The National Institute of Statistics of Rwanda (NISR) has officially launched the Annual Gross Domestic Product (GDP) Report for 2024, revealing an impressive 8.9% economic growth. This strong performance growth was fueled by key sectors expanded, including services (10%), industry (10%), and agriculture (5%). The findings highlight Rwanda’s resilience and commitment to economic transformation, despite global economic challenges.
Key Drivers of Economic Growth
- Services Sector (10% Growth): The services industry remained the primary driver of GDP, bolstered by robust performance in trade, transport, financial services, information and communication, and tourism. Increased demand for digital services and innovation in financial technology contributed to this growth.
- Industry Sector (10% Growth): The industrial sector expanded due to a boom in construction, manufacturing, and mining. Infrastructure projects, including roads, energy, and housing developments, played a major role in sustaining this upward trajectory.
- Agriculture Sector (5% Growth): Increased agricultural productivity was driven by enhanced irrigation systems, improved seed varieties, and climate adaptation strategies. The growth in food crop production and cash crops, such as tea and coffee, boosted rural incomes and strengthened food security.
The Director General of NISR, Ivan MURENZI highlighted the significance of this growth, stating: "Rwanda’s GDP growth of 8.9% in 2024 reflects the country’s commitment to sustainable development. The strong performance in services, industry, and agriculture demonstrates the effectiveness of policies aimed at enhancing productivity, fostering innovation, and improving livelihoods. NISR remains committed to providing accurate and timely economic data to support decision-making and national development planning.”
The 2024 GDP report confirms Rwanda’s strong economic trajectory and strategic planning. NISR will continue to provide reliable economic data to guide decision-making, support national development, and future policy planning.
For more details, visit www.statistics.gov.rw.
By Andre MATESO
Public Relations and Communications Officer