Ghana’s economy expanded by 6.0% in real terms in the second quarter of 2026, maintaining a strong growth trajectory although the pace slowed compared with the 6.6% recorded during the same period in 2025.
The latest figures released by the Ghana Statistical Service (GSS) show that the economy produced GH¢51.3 billion worth of goods and services in real terms during the quarter, compared with GH¢48.4 billion in Q2 2025.
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Presenting the data, Government Statistician Dr Alhassan Iddrisu said the latest performance reflected continued economic expansion, alongside a significant moderation in price pressures.
Services remain key growth driver
The services sector remained the largest contributor to economic activity, accounting for 45.9% of GDP and contributing 57.6% of overall economic growth.
However, growth in the sector slowed to 8.0%, from 9.5% in the corresponding quarter of 2025.
The sector’s performance continues to underscore the dominant role of services in Ghana’s economy, despite the moderation in its growth rate.
Industry records stronger growth
The industrial sector, which accounted for 33.1% of GDP, recorded stronger growth during the quarter.
Industry expanded by 4.3%, compared with 2.4% in Q2 2025, contributing 23.5% of total economic growth.
The improvement was largely supported by the oil and gas subsector, which provided a significant boost to industrial activity.
Agriculture growth slows sharply
Agriculture, which accounted for 21% of GDP, grew by 3.9% in Q2 2026, significantly below the 7.1% recorded in the same period a year earlier.
The sector contributed 13.3% to overall GDP growth.
The sharp slowdown in agriculture contrasts with the stronger performance recorded in the previous year and could have implications for rural incomes, food supply and related economic activities.
Non-oil economy slows
Growth in the non-oil economy also moderated during the period.
The non-oil economy expanded by 5.4%, compared with 8.5% in Q2 2025, indicating a broad-based slowdown in activity outside the petroleum sector.
Despite the moderation, the overall economy continued to record positive growth during the quarter.
Price pressures ease significantly
One of the most notable developments in the latest GDP figures was the substantial decline in the economy-wide price level, as measured by the GDP deflator.
The GDP deflator fell from 18.6% in Q2 2025 to 5.5% in Q2 2026, representing a 13.1 percentage-point decline.
The development points to a significant easing of price pressures across the economy and provides a more favourable environment for households and businesses.
The latest figures also highlighted divergent performances across individual economic activities.
The Information and Communication Technology (ICT) sector recorded strong growth of 30.9%, underscoring the increasing contribution of the digital economy to national output.
However, the fishing subsector contracted by 24.7%, raising concerns about livelihoods in fishing communities and the sector’s contribution to food security.
Overall, the Q2 2026 GDP figures show that Ghana’s economy remains on a strong growth path, although the pace of expansion has moderated across several key sectors.
The significant easing of economy-wide price pressures, coupled with continued real economic growth, nevertheless provides a positive backdrop for businesses and households as the economy enters the second half of 2026.
