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. GDP Annual Growth Rate in Rwanda averaged 7.76 percent from 2000 until 2019, reaching an all time high of 13.40 percent in the first quarter of 2007 and a record low of 1.90 percent in the first quarter of 2017.

GDP Annual Growth Rate in Rwanda is expected to be 8.50 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 9.50 in 12 months time. In the long-term, the Rwanda GDP Annual Growth Rate is projected to trend around 8.00 percent in 2020, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Rwanda GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
11.90 12.20 13.40 1.90 2000 - 2019 percent Quarterly
Constant 2014 prices



Calendar GMT Actual Previous Consensus TEForecast
2019-03-15 02:45 PM Q4 9.6% 7.7% 12%
2019-06-17 03:15 PM Q1 8.4% 9.6% 10%
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%
2020-03-16 02:45 PM Q4 11.9% 8.5%


News Stream
2019-09-16
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.

2019-06-17
Rwanda GDP Growth Slows to 8.4% YoY in Q1
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.

2019-03-15
Rwanda GDP Grows 9.6% YoY in Q4
The economy of Rwanda advanced 9.6 percent year-on-year in the last quarter of 2018, following a 7.7 percent rise in the third quarter. The services sector grew 11 percent, faster than 7 percent in Q3, mainly boosted by wholesale an retail trade (14 percent compared to 12 percent) and real estate activities (7 percent from 6 percent). Faster increases were also seen in manufacturing (13 percent compared to 10 percent) and construction (20 percent compared to 17 percent). On the other hand, agriculture went up 4 percent, below 5 percent in the previous quarter. On a quarterly basis, the economy expanded 2.9 percent, below 5.9 percent in the three months to September. Considering full 2018, the GDP grew 8.6 percent, higher than 6.1 percent in 2017.


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.

Rwanda GDP Last Previous Highest Lowest Unit
GDP Growth Rate 5.60 3.50 13.20 -2.20 percent [+]
GDP Annual Growth Rate 11.90 12.20 13.40 1.90 percent [+]
GDP 9.51 9.14 9.51 0.12 USD Billion [+]
Gross Fixed Capital Formation 742.00 805.00 805.00 93.00 RWF Billion [+]
GDP per capita 826.30 780.80 826.30 207.50 USD [+]
GDP per capita PPP 2003.13 1892.68 2003.13 502.91 USD [+]
GDP Constant Prices 2076.00 1966.00 2076.00 683.00 RWF Billion [+]
GDP From Agriculture 516.00 507.00 516.00 237.00 RWF Billion [+]
GDP From Construction 177.00 163.00 177.00 32.00 RWF Billion [+]
GDP From Manufacturing 127.00 128.00 128.00 42.00 RWF Billion [+]
GDP From Mining 52.00 45.00 62.00 12.00 RWF Billion [+]
GDP From Public Administration 104.00 90.00 104.00 26.00 RWF Billion [+]
GDP From Services 1029.00 956.00 1029.00 286.00 RWF Billion [+]
GDP From Transport 103.00 87.00 103.00 20.00 RWF Billion [+]