Rwanda closed 2024 on a high economic note, posting an 8.9 percent jump in GDP that pushed the economy to Frw18,785 billion. It is a performance that underlines the country’s ability to stay on its feet through global economic turbulence, according to new figures released by the National Institute of Statistics of Rwanda (NISR).
The services sector remained the powerhouse of the economy, contributing 48 percent of total GDP. Agriculture followed with 25 percent, industry contributed 21 percent, and net direct taxes made up the remaining 7 percent. Every quarter delivered solid growth, with the first half of the year performing above 9 percent and the final quarter closing at 8 percent.
Agriculture recorded a 5 percent rise overall. Strong harvests in both seasons pushed food crop production up by 5 percent, led by an 8 percent increase in Season A and a 2 percent rise in Season B.
Still, export crops dipped by 1 percent. Slight gains in tea and coffee could not fully compensate for lower production of pyrethrum and sugarcane.
Industry kept pace with double-digit momentum, growing by 10 percent. Mining and quarrying were up by 12 percent, construction also climbed 12 percent, and manufacturing expanded by 7 percent.
Factories producing metal products, machinery, and equipment grew the fastest at 20 percent, followed by non-metallic minerals and plastic-related industries, both rising 15 percent. Textiles and leather registered 10 percent growth, while food processing made a more modest 2 percent improvement.
The services sector once again defined Rwanda’s economic story. It posted a 10 percent rise with wholesale and retail trade leading at 18 percent growth. Transport services improved by 9 percent, supported by remarkable gains in air travel at 18 percent and land transport at 10 percent.
Hotels and restaurants climbed 11 percent, a signal that tourism continues to heal. ICT services soared by 25 percent, making it one of the fastest-growing sub-sectors. Financial services grew by 7 percent, public administration by 10 percent, health by 15 percent, and education by 5 percent.
Economists say this latest data reinforces Rwanda’s growth trajectory but also reminds policymakers where recovery is uneven. Export crops and food processing remain weak spots, while ICT and services are quickly becoming the country’s economic engine.
As Rwanda steps into 2025, the challenge will be maintaining this impressive pace while turning growth into stronger incomes, better productivity, and continued resilience for households and businesses alike.
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