Rwanda’s GDP up 9.4% based on 2017 benchmark

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Rwanda’s Gross Domestic Product (GDP) increased by 9.4% in 2019, according to figures released Monday by the National Institute of Statistics of Rwanda (NISR), based on estimates calculated using the 2017 benchmark.

The level of GDP is now at Rwf9,105 billion, the NISR figures showed.

Agriculture sector contributed 24%, industry contributed 18%, services contributed 49% while the remainder 9%, attributed to net tax on product.

According to NISR, agriculture sector grew by 5%, industry 16% while services grew by 8%.

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

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

In mining, cassiterite and wolfram decreased by 23.7% and 6.6% in the quantity exported respectively while coltan increased by 42%.

NISR attributed the growth in services to various factors.

These include an increase of 16% in wholesale and retails trade of locally made and imported products, 12% in transport services boosted mainly by 17% increase in air transport activities, 8% growth in financial services and 10% in hotel and restaurant services among others.

NISR has finalized new series that are based on the 2017 benchmark year, replacing old series based on 2014 benchmark.

The benchmark or rebasing consists of detailed re-analysis of all economic activities in the country, which helps to analyze economic structural changes that cannot easily be monitored on quarterly and annual basis.

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