In the first quarter of 2020, GDP at current market prices was estimated at Frw 2,452 billion, up from Frw 2,152 billion in Q1 of 2019. Services continue to lead in terms of shares to GDP with 48% compared to 25% and 19% shares for agriculture and industry respectively.
Overall GDP growth was 3.6%. Agriculture growth was -1%, Industry growth was 2% while Services growth was 6%.
Agriculture - Within agriculture, food crops production decreased by 2% due to long rains and flooding that affected vegetables, rice, beans, roots and tubers. Maize and bananas were not affected. Furthermore, export crops decreased by 16% mainly due to a 38% decrease in coffee production. Tea production however, increased by 21%.
Industry - In industry, manufacturing and construction activities grew by 6% and 5% respectively. Food processing increased by 11%, chemicals production of soaps and other cleaning products increased by 5%. On the other hand, Mining and quarrying decreased by 26% due to the reduction of cassiterite and colombo-tantalite by 45% and 19% respectively. Non-metallic minerals including cement production decreased by 6%.
Services - Information and communication increased by 34% boosted by an increase of both calls and internet consumption. Human health activities increased by 32% boosted by government spending on medical supplies. However, financial services decreased by 5% mainly due to forex services that decreased by 45% while education decreased by 4%.
The first quarter experienced a significant slow down in the economy compared to the momentum that had been built in 2019 due to COVID-19. We expect the second quarter to be the most affected by the pandemic after which the economy will start to recover in the third and fourth quarters.
For more details, visit www.statistics.gov.rw
Done at Kigali, 20th June 2020