Rwanda's Economy Keeps Solid Pace of Growth

Rwanda’s economy continued to grow at a brisk pace in Q2, expanding 9.4% from a year earlier after a 10% jump in the previous period. Industry was the main engine of growth, surging 18%, supported by strong performances in construction (+24%), mining (+26%) and manufacturing (+10%). Within the latter, metal products, machinery and equipment stood out, with output surging 51%. Non-metallic mineral products rose 22%, while textiles, clothing and leather products increased 13%. Meanwhile, the services sector expanded by 7%, with notable growth recorded in wholesale and retail trade (+18%) and information and communication services (+29%). Agriculture advanced by 4%, as robust performance in fishing (+66%); livestock and livestock products (+7%); forestry (+6%) and food crops (+5%) more than offset a 20% slump in export crops. On a quarterly basis, the GDP surged by 9%, fully reversing the 9% decline seen in the previous quarter.

Rwanda's economy expanded by 10% year-on-year in the first quarter of 2026, following an 11.2% growth in the previous quarter. The services sector remained the largest contributor to growth, rising 7% and adding 3.9 percentage points to overall GDP growth, supported by gains in wholesale and retail trade (11%), transport (11%), information and communication (22%), financial services (11%), and administrative and support activities (20%). However, hotels and restaurants contracted by 16%, while health services fell 18%. The agricultural sector grew by 8%, as food crop production increased 3% and export crops surged 39%. Industry expanded by 13%, driven by mining and quarrying (20%), construction (11%), and manufacturing (15%). Within manufacturing, metal products, machinery and equipment jumped 52%, while non-metallic mineral products rose 57%. On a quarterly basis, the GDP contracted by 9% in Q1, reversing from a strong 20% growth in the preceding period.

Rwanda's economy expanded 11.2% year-on-year in Q4 2025, slightly slower than the 11.8% growth recorded in the previous quarter. The services sector contributed the most to GDP growth, expanding by 8%, mainly driven by increases in wholesale and retail trade (15%), transport (13%), and information and communication (20%). The agricultural sector also grew by 8%, supported by higher food crop production (4%) and export crop output (42%). The industrial sector expanded by 16%, with increases in mining and quarrying (44%), construction (17%) and manufacturing (11%). On a quarterly basis, the economy rebounded strongly, expanding 20% following an 8.1% contraction in the previous quarter. For the full year, Rwanda’s economy grew 9.4%, the highest annual growth in four years.