Rwanda’s GDP up by 8.6pc

Rwanda’s real Gross Domestic Product (GDP) increased to 8.6 per cent in 2011, up from 7.2 per cent in 2010, according to latest figures released by the National Institute of Statistics of Rwanda (NISR).The primary sector contributed 1.6 per centage points, secondary sector 2.4 per centage points while tertiary sector contributed 4.1 per centage points, the statistics said.The primary sector is the sector of an economy making direct use of natural resources. This includes agriculture, forestry and fishing, mining, and extraction of oil and gas. The secondary sector has to do with manufacturing and other processed goods, while the tertiary sector is about producing services. For the year 2011, GDP at current prices was estimated to be Rwf3.8 billion ($6.4 million), up from Rwf3.2 billion ($5.5million) in the year 2010.In 2011, 46 per cent of GDP was generated by the tertiary sector compared to 32 per cent by the primary sector. The remainder or 16 per cent was attributed to the secondary sector and 6 per cent as adjustment.“Agriculture grew by 5 per cent in 2011 as a result of growth of 5 per cent in “food crops” and 3 per cent “exports crops”,” NISR said.The industry sector grew by 18 per cent in 2011, whereas mineral products grew by 50 per cent last year, compared to a slump of 11 per cent in 2010.“Manufacturing grew by 8 per cent, food processing 4 per cent, beverages and tobacco grew by 7 per cent,” the figures indicate.However, electricity, gas and water remained unchanged at 15, construction grew by 24 per cent in 2011, following an increase of 9 per cent in 2010.The tertiary sector grew by 9 per cent in 2011 as a result of growth of 5 per cent “Transport, storage, communication.“ Finances and insurance grew by 20 per cent in 2011, following an increase of 24 per cent in 2010. Private final consumption expenditure was 83 per cent and the government final consumption expenditure was 15 per cent of GDP in 2011. In 2011, imports are provisionally estimated to have increased by 20 per cent at constant prices. These figures imply an increase of 7 per cent in private final consumption expenditure. Exports grew by 48 per cent, following an increase of 6 per cent in 2010. Rwanda’s inflation increased to 8.34 per cent in December 2011 from 7.4 per cent in November 2011, driven by an increase in the cost of housing, water, electricity, gas and other fuels.However, according to recent statistics from NISR, Rwanda’s inflation for the month of February increased to 7.85 per cent from 7.81 per cent the previous month.

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Rwanda’s GDP up by 8.6pc