Rwanda’s GDP per capita in 2012 rises to USD 644 from USD 593 in 2011
In 2012, Rwanda’s Gross Domestic Product (GDP) per capita rose to USD 644 increasing from USD 593 in 2011 announced Rwanda’s Minister of Finance and Economic planning Amb. Claver Gatete to present how Rwanda’s economy performed in the last fiscal year. Presentations focused on key sectors of the economy namely agriculture, industry and services. GDP in 2012, calculated at constant 2006 prices (and adjusted for inflation), increased by 8% in real terms unlike the 7.7% that was projected.
According to a survey carried out by the National Institute of Statistics, Rwanda’s GDP was estimated at RwF 4,363 billion in 2012, up from RwF 3,814 billion in the year 2011.
According to Minister Gatete, the service sector was the main contributor of last year’s GDP. “The Service sector contributed 45% of GDP compared to 33% and 16% contributed by agriculture and industrial sectors respectively. The Service sector had the highest growth of 12% followed by Industry 7% and agriculture 3%.”
Assessment of GDP by expenditure indicates that in 2012, private final consumption expenditure was 82% of the GDP while government final consumption expenditure was 15%.
The level of investment (Gross capital formation) is estimated at 23% of GDP in 2012, reflecting high levels of activity in the construction sector as well as durable capital goods.
Minister Gatete also revealed that GDP has steadily increased over the last ten years from RwF 797 billion in 2002 to RwF 4,363 billion by 2012.
The service sector continues to grow impressively while the agriculture sector is slowing down. While the agriculture sector had the highest output level in 2002, by 2005, the service sector had surpassed it and continues to dominate the economy in 2012.
Image Source: Government of Rwanda
Source: Government of Rwanda