Ghana’s economy expands by 7.5% in January 2026, driven by services sector – GSS
Ghana’s economic activities recorded a year-on-year growth of 7.5 per cent in January 2026, according to the Monthly Indicator of Economic Growth released by the Ghana Statistical Service on April 8, 2026.
The MIEG index for January 2026 stood at 119.2, compared to 110.8 in January 2025, indicating sustained expansion across all three major sectors of the economy. The services sector recorded the strongest performance, growing by 9.6 per cent, followed by industry at 7.2 per cent and agriculture at 4.5 per cent.
The services sector was the main contributor to the overall growth, accounting for 54.3 per cent of the 7.5 per cent expansion. Industry contributed 29.0 per cent, while agriculture contributed 14.0 per cent.
"The MIEG index for January 2026 is 119.2. This compares to an index figure of 110.8 in January 2025. The yearly growth rate of the index is therefore 7.5 per cent," the statement read.
Sectoral performance
The services sector’s growth of 9.6 per cent was primarily driven by the education and information and communication sub-sectors, according to the Statistical Service.
Industry recorded a 7.2 per cent expansion, reflecting increased activity in mining and quarrying and manufacturing sub-sectors.
Agriculture grew by 4.5 per cent, driven by the crops and livestock sub-sector. The Statistical Service noted that agriculture is highly seasonal, which affects monthly fluctuations.
Slower pace compared to January 2025
While the economy continued to expand, the pace of growth moderated compared to January 2025, when the MIEG recorded an 8.2 per cent growth rate.
Agriculture’s performance declined from 9.3 per cent in January 2025 to 4.5 per cent in January 2026, reflecting a moderation in growth momentum. Industry also slowed from 9.7 per cent to 7.2 per cent, indicating a slowdown in oil and gas activities within the mining and quarrying sub-sector.
However, the services sector accelerated from 7.7 per cent in January 2025 to 9.6 per cent in January 2026, indicating an expansion in economic activity compared to the same period last year.
Methodology and revisions
The MIEG is a volume index that captures changes in economic activity on a monthly basis. It is published at an aggregate level for the whole economy, as well as for agriculture, industry and services. The index uses 2023 as its base year.
The Statistical Service noted that the January 2026 MIEG is provisional and subject to revision when more comprehensive and updated data becomes available. The MIEG is initially classified as an experimental statistic, meaning it will be subject to continuous improvement.
"The MIEG follows the same revisions policy as the quarterly and annual national accounts. This means that the indicator is open for revision for up to two years," the release stated.
The index is not seasonally adjusted, and as such, only annual changes are calculated. Month-on-month growth rates are not reported because they could be influenced by seasonality, such as public holidays.
The next MIEG release, for February 2026, is scheduled for May 13, 2026.