MINECOFIN

MINISTRY OF FINANCE AND ECONOMIC PLANNING

REPUBLIC OF RWANDA

Economy grew by 8.4% in first Quarter of 2019

Posted on 18.06.2019

Kigali, June 17, 2019: Rwanda economy registered 8.4% growth in the first quarter of 2019 according to figures released by the National Institute of Statistics of Rwanda yesterday.

In the first quarter services sector grew by 8% and contributed 48% of GDP, agriculture sector grew by 4% and contributed 28% of the GDP, and industry sector grew by 18% contributing 17% of GDP. 7% was attributed to adjustment for taxes and subsidies on products.

The Minister of State in charge of Economic Planning Dr. Claudine Uwera, said that the economy was expected to sustain the positive growth rate.

 “In general, the performance is good and we project a sustained trend,” she said.

According to the quarterly report, the 4% growth of the agriculture sector was a result of medium harvest from season A of 2019. 

Export crops decreased by 9% mainly due to the decrease of 7% in the production of tea and a decrease of 19% in production of other cash crops, including flowers, pyrethrum & sugar cane, however production of coffee increased by 2%.

Industry growth was 18% and the main contributor was construction activities which grew by 30%. Mining & quarrying activities increased by 12%, while manufacturing grew by 8%. The growth in the mining sector is due to a 20% increase in quarrying activities. Made in Rwanda program has significantly contributed to the manufacturing sector. For example, there has been a 15% increase in textiles clothes and leather goods, 38% increase in wood, paper and printing. Furthermore, the production of construction materials such as metallic products grew by 11%, while non-metallic mineral products such as cement increased by 21%.

The service sector grew by 8% and was mainly boosted by: wholesale and retail trade which increased by 7%, Transport which grew by 11% boosted by Air transport which increased by 21%. 

Ivan Murenzi, Deputy Director General of NISR, noted that while the first quarter growth was impressive, it was still early to make a conclusive remark on the whole economy because there are three other quarters to be covered.

“So far 8.4% is a good start and is a good growth by all standards,” Murenzi said.


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