Economy Governance News

Rwandan Economy Grew by 12.2% – Report

Despite the WTO’s new Services Trade Barometer, launched on 16 September which reported that, the index’s reading of 98.4 is below the baseline value of 100, suggesting that services trade continued to face strong headwinds leading into the second half of the year.

WTO Services Trade Barometer, 2019.

According to National Institute of Statistics of Rwanda, some economic progress of some sectors of economy of Rwanda, it grew by 6.7 per cent over the same period last year, while it grew by 8.4 per cent in Quarter one (Jan-March) of 2019. The National Institute of Statistics of Rwanda also noted that, service sector grew by 12 per cent thanks to a 23 per cent increase in wholesale and retail trade activities of locally made and imported products despite the loss of momentum in global trade. Also, the report further expantiate that the Rwanda transport sector registered a 17 per cent growth between April and June this year.

In early month of August this year, the World bank has confirms Rwanda’s poverty reduction rate after news reports claimed the statistics about Rwanda’s poverty reduction had been tampered with.

Recently, Rwanda President Paul Kagame told the RPF members that Rwanda’s economy has been growing progressively, highlighting that in the last year, an 8.5 percent economic growth was registered driven by agriculture and industry, among others.

“In some cases, this means that the growth only benefited a few people, but in our case, this resulted from the contribution of the majority and it benefited the majority,” he said.

The Rwandan economy grew by 12.2 per cent from April to June this year largely driven by services, agriculture and industry. Services such as trade, transport, finance as well as professional and technical activities, were the main drivers of growth in the second quarter of the year, the National Institute of Statistics of Rwanda has said.

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