Rwanda has released its first-quarter report for 2018. And it shows an impressive 10.6% economic expansion.
The latest report puts Rwanda’s gross domestic product market price estimated at 2.3 billion dollars, from $2.1 billion dollars the year before.
The Director-General of the National Institute of Statistics of Rwanda, Yusuf Murangwa, said in the first quarter, Agriculture grew by 8%, registered services grew by 12% and industry grew by 7%.
He said agricultural sector growth was boosted by a good yield in food crops in Season A, at 6%, while exports grew by 46%.
A large part of the exports was from tea and coffee production.
Murangwa attributed industry growth to an increased 9% food processing, 8% growth in construction, 24% increase in textile, clothes and leather products. Rwanda also recorded a 28% increase in transportation, among others.
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The only decline was in the beverage and tobacco company, which decreased by 2%.
The minister of finance and economic planning, Dr Uzziel Ndagijimana, has assured that the government will continue to create a conducive environment for business.
Image Credit: ITDP