Rwanda’s growth rate slowed to 7.7 per cent in three months to Sept 2018

The East African - - MARKETS -

Rwanda’s eco­nomic growth de­cel­er­ated to 7.7 per cent dur­ing the three months to Septem­ber 30, 2018, from eight per cent in the same pe­riod in 2017, ac­cord­ing to data by the Rwanda Na­tional Bureau of Statis­tics. In the third quar­ter of 2018, GDP at cur­rent mar­ket prices was es­ti­mated at Rwf2.06 tril­lion ($2.29 bil­lion), up from Rwf1.92 tril­lion ($2.14 bil­lion) in the same pe­riod in 2017. In­dus­try con­trib­uted 17 per cent of the GDP and seven per cent was at­trib­uted to ad­just­ment for taxes and sub­si­dies on prod­ucts. Ac­cord­ing to the re­port, Rwanda’s ser­vices sec­tor grew by seven per cent dur­ing the three months to Septem­ber 30, boosted by trade, trans­port, fi­nan­cial ser­vices, in­for­ma­tion and com­mu­ni­ca­tion. Agri­cul­ture grew by five per cent, in­dus­try grew by 12 per cent, while ex­ports of goods and ser­vices de­clined by four per cent.

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