The economy of Rwanda advanced 8.4% year-on-year in the first quarter of 2019, after a 9.6% expansion in the previous period. The services sector grew 8%, slower than 11% in Q4, namely wholesale and retail trade (7% vs 14%); transport (11% vs 16%); real estate activities (2% vs 7%) and hotels & restaurants (7% vs 11%). In addition, output contracted for information & communication (-2% vs 14%) and public administration (-3% vs 27%). Conversely, the industrial sector advanced faster (18% vs 12%), mainly boosted by mining & quarrying (12% vs -2%) and construction (30% vs 20%); while manufacturing activity lost steam (8% vs 13%). Meantime, agriculture grew 4 percent, the same pace as in the previous period, driven by livestock products (14%, the same pace as in Q4) and food crops (4% vs 3%). On a quarterly basis, the GDP declined 0.5 percent, following a 2.9 percent advance in the last three months to December 2018. GDP Annual Growth Rate in Rwanda averaged 7.28 percent from 2000 until 2019, reaching an all time high of 13.20 percent in the fourth quarter of 2002 and a record low of 1.90 percent in the first quarter of 2017.
GDP Annual Growth Rate in Rwanda is expected to be 8.80 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 7.50 in 12 months time. In the long-term, the Rwanda GDP Annual Growth Rate is projected to trend around 7.60 percent in 2020, according to our econometric models.