Rwanda's economy grew by 9.4% in 2019

Rwanda's Gross Domestic Product (GDP) grew by 9.4 percent in 2019 to reach Rwf9,105 billion, latest figures from the National Institute of Statistics of Rwanda (NISR) on Tuesday, March 23, show.

GDP is the total monetary value of goods and services produced within an economy over a specific period.

 

Key sectors for the economy in the year under review, according to NISR, were agriculture which contributed 24 per cent, industry which made 18 per cent, services which contributed 49 per cent, and net tax on products which generated 9 per cent.

 

Regarding sector growth, agriculture grew by 5 percent, industry 16 percent, while services rose by 8 percent.

 

In agriculture, food crop growth was 4 percent, while export crops growth was 5 percent mainly due to growth in coffee and tea that increased by 7 percent and 3 percent respectively.

In industry, growth was mainly boosted by construction and manufacturing which increased by 33 percent and 11 percent respectively.

The growth in services is due to an increase of 16 percent in wholesale and retail trade of locally made and imported products, 12 percent in transport services boosted mainly by 17 percent increase in air transport activities, 8 percent growth in financial services and 10 percent in hotel and restaurant services among others.

For mining, the quantity of exported cassiterite and wolfram decreased by 23.7 percent and 6.6 percent respectively, while that of Coltan increased by 42 percent.

entirenganya@newtimesrwanda.com

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