Rwanda’s economy recorded a 7.8 percent growth in the first quarter of 2025, with GDP at current market prices estimated at Rwf5,255 billion, up from Rwf4,486 billion in the same period last year. This is according to the latest figures released on Friday, June 20, by the Ministry of Finance and Economic Planning (MINECOFIN) and the National Institute of Statistics of Rwanda (NISR). ALSO READ: Rwanda's economy remains strong, says IMF According to the breakdown, the services sector remained the largest contributor to GDP at 46 percent, followed by agriculture at 24 percent, and industry at 23 percent. “We have seen in the last couple of years a decent growth in the ICT sector, particularly from the increasing uptake of mobile services, but also the uptake of the internet in both urban and rural areas. The intention is to build on this momentum to achieve even more,” said Ivan Muenzi, the Director General of the National Institute of Statistics Rwanda (NISR). Net direct taxes contributed 7 percent to the total GDP. The services sector posted the highest growth rate at 9 percent, contributing 4.7 percentage points to the overall GDP increase. Murenzi explained that key drivers included wholesale and retail trade (14 percent), public administration (14 percent), and information and communication services, which surged by 19 percent. ALSO READ: Proposed tax changes set to rake in Rwf300bn annually Industry also grew by 9 percent, contributing 1.7 percentage points to GDP growth. In the first quarter, construction also posted a strong performance of 13 percent, with manufacturing contributing seven percent to the growth. ALSO READ: What you need to know about Rwanda’s new tax reforms By and large, Murenzi maintained that manufacturing growth was led by double-digit increases in metal products, nonmetallic minerals, chemicals, and paper-related products. However, mining and quarrying activities declined by 3 percent, while textile, clothing, and leather manufacturing fell by 4 percent. “When it comes to mining, we are looking at the international demand, which fluctuates periodically. We have also seen a shift where industry players opt to consolidate before processing their minerals, which causes fluctuation on the market.” Reacting to the drop in textiles, Murenzi pointed out that there is a looming decrease in the turnover posted for individual players, without giving further details. The agriculture sector grew by 2 percent, contributing just 0.4 percentage points to GDP growth, while food crop production declined by 1 percent. Export crop production, however, rose by 3 percent.
