Rwanda economy grows by 1.7% in quarter one, services sector leads

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On 5 July 2017 saa 05:30
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Rwanda’s gross domestic product (GDP) grew by 1.7 percent in the first quarter of 2017 compared with the same period in 2016, the National Institute of Statistics Rwanda has revealed in a report released today. The report indicates an estimated GDP growth of Rwf1,817 billion at current market prices; i.e 1.7 % up from Rwf 1,557 billion in the same quarter of the previous year.

The services sector which grew by 4% accounted for 46 percent of GDP, while agriculture which grew by 3% contributed 32 percent of the GDP, the equivalent of Rwf 578 billion. The industrial sector contributed 15 percent.

The growth in the services sector, NISR has said, is attributed to the growth in hotels and restaurants which grew by 17%, real estate which grew by 8%, administrative and support activities which grew by 25%.

Within industry, manufacturing activities increased by 7 percent boosted by food processing activities which increased by 13 percent and manufacturing of chemicals, rubber and plastic activities which grew by 28 percent. Construction activities declined by 7 percent.

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The Director General of he National Institute of Statistics of Rwanda (NISR), Yusuf Murangwa