Taarifa Rwanda

Rwanda’s GDP Grows By 8.4%

In the first quarter of 2019, Rwanda’s GDP at current market prices was estimated to be Frw2,144 billion, up from Frw 1,987 billion in Q1 of 2018.

In this quarter, services sector contributed 48% of GDP while agriculture sector contributed 28% of the GDP.

Industry sector contributed 17% of the GDP and 7% was attributed to adjustment for taxes and subsidies on products.

In this quarter, agriculture sector grew by 4 percent and contributed 1.2 percentage points to the overall GDP growth rate.

The growth in agriculture is attributed to food crops which grew by 4 percent and livestock which grew by 14 percent, while export crops production decreased by 9 percent.

The growth of food crops is attributed to harvest of Season A of 2019 while the decrease in export crops is due to a decrease of 7% in production of tea and a decrease of 19% in production of other cash crops (incl. flowers, pyrethrum and sugar cane), however coffee increased by 2%.

The industry sector grew by 18 percent and contributed 2.9 percentage points to overall GDP growth.

The growth in industry sector was mainly attributed to growth of 30% and 8% in construction and manufacturing activities respectively.

Mining & quarrying activities increased by 12% boosted by quarrying activities which increased by 20%.

Within manufacturing, beverages and tobacco increased by 9%, wood and paper; printing by 38%, textiles clothes and leather goods by 15%.

In addition production of construction materials such as non-metallic mineral products increased by 21% and metallic products by 11%.

The statistics were revealed by the National Institute of Statistics of Rwanda (NISR) on Monday evening.

According to Ivan Murenzi, Deputy Director General of NISR, the added value for quater one has not been as much as it was in quarter one of 2018, but the economy still registered a positive growth.

“It is still early to make a conclusive remark on the whole economy because we still have three other quarters, but we can say 8.4 percent is a good start and is a good growth by all standards,” he told Taarifa at a press conference.

 

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