How Rwanda’s growth is driven by industry, service and agriculture
Earlier this week, National Institute of Statistics of Rwanda shared that Rwanda’s economic growth grew by 12.2 per cent from April to June this year, compared to 6.7 per cent in the same period last year.
Fri, 20 Sep 2019 15:16:54 GMT
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AI Generated Summary
- Rwanda experiences a substantial economic growth of 12.2% in the second quarter of 2019, propelled by the service industry, agriculture, and manufacturing sectors.
- The country aims to transition into a service-led economy, emphasizing improved skills and capacities for sustained growth.
- Rwanda's agricultural sector showcases significant potential for export opportunities, with recent agreements signaling a shift towards specialization and technology-driven practices.
Rwanda's economic growth has surged, with the National Institute of Statistics of Rwanda reporting a 12.2% growth in the second quarter of 2019, compared to 6.7% in the same period last year. The significant growth has been attributed to key sectors such as the service industry, agriculture, and manufacturing. The country aims to transition into a service-led economy, showcasing improved skills and capacities. The positive trend in agriculture not only bolsters food security but also highlights the country's resilience amidst external challenges. Despite ongoing diplomatic relations with Uganda, Rwanda's economy has remained robust. The recent contract worth 100 million US dollars for exporting agricultural products to China underscores Rwanda's potential as a leading agricultural exporter in East Africa. The agreement between Gashora Farms and Chinese counterparts to export dry chilies, iron, and oil signals vast opportunities in the local agricultural sector and emphasizes the importance of specialization and technological advancements to ensure consistent and predictable outputs, irrespective of weather conditions. As the country embraces a digital era, there is a growing focus on leveraging technology in agriculture. This shift offers young people a platform to actively participate in the sector by showcasing diverse opportunities across the value chain, from production to packaging. With the recent layoff of employees by Andela, an important reflection emerges on the need to anticipate market demands and equip youth with skills that cater to future needs. Stakeholders emphasize the significance of aligning educational curricula with evolving market trends to ensure relevance and competitiveness. Planning ahead and identifying upcoming skills requirements are crucial steps to safeguard against future disruptions. The conversation highlights the importance of proactive measures in preparing the youth for a dynamic job market. Rwanda's commitment to nurturing its industries and fostering innovation remains key to sustaining economic growth and securing a prosperous future for its citizens.