Ghana economy grows 6% despite slower Q2 expansion

Ghana’s economy grew by 6% in the second quarter of 2026, according to the latest GDP data released by the Ghana Statistical Service. Presenting the data, Government Statistician Dr. Alhassan Iddrisu says the economy produced GH¢51.3 billion worth of goods and services in real terms, up from GH¢48.4 billion in the second quarter of 2025. The slowdown was more pronounced in the non-oil economy, which expanded by 5.4%, down from 8.5% a year earlier. Services remained the main engine of growth, accounting for 45.9% of GDP and contributing 57.6% of total growth despite easing from 9.5% to 8%. Industry, which represents 33.1% of GDP, grew by 4.3%, up from 2.4%, with oil and gas providing the main boost. The sector contributed 23.5% of overall growth. Agriculture, representing 21% of the economy, expanded by 3.9%, significantly below the 7.1% recorded a year earlier, contributing 13.3% of growth. A key positive development, however, was the sharp moderation in economy-wide price pressures. The GDP deflator fell from 18.6% in Q2 2025 to 5.5%, a 13.1 percentage-point decline. Dr Iddrisu says the combination of continued economic expansion and significantly calmer prices is a notable development for households and businesses. Meanwhile, the 30.9% surge in ICT signals growing momentum in Ghana’s digital economy, although the 24.7% contraction in fishing raises concerns for fishing communities and food security. Overall, the Q2 figures point to an economy that is still expanding strongly, but at a slower pace, with the sharp improvement in price conditions emerging as one of the most significant features of the latest GDP performance. Source: Citinewsroom