Uzziel Ndagijimana middle , on Monday. The growth was buoyed by the service sector which contributed 44 percent, agriculture 27 percent, industry 22 percent, while 8 percent was attributed to adjustment for taxes and subsidies on products, according to the Gross Domestic Product GDP figures released by NISR.
The report further indicates that in comparison, the first quarter estimates calculated in prices show that GDP was 9. Agricultural activities increased by 1 percent and contributed 0. However, in the same sector, the production of food crops decreased by 3 percent while the production of export crops increased by 25 percent. Industrial activities grew by 9 percent and contributed 1. Within industry, construction activities increased by 1 percent, Mining and quarrying increased by 15 percent, while manufacturing activities increased by 16 percent.
There was an 18 percent increase in manufacturing of wood paper printing and a 7 percent increase in manufacturing of non-metallic minerals manufacturing over the past three months. Similarly, the service sector grew by 13 percent. Within services, wholesale and retail trade increased by 17 percent while transport activities increased by 19 percent, hotel and restaurants grew by 42 percent.
According to NISR, in the same period, financial services increased by 12 percent, telecommunication services increased by 43 percent; professional and scientific services dropped by 6 percent. Minister Dr. Ndgijimana said that inflation is on the decline since December last year when it peaked. The statistics body further indicates that public administration services increased by 7 percent and education services by 13 percent. However, health services recorded negative growths of 3 percent following a high growth of 22 percent in the same quarter of NISR further says that in the first quarter of , total final consumption expenditure increased by 10 percent, with household final consumption increasing by 14 percent while Government final consumption decreased by 7 percent.
Exports increased by 6 percent and Imports remained unchanged while Gross Capital Formation decreased by 4 percent. The Minister of Finance and Planning, Dr Uzziel Ndagijimana, said that the numbers show a positive trajectory for the economy and that the inflation effect is reducing, which also means that prices of goods and food will decline. Ndagijimana said, adding that it is expected that by the end of year it will have reduced by half to 7 percent. The Russia-Ukraine conflict and the after-effects of the Covid pandemic have been blamed from spiralling inflation globally, with African countries taking a major hit more than anywhere else.
