Services sector lead GDP contributor in first quarter of 2017
Written by: Administrator
Wednesday, July 5th, 2017, 16:41
Rwanda’s Institute of Statistics has revealed that the service sector emerged the best performer accounting for 46 per cent of the Gross Domestic Product (GDP) in the first quarter of 2017.
The growth in services sector is mainly due to hotels and restaurant activities which increased by 17 per cent, real estate activities increased by eight per cent, administration and support services activities increased by 25 per cent.
The Agriculture sector contributed 32 per cent increasing by three per cent while the industrial sector pulled 15 per cent of the GDP and seven per cent was attributed to adjustment for taxes and subsidies on products.
The current market prices were estimated to be Rwf1, 817 billion, up from Rwf1, 593 billion in the same quarter of 2016.
However, the National Institute of Statistics of Rwanda said wholesale and retail trade decreased by 12 per cent.
Food crops increased by four per cent due to the harvest of season A of 2017 but export crops decreased by 24 per cent mainly due to the decrease in production of coffee and tea.
Even though activities in the industry sector decreased by one per cent, manufacturing activities increased by seven per cent boosted by food processing activities which increased by 13 per cent and manufacturing of chemicals, rubber and plastic activities which grew by 28 per cent.
In 2017 Q1, estimates calculated in 2014 prices show that GDP was 1.7 per cent higher in real terms compared to the same quarter of 2016.