The Rwandan economy increased at 5,9%. The expected increase was 6%

The Ministry of finance and economic plan released is annual report on economic growth. The statistics show that the economy has globally increased at 5.9% while it was expected to increase at 6%.

The whole economy is worthy 6.618 billion $, the Ministry of economy revealed. The agriculture occupies not less than 30% of the whole economy while the service sector is the biggest contributor with 48%.

Industrial sector provided 17% for the whole economy.

Weaving industry contributed at 10% while factories provided at 7% while food processing increased by 8%.

Production of construction material  such as cement that is included under non-metallic minerals increased by 21%.

The construction sector continued to grow at by 5% following a very high growth of 15% in 2015.  The slowdown is due to the windup of some large construction projects early in 2016.

In the service sector, hotels and restaurants grew by 11% reflecting recent developments in conference tourism. Transport activities increased by 8% boosted by air transport that increased by 15%.

The Press release from the National Institute of Statistics of Rwanda reveals that some improvements were made. The revised series show that the services contributed 48% of total GDP in 2016.

 

UM– USEKE.RW