Ghana’s economy recorded a 7.4% growth in July 2026, a sharp rise from the 4.9% recorded in July last year.
The growth was powered by strong performance in the services sector and an improvement in industry, which made up for a major drop in agriculture.
Data from the Ghana Statistical Service’s Monthly Indicator of Economic Growth (MIEG) shows the economy is gaining speed.
The MIEG index climbed to 121.6 in July 2026 from 113.2 in July 2025, reflecting the 7.4% expansion.
Services posted a 12.2% growth, compared to 6.7% a year earlier, and contributed 63.8% of the total growth, cementing its position as the main driver of the economy.
Information and Communication was the best-performing sub-sector.
Industry also bounced back with 5.4% growth against 0.4% in July 2025, largely driven by mining and quarrying.
Agriculture, however, slowed significantly to 3.7% from 8.2% last year, despite gains in crops and livestock.
In short, while the economy is growing faster, it is heavily dependent on services, which accounted for almost two-thirds of the growth, leaving it vulnerable if that sector slows.
The Ghana Statistical Service says the focus should now be on maintaining services growth while boosting agriculture and broadening growth across other productive sectors.
