Rwanda | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Rwanda including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Rwanda economy.


Overview Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.40 0.9 -0.06 0.13 -0.01 0.01 percent [+]
Unemployment Rate 13.20 14.69 15.28 15.71 16.13 19.12 percent [+]
Inflation Rate 7.20 8 8 7 6 6.5 percent [+]
Interest Rate 6.00 6 6 6 6 6 percent [+]
Balance of Trade -128.95 -128 -129 -128 -128 -128 USD Million [+]
Government Debt to GDP 37.60 36 36 35 35 40 percent [+]
MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Currency 828.40 818 810 802 793 702 [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.40 0.9 -0.06 0.13 -0.01 0.01 percent [+]
GDP Annual Growth Rate 1.70 4.1 5.8 5 4.9 6.6 percent [+]
GDP 8.38 8.54 8.55 8.58 8.61 8.87 USD Billion [+]
Gross Fixed Capital Formation 442.00 413 396 420 400 400 FRW Billion [+]
GDP per capita 738.60 748 754 760 765 821 USD [+]
GDP per capita PPP 1773.80 1791 1805 1813 1820 1892 USD [+]
GDP Constant Prices 1584.00 1624 1619 1625 1643 1712 RWF Billion [+]
Gdp From Agriculture 447.00 443 447 459 464 501 BWP Million [+]
Gdp From Construction 111.00 112 114 107 107 107 BWP Million [+]
Gdp From Manufacturing 96.00 101 100 101 105 116 BWP Million [+]
Gdp From Mining 34.00 39.22 37.16 36.88 37.85 37.54 RWF Billion [+]
Gdp From Public Administration 74.00 81.85 82.46 79.83 80.97 91 RWF Billion [+]
Gdp From Services 774.00 807 816 824 836 947 RWF Billion [+]
Gdp From Transport 60.00 61.55 61.95 60.95 62.17 62.09 BWP Million [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 13.20 14.69 15.28 15.71 16.13 19.12 percent [+]
Population 11.26 11.6 11.6 11.8 11.8 12.9 Million [+]
Wages High Skilled 370000.00 362500 362500 362500 362500 362500 RWF/Month [+]
Wages Low Skilled 126000.00 126000 126000 126000 126000 126000 RWF/Month [+]
Living Wage Individual 86200.00 86200 86200 86200 86200 86200 RWF/Month [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate 7.20 8 8 7 6 6.5 percent [+]
Core Inflation Rate 4.80 0.91 -2.74 -5.52 -6.79 -4.04 percent [+]
Food Inflation 10.50 9.54 8.29 7.88 7.71 7.54 percent [+]
Producer Prices 122.85 121 119 117 115 112 Index Points [+]
Producer Prices Change 11.60 13.6 14.24 13.62 13.31 0.55 percent [+]
Inflation Rate Mom 0.60 0.92 0.14 0.55 0.34 0.41 percent [+]
Consumer Price Index Cpi 121.10 122 121 121 121 120 Index Points [+]
CPI Transportation 105.90 106 106 106 105 103 Index Points [+]
Gdp Deflator 115.00 117 119 120 121 133 Index Points [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate 6.00 6 6 6 6 6 percent [+]
Deposit Interest Rate 7.60 8.18 8.28 8.4 8.51 8.06 percent [+]
Money Supply M1 839.90 719 682 659 640 506 RWF Billion [+]
Money Supply M2 1382.20 1240 1193 1173 1160 1068 RWF Billion [+]
Money Supply M3 1772.20 1213 1005 895 835 757 RWF Billion [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade -128.95 -128 -129 -128 -128 -128 USD Million [+]
Exports 74.85 73.78 73.93 73.9 73.9 73.9 USD Million [+]
Imports 203.80 202 203 203 203 203 USD Million [+]
Current Account -1210.45 -1081 -1135 -1148 -1161 -1445 USD Million [+]
Current Account to GDP -16.60 -12 -12 -12.6 -12.6 -10.5 percent [+]
Capital Flows -773.11 359 429 42.14 -345 -770 USD Million [+]
Terrorism Index 2.59 3.18 3.11 3.21 3.3 3.02 [+]
External Debt 1851.54 1673 1700 1639 1578 930 USD Million [+]
Foreign Direct Investment 471.00 587 628 614 600 465 USD Million [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 37.60 36 36 35 35 40 percent [+]
Government Budget -4.80 -3.28 -3.32 -3.17 -3.02 -2.32 percent of GDP [+]
Government Spending 249.00 247 242 247 241 243 FRW Billion [+]
Military Expenditure 105.90 100 100 98.4 96.64 91.71 USD Million [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Industrial Production -1.00 10.63 12.72 13.63 12.22 9.86 percent [+]
Manufacturing Production 7.00 7.54 7.71 6.6 5.85 7.1 percent [+]
Ease of Doing Business 56.00 57 56 56 56 56 [+]
Changes In Inventories 8.00 8.01 7.49 8 9.56 7.65 FRW Billion [+]
Competitiveness Index 4.41 4.33 4.33 4.42 4.45 4.54 Points [+]
Competitiveness Rank 52.00 52 52 54 54 51 [+]
Corruption Index 54.00 53 53 53 52 50 Points [+]
Corruption Rank 50.00 48 50 50 50 50 [+]
CONSUMER Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Consumer Spending 1200.00 1248 1259 1221 1252 1218 RWF Billion [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Corporate Tax Rate 30.00 30 30 30 30 30 percent [+]
Personal Income Tax Rate 30.00 30 30 30 30 30 percent [+]
Sales Tax Rate 18.00 18 18 18 18 18 percent [+]
Social Security Rate 8.00 8 8 8 8 8 percent [+]
Social Security Rate For Companies 5.00 5 5 5 5 5 percent [+]
Social Security Rate For Employees 3.00 3 3 3 3 3 percent [+]