Ghana’s Economy Hits 6% Growth as Q2 Expansion Slows

Ghana’s economy has recorded a solid 6% growth in the second quarter of 2026, even as the pace of expansion slowed compared with the same period last year.

The latest figures released by the Ghana Statistical Service (GSS) show that economic activity remained strong between April and June, although growth moderated from the 6.6% recorded in the corresponding quarter of 2025.

The development offers fresh signs of continued economic expansion, while also highlighting areas that could require renewed attention as Ghana seeks to sustain its recovery.

Economy Expands Despite Slowdown

According to the latest data, Ghana produced goods and services worth GH¢51.3 billion in real terms during the second quarter, up from GH¢48.4 billion during the same period in 2025.

However, the slowdown was more pronounced in the non-oil economy, which grew by 5.4%, compared with 8.5% a year earlier.

Services remained the biggest contributor to economic activity, accounting for 45.9% of GDP and contributing 57.6% of overall growth. The sector nevertheless slowed from 9.5% growth in Q2 2025 to 8% in the latest quarter.

ICT Emerges as Major Growth Driver

One of the standout performers was the information and communications technology sector.

The ICT sector recorded a remarkable 30.9% growth, highlighting the increasingly important role of Ghana’s digital economy in driving national economic activity.

The strong performance of the communications sector was also identified as a major driver of the overall Q2 expansion.

Industry Improves, Agriculture Slows

The industrial sector also posted improved performance, expanding by 4.3%, compared with 2.4% during the same period last year.

Oil and gas provided the main boost to industry, which accounted for 33.1% of GDP and contributed 23.5% of total economic growth.

Agriculture, however, recorded a more modest performance.

The sector grew by 3.9%, a significant slowdown from the 7.1% growth recorded in Q2 2025. Agriculture accounts for about 21% of Ghana’s economy and contributed 13.3% of total growth during the quarter.

Major Relief: Price Pressures Ease

Despite the slowdown in growth, the latest figures contain another significant positive development: economy-wide price pressures have eased sharply.

The GDP deflator fell from 18.6% in Q2 2025 to 5.5% in Q2 2026, representing a 13.1-percentage-point decline.

The combination of continued economic expansion and substantially lower price pressures provides an encouraging signal for households and businesses.

Ghana’s Economic Recovery Faces New Test

While the 6% growth figure demonstrates that Ghana’s economy continues to expand at a relatively strong pace, the slowdown compared with the previous year highlights the need to sustain momentum.

The performance of agriculture and the non-oil economy, in particular, could become important areas of focus as policymakers seek to broaden the sources of growth.

For now, however, the latest GDP figures provide a mixed but broadly positive picture: Ghana’s economy is still growing strongly, inflationary pressures have eased considerably, but the pace of expansion is beginning to moderate.

The challenge ahead will be to turn this growth into stronger job creation, higher household incomes and sustained improvements in living standards.