Rwanda's economy expanded 7.7 percent year-on-year in the third quarter of 2018, following a 6.7 percent growth in the previous period. Output advanced further in the services sector (7 percent vs 5 percent in Q2), boosted by transport (17 percent vs 13 percent); wholesale and retail trade (12 percent vs 11 percent); professional, scientific and technical activities (:19 percent vs -6 percent); hotels and restaurants (13 percent vs 9 percent); financial services (8 percent vs 7 percent); and real estate (8 percent vs 4 percent). Also, industrial output increased at a faster pace (12 percent vs 10 percent),mainly driven by construction (17 percent vs 13 percent); electricity (11 percent vs 9 percent); and mining and quarrying (7 percent, the same as in Q2). On the other hand, output growth slowed in agriculture, forestry and fishing sector (5 percent vs 6 percent), mostly due to food crops (3 percent vs 6 percent). On a quarterly basis, the economy grew 5.8 percent. GDP Annual Growth Rate in Rwanda averaged 7.32 percent from 2000 until 2018, reaching an all time high of 13.20 percent in the fourth quarter of 2002 and a record low of 1.70 percent in the first quarter of 2017.
GDP Annual Growth Rate in Rwanda is expected to be 7.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Rwanda to stand at 7.40 in 12 months time. In the long-term, the Rwanda GDP Annual Growth Rate is projected to trend around 6.60 percent in 2020, according to our econometric models.