The gross domestic product of Rwanda advanced by 10.3% from a year earlier in the fourth quarter of 2021, following a 10.1% growth in the previous three-month period. That was the fourth consecutive quarter of economic expansion, mainly driven by services (14% vs 11% in Q3), in particular hotels & restaurants (69% vs 62%), financial services (30% vs 11%) and transportation (19%, the same pace as in Q3). Meanwhile, the industrial sector lost steam (5% vs 12%), namely construction (4% vs 15%), mining (6% vs 30%) and manufacturing (6% vs 7%). Also, activity weakened somewhat in agriculture, forestry & fishing (5% vs 6%). On a quarterly basis, the GDP rose 4.4%, much faster than a 1.2% expansion in the previous quarter. In 2021, Rwanda’s economy grew by 10.9%, the most since 2008, a sharp bounce after contracting by 3.4% in 2020. source: National Institute of Statistics of Rwanda

GDP Annual Growth Rate in Rwanda averaged 7.14 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 May of 2022.

GDP Annual Growth Rate in Rwanda is expected to be 4.70 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 6.70 percent in 2023 and 7.30 percent in 2024, according to our econometric models.

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Rwanda GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2021-12-19 09:00 AM Q3 10.1% 20.6% 4%
2022-03-23 10:00 AM Q4 10.3% 10.1% 8%
2022-06-20 10:00 AM Q1 10.3% 8.5%


Related Last Previous Unit Reference
GDP Growth Rate 4.40 1.20 percent Dec 2021
GDP Annual Growth Rate 10.30 10.10 percent Dec 2021
GDP From Transport 121.00 106.00 RWF Billion Dec 2021
GDP From Services 1251.00 1164.00 RWF Billion Dec 2021
GDP From Public Administration 132.00 139.00 RWF Billion Dec 2021
GDP From Mining 37.00 39.00 RWF Billion Dec 2021
GDP From Manufacturing 220.00 214.00 RWF Billion Dec 2021
GDP From Construction 180.00 181.00 RWF Billion Dec 2021
GDP From Agriculture 609.00 609.00 RWF Billion Dec 2021
GDP Constant Prices 2572.00 2464.00 RWF Billion Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
10.30 10.10 20.60 -12.50 2000 - 2021 percent Quarterly
Constant 2017 prices

News Stream
Rwanda Economy Continues to Grow Solidly
The gross domestic product of Rwanda advanced by 10.3% from a year earlier in the fourth quarter of 2021, following a 10.1% growth in the previous three-month period. That was the fourth consecutive quarter of economic expansion, mainly driven by services (14% vs 11% in Q3), in particular hotels & restaurants (69% vs 62%), financial services (30% vs 11%) and transportation (19%, the same pace as in Q3). Meanwhile, the industrial sector lost steam (5% vs 12%), namely construction (4% vs 15%), mining (6% vs 30%) and manufacturing (6% vs 7%). Also, activity weakened somewhat in agriculture, forestry & fishing (5% vs 6%). On a quarterly basis, the GDP rose 4.4%, much faster than a 1.2% expansion in the previous quarter. In 2021, Rwanda’s economy grew by 10.9%, the most since 2008, a sharp bounce after contracting by 3.4% in 2020.
2022-03-23
Rwanda GDP Growth Remains Strong in Q3
The economy of Rwanda advanced by 10.1% from a year earlier in the third quarter of 2021, following a record 20.6% growth in the previous three-month period. The expansion was mainly driven by services (11% vs 24% in Q2), in particular hotels & restaurants (62%); transport (19%); maintenance & repair of motor vehicles (16%) information & communication (14%) and financial services (11%). The industrial sector also contributed positively (12% vs 30%), boosted by mining & quarrying (30%), construction (15%) and manufacturing (7%). At the same time, agriculture, forestry & fishing continued to advance solidly (6% vs 7%). On a quarterly basis, the GDP rose 1.2%, after an upwardly revised 4.6% expansion in the previous quarter.
2021-12-19
Rwanda GDP Expands at Record Pace in Q2
The economy of Rwanda expanded 20.6% 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.
2021-09-16