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Rwanda GDP increases by 10.6 pct in Q1 of 2018

Source: Xinhua   2018-06-19 02:39:14

KIGALI, June 18 (Xinhua) -- Rwanda's economy grew by 10.6 percent in the first quarter of 2018, attributable to increased agricultural, services and industrial growth, according to National Institute of Statistics of Rwanda (NISR).

The growth was driven by good performance of the agriculture sector which contributed 8 percent, industry sector 7 percent and services sector which contributed 12 percent, according to NISR statistics released on Monday.

Rwanda's economic environment in the first quarter of 2018 was stable, with economic growth for the year remaining in the target range, said director general NISR Yusuf Murangwa shortly after releasing the figures.

"We expect continued positive growth in the whole of 2018, most especially in agriculture exports like coffee and tea, mining, services, construction and manufacturing sectors," he added.

According to NISR, the industrial sector expanded due to an increase in construction, which grew by 8 percent.

Made-in-Rwanda products also experienced a higher growth as textiles, leather products and clothes increased by 24 percent, according to NISR.

Low performance was recorded in production of beverages and tobacco products which decreased by 2 percent, the figures showed.

The growth rate is Rwanda's second consecutive double-digit quarterly growth, following the 10.5-percent growth in the fourth quarter of 2017, said Uzziel Ndagijimana, Rwandan Minister of Finance and Economic Planning.

Rwanda's economy remains strong, he said, projecting a positive outlook for the country's economy in 2018.

Editor: yan
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Rwanda GDP increases by 10.6 pct in Q1 of 2018

Source: Xinhua 2018-06-19 02:39:14

KIGALI, June 18 (Xinhua) -- Rwanda's economy grew by 10.6 percent in the first quarter of 2018, attributable to increased agricultural, services and industrial growth, according to National Institute of Statistics of Rwanda (NISR).

The growth was driven by good performance of the agriculture sector which contributed 8 percent, industry sector 7 percent and services sector which contributed 12 percent, according to NISR statistics released on Monday.

Rwanda's economic environment in the first quarter of 2018 was stable, with economic growth for the year remaining in the target range, said director general NISR Yusuf Murangwa shortly after releasing the figures.

"We expect continued positive growth in the whole of 2018, most especially in agriculture exports like coffee and tea, mining, services, construction and manufacturing sectors," he added.

According to NISR, the industrial sector expanded due to an increase in construction, which grew by 8 percent.

Made-in-Rwanda products also experienced a higher growth as textiles, leather products and clothes increased by 24 percent, according to NISR.

Low performance was recorded in production of beverages and tobacco products which decreased by 2 percent, the figures showed.

The growth rate is Rwanda's second consecutive double-digit quarterly growth, following the 10.5-percent growth in the fourth quarter of 2017, said Uzziel Ndagijimana, Rwandan Minister of Finance and Economic Planning.

Rwanda's economy remains strong, he said, projecting a positive outlook for the country's economy in 2018.

[Editor: huaxia]
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