In 2023, GDP at current market prices was estimated at Frw 16,355 billion, the services sector accounted for 44% of the GDP, the agriculture sector contributed 27%, and the industry sector contributed 22% while Net indirect taxes accounted for 7%. In this year, o the annual average GDP growth of 8.2%.
In 2023, the economy continued to grow throughout the year. GDP growth was 9.2 percent in the first quarter, 6.3 percent in the second quarter, 7.5 percent in the third quarter and 10 percent in the fourth quarter. This led to the annual average growth of 8.2 percent.
Agriculture
The overall performance of agriculture was 2 percent. Within agriculture, Food crops production remained stables, 0 percent growth, mainly due to low agriculture production season A 2023. Export crops decreased by 4% due to a low production in tea and coffee.
Industry
The overall growth of industry was 10%. This growth is attributed to good performance of manufacturing and construction activities which grew by 11 percent and 12 percent respectively. The growth in manufacturing was boosted by an increase of 14 percent increase in food processing activities; 20 percent increase in Textiles, clothing & leather goods; 21 percent increase in chemicals rubber & plastic products and 19 percent increase in wood, paper, and printing.
Services
The overall growth in service sector was 11 percent. Wholesale and retail trade activities increased
by 9 percent, Hotels and restaurants increased by 18 percent, Transport activities increased by 13 percent, Information and communication increased by 35 percent. On the other hand, public administration services increased by 11 percent, education services increased by 18 percent while human health activities decreased by 1 percent.