Ghana’s economy grew by 7.4% year-on-year in July 2026, up from 4.9% in July 2025, according to the latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service (GSS) on Thursday, October 15, 2026.
Government Statistician Dr Alhassan Iddrisu announced the figures at a press conference in Accra. The services sector was the main driver, expanding by 12.2% and accounting for 63.8% of the growth recorded in the month.
The MIEG index climbed to 121.6 in July 2026, compared with 113.2 a year earlier. Industry also recovered strongly, while agriculture continued to grow but at a slower pace than in 2025.
The new figure adds to a run of positive economic data this week, coming a day after the IMF raised Ghana’s 2026 growth forecast to 5.7%.
Ghana economic growth rises to 7.4% in July 2026
“7.4%: That’s how fast Ghana’s economy grew in July 2026, up from 4.9% a year earlier,” Dr Iddrisu said.
Put simply, every GH¢100 worth of output produced in July 2025 rose to about GH¢107.40 in July 2026, after adjusting for inflation.
Services sector growth leads Ghana’s economy
Services grew by 12.2% in July 2026, nearly double the 6.7% recorded in July 2025. The information and communication sub-sector led the expansion.
With a contribution of 63.8% to overall growth, services remain the backbone of Ghana’s economic activity.
Industry rebounds on mining and quarrying
Industry grew by 5.4%, a sharp recovery from the 0.4% growth recorded in July 2025. Mining and quarrying was the main driver of the rebound.
The sector contributed 20.5% of the total growth for the month.
Agriculture growth slows to 3.7%
Agriculture expanded by 3.7%, down from 8.2% a year earlier. Crops and livestock were the leading sub-sectors.
The GSS said the agric sector is still growing, but more slowly, and contributed 14.1% of overall growth.
How July 2026 growth compares with July 2025
- Overall economy: 7.4% (up from 4.9%)
- Services: 12.2% (up from 6.7%)
- Industry: 5.4% (up from 0.4%)
- Agriculture: 3.7% (down from 8.2%)
- MIEG index: 121.6 (up from 113.2)
Contribution to Ghana’s 7.4% growth
- Services: 63.8%
- Industry: 20.5%
- Agriculture: 14.1%
- Net indirect taxes: 1.6%
What the growth figures mean for businesses and households
Stronger growth points to rising activity across telecoms, digital services, mining and trade, which can support jobs and business revenues.
However, the heavy reliance on services means overall growth could be exposed if momentum in that sector weakens. Slower agricultural growth is also a concern for food supply and rural incomes.
The GSS has urged policymakers to sustain services growth, strengthen agriculture and broaden the contribution of productive sectors.
What happens next
Dr Iddrisu said the next MIEG release will be in the second week of November 2026. The full MIEG series, covering January 2023 to July 2026, is available free on the Ghana Statistical Service website and StatsBank.
Key details at a glance
- Ghana’s economy grew 7.4% year-on-year in July 2026.
- Growth was 4.9% in July 2025.
- Services grew 12.2%, led by information and communication.
- Industry grew 5.4%, driven by mining and quarrying.
- Agriculture slowed to 3.7% from 8.2%.
- The MIEG index rose to 121.6 from 113.2.
- Next release: second week of November 2026.
FAQs
How much did Ghana’s economy grow in July 2026?
Ghana’s economy grew by 7.4% year-on-year in July 2026, according to the Ghana Statistical Service’s Monthly Indicator of Economic Growth.
Which sector drove Ghana’s economic growth in July 2026?
The services sector led with 12.2% growth and contributed 63.8% of total growth, driven mainly by information and communication.
When is the next Ghana monthly economic growth data release?
The GSS says the next Monthly Indicator of Economic Growth will be released in the second week of November 2026.
Ghana’s economy expanded by 7.4% in July 2026, up from the 4.9% recorded a year earlier, powered by a 12.2% surge in services and a rebound in industry, even as agriculture slowed to 3.7%. The next update from the GSS is due in November.
