Rwanda's annual economic growth slowed to 3.6% in the first quarter of 2020 from an 8.4% expansion in the previous period. That was the slowest pace of growth since the second quarter of 2017, amid domestic disruptions related to the Covid-19 pandemic. The services sector advanced 6%, below 8% in Q4, amid weaker performance in transportation (no growth vs 12% in Q4); hotels & restaurants (3% vs 12%); financial services (-5% vs 13%); professional, scientific & technical activities (-1% vs 9%) and cultural, domestic & other services (-1% vs 5%). Also, industry grew much less (2% vs 14%), hampered by mining & quarrying (-26% vs -12%); manufacturing (6% vs 9%) and construction (5% vs 33%). In addition, agricultural activity shrank (-1% vs 5%), due to a sharp decline in production of export crops (-16% vs -4%) and food crops (-2% vs 4%). On a quarterly basis, the economy contracted 4.2%, following an upwardly revised 1.1% growth in the previous quarter.

GDP Annual Growth Rate in Rwanda averaged 7.51 percent from 2000 until 2020, reaching an all time high of 13.40 percent in the first quarter of 2007 and a record low of 0.30 percent in the first quarter of 2017. 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 August of 2020.

GDP Annual Growth Rate in Rwanda is expected to be 2.00 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 4.20 in 12 months time. In the long-term, the Rwanda GDP Annual Growth Rate is projected to trend around 6.30 percent in 2021 and 8.00 percent in 2022, according to our econometric models.

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Rwanda GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.60 8.40 13.40 0.30 2000 - 2020 percent Quarterly
Constant 2017 prices


Calendar GMT Actual Previous Consensus TEForecast
2019-09-16 03:10 PM Q2 12.2% 8.4% 8.8%
2019-12-12 10:25 AM Q3 11.9% 12.2% 7.6%
2020-03-24 11:30 AM Q4 8.4% 10.9% 9%
2020-06-24 03:00 PM Q1 3.6% 8.4% 6%
2020-09-16 03:10 PM Q2 3.6% 1.2%
2020-12-21 11:00 AM Q3 2%


News Stream
Rwanda GDP Growth Rate Weakest since 2017
Rwanda's annual economic growth slowed to 3.6% in the first quarter of 2020 from an 8.4% expansion in the previous period. That was the slowest pace of growth since the second quarter of 2017, amid domestic disruptions related to the Covid-19 pandemic. The services sector advanced 6%, below 8% in Q4, amid weaker performance in transportation (no growth vs 12% in Q4); hotels & restaurants (3% vs 12%); financial services (-5% vs 13%); professional, scientific & technical activities (-1% vs 9%) and cultural, domestic & other services (-1% vs 5%). Also, industry grew much less (2% vs 14%), hampered by mining & quarrying (-26% vs -12%); manufacturing (6% vs 9%) and construction (5% vs 33%). In addition, agricultural activity shrank (-1% vs 5%), due to a sharp decline in production of export crops (-16% vs -4%) and food crops (-2% vs 4%). On a quarterly basis, the economy contracted 4.2%, following an upwardly revised 1.1% growth in the previous quarter.
2020-06-24
Rwanda GDP Annual Growth Nears 1-Year Low of 8.4%
Rwanda's annual economic growth slowed to 8.4% in the fourth quarter of 2019 from a downwardly revised 10.9% expansion in the previous period. It was the slowest pace of growth since the first quarter of 2019. The services sector advanced 8%, weaker than 10% in Q3, amid slowdowns in wholesale & retail trade (14% vs 21%); transport (12% vs 18%) and public administration (2% vs 12%). Also, output grew less in both the industrial (14% vs 16%) and the agricultural sectors (5% vs 7%). On a quarterly basis, the economy expanded 1%, after a downwardly revised 0.7% rise in the previous period. In 2019, the economy advanced 9.4% compared to 8.6% a year ago.
2020-03-24
Rwanda GDP Growth Rate Slows to 11.9% YoY in Q3
Rwanda's economy advanced 11.9% year-on-year in the third quarter of 2019, slowing slightly from a 12.2% growth in the previous period. The industrial sector expanded 14%, weaker than 21% in Q2, hampered by mining (-16% vs 13%); manufacturing (13% vs 16%) and electricity (7% vs 9%). Also, the construction sector rose slightly less despite performing solidly overall (29% vs 32%). On the other hand, services continued to grow (13% vs 12%), mainly boosted by wholesale & retail trade (25% vs 23%); transport (18% vs 17%); hotels & restaurants (15% vs 13%) and public administration (15% vs 12%). Agricultural activity also advanced faster (8% vs 5%), driven by export crops (22% vs 6%), namely tea (29%) and coffee (22%); livestock & livestock products (14%.the same as in Q2); food crops (5% vs 4%) and forestry (5%, the same as in Q2). On a quarterly basis, the GDP expanded 5.6 percent, the most since the third quarter of 2018, following a 3.5 percent increase in the second quarter.
2019-12-12
Rwanda Q2 GDP Growth Strongest since 2009
Rwanda's economy advanced 12.2% year-on-year in the second quarter of 2019, quickening from a 8.4% growth in the previous period. It was the fastest expansion since the first quarter of 2009. The services sector grew 12%, faster than 8% in Q1, mainly boosted by wholesale & retail trade (23% vs 7%); transport (17% vs 11%); hotels & restaurants (13% vs 7%) and public administration (12% vs -3%). Also, the industrial sector continued to rise solidly (21% vs 18%), namely due to manufacturing (16% vs 8%); mining (13% vs 12%) and construction (32% vs 30%). Meantime, agriculture grew 5%, above 4% in the prior period, driven by livestock & livestock products (14%, the same pace as in Q1); export crops (6% vs -9%); food crops (4%, the same pace as in Q1) and forestry (5%, the same pace as in Q1). On a quarterly basis, the GDP expanded 3.5 percent, following a 0.5 percent contraction in the first quarter.
2019-09-16

Rwanda GDP Annual Growth Rate
Services is the largest sector of the Rwanda's economy and accounts for 53 percent of total GDP. Within services, the most important sub-sectors are: real estate activities (8 percent), wholesale and retail trade (8 percent), cultural, domestic & other services (6 percent), administrative and support service activities and public administration and defence; and compulsory social security (5 percent each). Agriculture, forestry and fishing account for 29 percent of GDP, with food crops contributing 17 percent. The industrial sector constitutes 18 percent of the GDP, with construction (7 percent) and manufacturing (6 percent) accounting for the largest shares. On the expenditure side, household consumption is the main component of GDP and accounts for 76 percent of its total use, followed by gross fixed capital formation (28 percent) and government expenditure (16 percent). Exports of goods and services account for 19 percent of GDP while imports account for 39 percent, subtracting 20 percent of total GDP. The major source of foreign trade is coffee, tea, tin cassiterite, wolframite and pyrethrum.