The economy of Rwanda expanded 20.9% from a year earlier in the second quarter of 2021, following a 3.5% rise in the previous three-month period. It was the quickest economic expansion on record, reflecting a strong rebound from the pandemic-induced slump. The main driver of growth was the services sector, which expanded by 24% backed by strong performances in trade & transportation (41%), wholesale and retail trade (34%), education (168%), information and communication (28%) and financial services (19%). At the same time, industrial activities grew by 30%, boosted by mining (87%), manufacturing (23%) and construction (33%). The agricultural sector also rose by 7%, helped by increased food crop production. source: National Institute of Statistics of Rwanda
GDP Annual Growth Rate in Rwanda averaged 7.05 percent from 2000 until 2021, reaching an all time high of 20.60 percent in the second quarter of 2021 and a record low of -12.50 percent in the second quarter of 2020. This page provides the latest reported value for - Rwanda GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Rwanda GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
GDP Annual Growth Rate in Rwanda is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Rwanda GDP Annual Growth Rate is projected to trend around 6.30 percent in 2022 and 7.50 percent in 2023, according to our econometric models.