Rwanda’s 2017 GDP increased at 1.7%

In the first quarter of 2017, GDP at the current market prices was estimated to be Frw 1. 817 billion, up to Frw 1.593 billion in the quarter of 2016. Services sector contributed at 46% of the GDP while agriculture sector contributed at 32 per cent of the GDP.

Statistical findings show that Rwandan economy has grown at the 1.7 percent in the Q1 of 2017

Industrial sector contributed at 15 per cent and seven per cent was attributed to adjustments for the taxes and subsidies on products.

In 2017 Q1 the National Institute of Statistics calculates that in 2014 prices show that the GDP wa 1.7 percent higher in real terms compared to the quarter of 2016.

In this quarter, agriculture increased by 3 percent and contributed 0.8 percentage points to the overall GDP growth rate. Food crops increased by 4 percent due to the harvest of Season A of 2017. Export crops decreased by 24 percent mainly due to the decrease in the production of coffee and tea.

Activities in the industry  sector decreased by 1 percent. 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.

Activities in services sector increased by 4 percent in Q1 of 2017. The mentioned growth mainly resulted from the hotel and restaurants activities which increased by 17 percent. Real estate activities increased by 8 percent and administration and support activities which increased by 25 per cent.

However wholesale and retail trade decreased by 12 percent.

Expenditure GDP 

In Q1 of 2017, household final expenditure was estimated to be 75 percent of GDP, government final consumption was 15 percent of the GDP while Gross Capital Formation is estimated to be 25 percent of GDP .

The NISR boss Yussuf Murangwa presenting the first findings to the media. Besides him is the Minister of Finance Amb Claver Gatete

Amb Claver Gatete said that the Rwandan economy keeps increasing in its Q1

UMUSEKE.RW

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