Rwanda Economy Grew 1.7 pct in Q1-Report

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Rwanda’s economy expanded by1.7 percent in the first quarter of 2017 and  GDP reached Frw 1,584 billion, up from Frw 1,557 billion in the same quarter of the previous year.

Statistics released by the National Institute of Statistics indicate good performance indicate that service sector contributed 46 percent of GDP, agriculture sector contributed 32 percent while Industrial sector contributed 15 percent of the GDP.

In Q1, 2017, agriculture increased by 3 percent, Food crops increased by 4 percent due to harvest of Season A of 2017.IRegarding emerging industry sector decreased by 1 percent. 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 decreased by 7 percent.

According to the report activities in service sector increased by 4 percent. The growth in Services was boosted by hotels and restaurant activities which increased by 17 percent, Real estate activities increased by 8 percent and administration and support services activities which increased by 25 percent. However, Wholesale & retail trade decreased by 12 percent.

The report pointed out that in Q1 of 2017, household final expenditure was estimated to be 75 percent of GDP, Government final consumption was 15 percent of GDP while Gross Capital Formation is estimated to be 25 percent of GDP.

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