Rwanda’s gross domestic product (GDP) grew 10 percent in the third quarter of 2022 compared to the previous period, driven by a rebound in industrial activity, the National Institute of Statistics announced on Monday.
This growth indicates Rwanda’s economy continues to recover despite persistent global economic shocks, Economy Growth Recovery, the institute said.
In the third quarter of 2022, GDP at current market prices was estimated at Frw 3,583 billion, up from Frw 2,758 billion in the same quarter of 2021, it said.
Data show that in this quarter, services contributed 47 percent of GDP, Agriculture contributed 24 percent of GDP, Industry contributed 21 percent of GDP and 8 percent was attributed to adjustment for taxes and subsidies on products.
Within agriculture, the production of food crops decreased by 1 percent and the production of export crops decreased by 1 percent.
In industry, the overall production decreased by 1 percent and contributed negative 0.2 percentage points to overall GDP growth. The decrease of industrial activities is mainly due to a drop of 17% in construction activities.
CU/abj/APA