Ghana’s economy saw a significant boost this past February, growing by 7.7% compared to the same time last year.
According to the latest figures from the Ghana Statistical Service, the country is maintaining steady momentum, with the services and industrial sectors doing much of the heavy lifting.
The services sector alone grew by 7.4% and accounted for nearly half of the month’s total economic progress, fueled largely by a surge in the information and communication industries.
The industrial sector also turned in a powerhouse performance with a 9.6% jump, thanks mostly to increased work in mining and quarrying.
Meanwhile, the agriculture sector saw more steady growth at 3.8%, supported by crop and livestock production.
These combined gains pushed the country’s economic growth index to 111.3, up from 103.3 a year ago, signaling a resilient recovery.
Government Statistician Dr. Alhassan Iddrisu noted that these figures provide an early indication of improving economic conditions ahead of the country’s quarterly GDP release.
While the data suggests that business activity and investor confidence are on the rise, experts are still keeping a close eye on inflation, the stability of the exchange rate, and shifting global trends.
The Ghana Statistical Service calculates these monthly figures by tracking activity across major sectors and adjusting for price changes to give a clear picture of how the economy is actually performing.
