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.