FX.co ★ Rwanda's Economy Keeps Solid Pace of Growth

Rwanda’s economy maintained strong momentum in Q2, expanding by 9.4% year-on-year following a 10% increase in the previous quarter. Growth was driven primarily by industry, which surged 18%, supported by robust gains in construction (+24%), mining (+26%) and manufacturing (+10%). Within manufacturing, output of metal products, machinery and equipment was particularly dynamic, jumping 51%. Production of non-metallic mineral products rose 22%, while textiles, clothing and leather goods increased 13%. Services and agriculture recorded more moderate growth of 7% and 4%, respectively. On a quarterly basis, GDP rebounded by 9%, fully offsetting the 9% contraction registered in the preceding quarter.