Rwanda’s economy grew 8.1% in Q3
Rwanda’s economy grew 8.1% in the third quarter of 2024, lower compared to 9.8% in the second quarter, according to data released by the National Institute of Statistics of Rwanda (NISR) on Tuesday.
NISR said the latest figures showed strong economic growth with progress across key sectors.
Services contributed 49% to gross domestic product (GDP), agriculture contributed 24% while industry contributed 20%, the figures showed.
Agriculture increased by 4%, industry by 8% while services increased by 10%, according to the data.
Within agriculture, export crops production increased by 16%, mainly due to coffee production.
The industrial growth was attributed to mining and quarrying activities which grew by 26%, manufacturing activities, electricity which grew by 20% and construction activities.
In the services sector, growth was attributed to wholesale and retail trade, transport activities, hotel and restaurants, financial and telecommunication services.
In quarter three of 2024, GDP at current market prices was estimated at 4,806 billion Rwandan francs ($3.4 billion), up from 4,246 billion in the third quarter of 2023.
