In 2024, GDP at current market prices was estimated at Frw 18,785 billion, up from Frw 16,626 billion in 2023. Services contributed 48 percent to GDP, agriculture contributed 25% while industry contributed 21%. The remainder 7% was attributed to taxes less subsidies on products.
In 2024, GDP grew by 8.9%. This is a result of a continuous growth through the year where GDP grew by 9.7% in the first quarter, 9.8% in the second quarter, 8.1% in the third quarter and 8% in the fourth quarter. Growth in sectors were as follows:
- Agriculture increased by 5%.
- Industry increased by 10%
- Services increased by 10%.
TABLE: Gross Domestic product by Kind of Activity (in billion Rwf)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | ||
| GDP | 9,308 | 9,594 | 10,953 | 13,720 | 16,626 | 18,785 | |
| AGRICULTURE, FORESTRY & FISHING | 2,193 | 2,549 | 2,636 | 3,414 | 4,425 | 4,618 | |
| Food crops | 1,245 | 1,502 | 1,448 | 1,879 | 2,728 | 2,628 | |
| Export crops | 115 | 126 | 133 | 209 | 199 | 258 | |
| Livestock & livestock products | 254 | 312 | 361 | 457 | 561 | 701 | |
| Forestry | 545 | 578 | 653 | 815 | 879 | 957 | |
| INDUSTRY | 1,756 | 1,795 | 2,240 | 2,918 | 3,442 | 3,939 | |
| Construction | 700 | 680 | 761 | 1,045 | 1,360 | 1,635 | |
| SERVICES | 4,570 | 4,470 | 5,219 | 6,375 | 7,601 | 8,933 | |
| TRADE &TRANSPORT | 1,410 | 1,397 | 1,711 | 2,238 | 2,662 | 3,566 | |
| Maintenance & repair of motor vehicles | 50 | 56 | 68 | 77 | 82 | 92 | |
| Wholesale & retail trade | 789 | 796 | 1,040 | 1,355 | 1,731 | 2,350 | |
| Transport | 571 | 545 | 602 | 806 | 850 | 1,124 | |
| OTHER SERVICES | 3,160 | 3,074 | 3,508 | 4,138 | 4,938 | 5,366 | |
| Hotels & restaurants | 172 | 92 | 106 | 189 | 174 | 266 | |
| Information & communication | 185 | 194 | 215 | 201 | 251 | 292 | |
| Financial services | 225 | 220 | 281 | 369 | 389 | 350 | |
| Real estate activities | 648 | 644 | 683 | 712 | 816 | 805 | |
| Professional, scientific & technical activities | 204 | 219 | 249 | 287 | 343 | 368 | |
| Administrative & support service activities | 313 | 314 | 334 | 386 | 454 | 509 | |
| Public administration & defence; compulsory social security | 524 | 562 | 590 | 720 | 882 | 1,032 | |
| Education | 258 | 166 | 325 | 494 | 708 | 746 | |
| Human health & social work activities | 154 | 182 | 190 | 181 | 151 | 163 | |
| Cultural, domestic & other services | 478 | 482 | 533 | 599 | 769 | 838 | |
Agriculture
The overall performance of agriculture sector was 5%. Within agriculture, food crops production increased by 5% due to the good harvest of both agricultural seasons. Season A increased harvest increased by 8% while season B harvest grew by 2%. The export crops production decreased by 1%.
Industry
The overall growth of industry was 10%. Within industry, mining and quarrying increased by 12%, construction activities increased by 12%, while manufacturing activities increased by 7%. The growth in manufacturing was boosted by a 20% increase in manufacturing of metal products, machinery & equipment, a 15% increase in manufacturing of non-metallic mineral products, 15% increase in manufacturing of chemicals, rubber & plastic products, 10% increase in manufacturing of textiles, clothing & leather and a 2% increase in food processing.
Services
The overall growth of the services sector was 10%. Within services, wholesale and retail trade increased by 18%; transport activities increased by 9%. Among other services, hotels and restaurants grew by 11%, information & communication services increased by 25%, financial services increased by 7%, Public administration services increased by 10%, Education services increased by 5%, and health services increased by 15%.