Rwanda’s economy grew by a significant 8.2% in 2023, which was even better than what experts had predicted at 6.2%. This growth was especially strong in the fourth quarter, where it reached 10%.

The National Institute of Statistics of Rwanda recently released figures showing that the growth of the economy was mainly driven by different sectors: services contributed 44%, agriculture 27%, industry 22%, and net indirect taxes made up 7%.

This impressive growth was mainly due to the rapid expansion of industries and services, which surpassed expectations. However, the agriculture sector didn't perform as well due to challenges like droughts and floods.

Although agriculture only grew by 2%, livestock farming did better, increasing by 7%. But there was a decrease of 4% in the production of export crops like tea and coffee.

The industry sector saw a growth of 10%, thanks to strong performances in manufacturing and construction, which grew by 11% and 12% respectively.

The service sector also did well, growing by 11%. Wholesale and retail trade increased by 9%, hotel and restaurant activities grew by 18%, ICT (Information and Communications Technology) saw a huge 35% growth, and transport increased by 13%, with air travel growing by 29% and land travel by 9%.

For more about economic growth in 2023 read https://www.statistics.gov.rw/publication/2114