been the main source of the increase.
“Of all the extra economic activity Ghana produced this August, compared with August last year, almost seven out of every 10 parts came from one sector: services,” he said.
Services lead sector performance
Services grew by 10.7% year-on-year in August 2026, accelerating from 7.1% in August 2025. Information and communication were the main contributors.
The sector accounted for 69.9% of total economic growth, equivalent to 4.8 percentage points.
Industry recorded growth of 4.5%, a significant rise from 0.8% in August 2025. Manufacturing led the sector’s performance, with additional support from mining and quarrying. Industry contributed 21.2% of overall growth, or 1.4 percentage points.
Agriculture expanded by 2.6%, down from 8.6% in August 2025 and 3.7% in July 2026. Crops and livestock were the leading activities within the sector.
Agriculture contributed 6.8% of total growth, representing 0.5 percentage points, while net indirect taxes accounted for 2.1%, or 0.1 percentage point.
The release came amid a debate this week involving economist Dr Frank Bannor, who cited GSS data as evidence that market traders were unable to move their stock. He questioned Finance Minister Dr Cassiel Ato Forson’s explanation of trade and GDP growth.
What the MIEG shows
The MIEG differs from quarterly Gross Domestic Product (GDP), which measures the country’s total output every three months. It is a provisional experimental index based on monthly volume indicators and administrative records.
The index is adjusted for inflation using Consumer Price Index and Producer Price Index data.
“Think of the MIEG as a monthly health check on our economy. It tells us whether Ghana produced more or less than in the same month a year earlier after removing the effect of price changes,” Dr Iddrisu said.
The GSS revised its estimate for July 2026 down to 7.0% from 7.4% after receiving more complete data.
Growth across July and August averaged 6.9%, providing an early indication of third-quarter performance. Both the MIEG and quarterly GDP recorded growth of 6.0% in the second quarter.
The August results were published ahead of Thursday’s presentation of the 2027 Budget and the US$10 billion New Economy programme.
GSS is due to publish the September MIEG on December 9, followed by third-quarter GDP in the second week of December.
