The National Institute of Statistics of Rwanda (NISR) recently released the Index of Industrial Production (IIP) report for November 2024, showcasing remarkable growth across various industrial sectors.

This monthly publication provides critical insights into the nation’s industrial performance, serving as a barometer for short-term economic activity within the formal sector.

In November 2024, Rwanda’s overall industrial output surged by 14.7% compared to the same month in 2023.

This growth represents a significant uptick from the annual average increase of 8.6%, reflecting strong industrial recovery and expansion.

Key highlights include mining and quarrying, which showed an impressive increase of 45.2%.

Manufacturing expanded by 18.4%, driven by robust growth in food processing (26.3%) and beverages and tobacco products (16.6%).

Additionally, electricity production rose by 9.6%, while water and waste management achieved a 12.8% increase.

Regarding sectoral performance, the report indicates that manufacturing activities emerged as a cornerstone of this growth, with notable gains in specific sub-sectors.

Data-driven food processing was the standout performer, with a 26.3% growth rate.

Chemicals, rubber, and plastics increased by 34.6%; metal products, machinery, and equipment grew by 36.1%; while furniture and other manufacturing recorded a 30.5% increase.

However, not all sectors experienced growth. The manufacturing of textiles, clothing, and leather goods faced a significant decline of 39.5%, highlighting potential areas for policy intervention.

The IIP report emphasizes its methodological rigor, built on the 2017 rebasing exercise to ensure accuracy and relevance.

The IIP’s calculations are aligned with international best practices, using gross value-added weights from the Rwanda Classification of Products by Activity (RCPA). This rebasing enables better tracking of industrial trends, offering policymakers and investors reliable data to guide decisions.