Ghana’s economy grows 6.0% in Q2 2026 on ICT, services and investment surge

Ghana’s economy grew by 6.0% in the second quarter of 2026, with the services sector, information and communication technology (ICT), transport and a sharp increase in investment emerging as key drivers of economic expansion.

Government Statistician, Dr. Alhassan Iddrisu, disclosed this when he presented the Ghana Statistical Service’s (GSS) 2026 Q2 Gross Domestic Product (GDP) Estimates and June 2026 Monthly Indicator of Economic Growth (MIEG) on Wednesday, September 9, 2026.

According to Dr. Iddrisu, although the economy maintained strong growth, the 6.0% expansion represented a moderation from the 6.6% recorded in the second quarter of 2025, a decline of 0.6 percentage points.

He said real GDP increased from GH¢48.4 billion in Q2 2025 to GH¢51.3 billion in Q2 2026, while nominal GDP rose from GH¢334.1 billion to GH¢372.1 billion, representing an 11.4% year-on-year increase.

Dr. Iddrisu said the services sector remained the biggest contributor to Ghana’s economic expansion, growing by 8.0% during the quarter.

The sector accounted for 57.6% of total GDP growth, although its growth rate was lower than the 9.5% recorded in Q2 2025.

Within services, the Information and Communication subsector recorded the strongest performance, expanding by 30.9%, compared with 21.3% a year earlier.

Dr. Iddrisu said ICT alone contributed 41.5% of overall GDP growth, making it the single largest driver of the economy’s performance in the quarter.

Transport and Storage also recorded significant growth of 14.9%, while trade expanded by 5.9%.

However, the Government Statistician noted that some services activities recorded contractions.

Accommodation and Food Services declined by 7.8%, while public administration and defence and education each contracted by 4.7%.

Real estate also recorded a 2.6% contraction.

Dr. Iddrisu said the industrial sector strengthened during the quarter, growing by 4.3%, compared with 2.4% in Q2 2025.

He attributed the improvement in part to a strong rebound in oil and gas production, which expanded by 22.4%, reversing a 29.0% contraction recorded in the same quarter of the previous year.

Manufacturing also recorded solid growth of 6.6%, while electricity expanded by 5.1%.

Mining and quarrying grew by 2.6%.

Overall, industry contributed 23.5% to GDP growth in Q2 2026.

Construction, however, slowed from 6.5% to 4.4%, while water and sewerage contracted by 0.6%.

Agriculture expanded by 3.9%, significantly lower than the 7.1% recorded in Q2 2025.

Dr. Iddrisu said the sector’s performance was weighed down by a sharp contraction in fishing, which declined by 24.7%.

Crops grew by 5.2%, livestock recorded 5.9% growth, while forestry and logging emerged as the fastest-growing agricultural subsector, expanding by 10.7%.

Investment jumps 53%

On the expenditure side, Dr. Iddrisu highlighted a significant surge in investment activity.

Gross capital formation, or investment, increased by 53.0% in Q2 2026, compared with 8.6% a year earlier.

Domestic demand also strengthened, growing by 11.2%, while gross domestic expenditure expanded by 6.0%.

However, consumption growth slowed sharply to 2.1%, compared with 11.4% in Q2 2025.

Exports grew by 14.2%, while imports increased by 29.9%, indicating stronger domestic demand for imported goods and services.

For the first half of 2026, Dr. Iddrisu said Ghana’s economy grew by 6.2%, marginally below the 6.4% recorded during the first half of 2025.

Services remained the largest contributor, accounting for 52.6% of H1 growth, while industry was the only major sector to record an acceleration.

Industry grew by 5.6% during the first half, compared with 3.3% in H1 2025.

Agriculture expanded by 3.9%, while services grew by 7.5%.

Non-oil GDP also remained positive but slowed to 5.9%, compared with 8.2% during the first half of 2025.

Dr. Iddrisu further reported that economic activity gained momentum in June, with the MIEG index reaching 116.7, representing a 6.5% increase over June 2025.

The monthly growth rate rose progressively from 5.5% in April to 6.0% in May and 6.5% in June.

Services led the June performance with 10.8% growth, followed by agriculture at 6.4% and industry at 4.7%.

Dr. Iddrisu said the latest figures point to an economy maintaining strong momentum, but with growth concentrated in selected sectors.

He identified ICT, transport, manufacturing, crops and productive services as areas that are generating significant momentum and could provide opportunities for businesses and investors.

At the same time, he noted the need for targeted interventions in sectors experiencing contractions, including fishing, accommodation and food services, real estate, education, public administration and water services.

The GSS has stressed that the ultimate measure of economic growth should extend beyond the headline GDP figure to whether expansion generates jobs, higher incomes, stronger services and improved living standards.

The Q2 performance therefore leaves Ghana with a 6.2% growth rate for the first half of 2026, underpinned by services, ICT, investment and an improving industrial sector, while weaknesses in agriculture and selected services remain areas requiring policy attention.

The attribution is now built around Dr. Alhassan Iddrisu’s presentation and analysis, rather than repeatedly attributing the figures generically to the GSS.

The latest independent reporting also confirms the 6.0% Q2 growth and the communications sector’s role as the leading driver.

Story by: Joshua Kwabena Smith