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Rwanda's GDP grows 12.2 pct in Q2, 2019

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Kigali,Rwanda, September 17 (Infosplusgabon) - Rwanda's gross domestic product (GDP) expanded 12.2 percent year on year in the second quarter of 2019 to 2,255 Billion Frw (about 2,5 Billion USD), up from 2,001 Billion Frw (2,2 Billion USD) during the same period of 2018, the National Institute of Statistics (NIS) showed Monday.

 

In Q2 2019, Service sector contributed 47% of GDP, Agriculture 28%, Industry 17% while 8% was attributed to adjustment for taxes less subsides on products, the institute said.

 

Rwanda's economy expanded 12.2% percent in the second quarter of 2019, picking up the pace for the first time in several years.

 

Reports show that Agriculture growth was 5% and contributed 1.5 percentage points to overall GDP growth.

 

On agriculture, food crops production was 4% compared to 6% in the same quarter of 2018, it said.

 

Within Manufacturing, the production of construction materials such as metallic products increased by 43%, Non-metallic mineral products (Mainly cement) increased by 42%, and Chemicals and plastic products increased by 32% boosted.

 

This increase is attributed mainly to the production of paints, plastic construction materials and Soaps, the institute said.

 

The service sector grew by 12 percent and contributed 5.7 percentage points to overall GDP growth.

 

Official estimates indicate that the growth in Services sector is due to an increase of 23% in wholesale & retails trade activities of locally made and imported products, 17% in transport services, 13% in financial services, 13% in Hotel and restaurant services.

 

 

FIN/INFOSPLUSGABON/INI/GABON2019

 

 

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