GDP grew by 4% in the second quarter 2017

On 25 September 2017 at 01:11

The National Institute of Statistics of Rwanda (NISR) has released information indicating that the 2017 Rwanda’s Gross Domestic Product (GDP) Quarter 2 has grown by 4% with agriculture growing by 6% while the service sector grew by 7%.

Industry and manufacturing grew by 6% boosted by agro-processing and production of chemicals, rubber and plastics.

Wholesale and retail trade decreased by 6% due to overall reduction of imported products on the market.

Finance Minister, Claver Gatete said that they expect Q3 and Q4 to perform well due to the booming construction activities and an encouraging agricultural season B.

“Drivers of growth will be services, agriculture and changing landscape of industry sector driven by Made-in-Rwanda” he said.

Industry sector demonstrated slow growth of 1% due to 4% decrease in construction works compared to Q2 last year.

According to NISR, 6% growth in Agriculture is attributed to good harvest in season A that grew by 4% and 22% increase in export crop performance.

“In Q2 GDP at current market prices was estimated at Rwf1,869 billion up from Rwf1,636 billion in Q2 of 2016,” said NISR Director General Yussuf Murangwa.
In service sector, hotels and restaurants grew by 9% while administrative and support services increased by 21%.

Good harvests of tea (28% growth) and coffee (8%) significantly contributed to the growth of exports.

NISR Director General Yussuf Murangwa.