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 Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 4.90 2.6 3.2 3.1 3.2 3.9 percent [+]
Unemployment Rate 16.70 15.6 17.75 18.82 19.9 25.6 percent [+]
Inflation Rate 1.60 7 6.5 6 6.4 6.5 percent [+]
Interest Rate 6.00 6 6 6 6 6 percent [+]
Balance of Trade -107.47 -134 -152 -168 -183 -263 USD Million [+]
Government Debt to GDP 37.60 36 35 35 35 40 percent [+]
MARKETS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Currency 835.75 821 812 804 796 705 [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 4.90 2.6 3.2 3.1 3.2 3.9 percent [+]
GDP Annual Growth Rate 8.00 5.8 5 4.9 9.8 6.6 percent [+]
GDP 8.38 8.4 8.4 8.4 8.4 8.1 USD Billion [+]
Gross Fixed Capital Formation 414.00 411 416 414 412 404 RWF Billion [+]
GDP per capita 738.60 734 734 733 733 721 USD [+]
GDP per capita PPP 1773.80 1761 1759 1757 1755 1720 USD [+]
GDP Constant Prices 1722.00 1649 1666 1671 1669 1649 RWF Billion [+]
Gdp From Agriculture 457.00 446 447 446 445 441 RWF Billion [+]
Gdp From Construction 117.00 115 112 114 114 110 RWF Billion [+]
Gdp From Manufacturing 101.00 94.59 95.74 96.87 95.78 94.49 RWF Billion [+]
Gdp From Mining 58.00 35.53 34.97 34.95 34.57 31.85 RWF Billion [+]
Gdp From Public Administration 94.00 77.44 77.07 77.42 77.32 76.03 RWF Billion [+]
Gdp From Services 852.00 828 837 840 844 835 RWF Billion [+]
Gdp From Transport 74.00 65.36 65.24 65.12 65 63.94 RWF Billion [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 16.70 15.6 17.75 18.82 19.9 25.6 percent [+]
Population 11.26 11.6 11.8 11.8 11.8 12.6 Million [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate 1.60 7 6.5 6 6.4 6.5 percent [+]
Core Inflation Rate 4.20 4.43 4.47 4.51 4.55 4.88 percent [+]
Food Inflation -2.00 6.8 6.79 7 7.18 7.41 percent [+]
Producer Prices 122.85 119 117 115 114 112 Index Points [+]
Producer Prices Change 11.60 10.5 9.8 9.2 8.5 5.5 percent [+]
Inflation Rate Mom -3.00 -0.02 0.66 0.3 0.49 0.42 percent [+]
Consumer Price Index Cpi 120.88 123 122 122 122 121 Index Points [+]
CPI Transportation 107.71 106 106 106 106 104 Index Points [+]
Gdp Deflator 112.00 115 115 115 115 112 Index Points [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate 6.00 6 6 6 6 6 percent [+]
Deposit Interest Rate 8.00 8.2 8.21 8.21 8.22 7.83 percent [+]
Money Supply M1 839.90 831 830 828 826 810 RWF Billion [+]
Money Supply M2 1382.20 1366 1364 1361 1358 1333 RWF Billion [+]
Money Supply M3 1772.20 1005 895 835 801 757 RWF Billion [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade -107.47 -134 -152 -168 -183 -263 USD Million [+]
Exports 87.50 95.64 101 105 109 128 USD Million [+]
Imports 194.97 238 267 293 316 437 USD Million [+]
Current Account -1210.45 -1230 -1223 -1215 -1208 -1280 USD Million [+]
Current Account to GDP -16.60 -12 -12.6 -12.6 -13.34 -10.5 percent [+]
Capital Flows -773.11 429 42.14 -345 -732 -770 USD Million [+]
Terrorism Index 1.93 2.88 2.97 3.05 3.14 2.71 [+]
External Debt 1851.54 1671 1600 1528 1456 832 USD Million [+]
Foreign Direct Investment 471.00 628 614 600 587 465 USD Million [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Debt to GDP 37.60 36 35 35 35 40 percent [+]
Government Budget -3.20 -2.68 -2.62 -2.57 -2.52 -2.34 percent of GDP [+]
Government Spending 256.00 251 249 250 249 244 RWF Billion [+]
Military Expenditure 105.90 95.6 92.99 90.38 87.76 75.95 USD Million [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Industrial Production 1.00 12.13 13.66 13.3 11.24 9.71 percent [+]
Manufacturing Production 6.00 6.8 6.72 6.18 6.33 6.28 percent [+]
IP Addresses 10599.00 10339 10205 10082 9951 8839 IP [+]
Ease of Doing Business 41.00 66 67 69 70 73 [+]
Changes In Inventories 11.00 8.07 8.38 9.89 8.41 8.05 RWF Billion [+]
Competitiveness Index 4.35 4.37 4.37 4.37 4.37 4.25 Points [+]
Competitiveness Rank 58.00 54 54 54 54 67 [+]
Corruption Index 54.00 53 53 52 52 50 Points [+]
Corruption Rank 50.00 59 61 63 65 81 [+]
CONSUMER Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Consumer Spending 1271.00 1252 1236 1240 1233 1208 RWF Billion [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Corporate Tax Rate 30.00 31 31 31 31 31 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 [+]