The economy of Rwanda expanded 20.9% 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. source: National Institute of Statistics of Rwanda

GDP Annual Growth Rate in Rwanda averaged 7.05 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 December of 2021.

GDP Annual Growth Rate in Rwanda is expected to be 4.00 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 6.30 percent in 2022 and 7.50 percent in 2023, according to our econometric models.

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Rwanda GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-06-18 10:00 AM Q1 3.5% -0.6% 2.5%
2021-09-15 04:10 PM Q2 20.6% 3.5% 15%
2021-12-21 11:00 AM Q3 20.6% 4%


Related Last Previous Unit Reference
GDP Growth Rate 4.50 -0.10 percent Jun/21
GDP Annual Growth Rate 20.60 3.50 percent Jun/21
GDP From Transport 98.00 93.00 RWF Billion Jun/21
GDP From Services 1133.00 1079.00 RWF Billion Jun/21
GDP From Public Administration 129.00 128.00 RWF Billion Jun/21
GDP From Mining 41.00 31.00 RWF Billion Jun/21
GDP From Manufacturing 211.00 198.00 RWF Billion Jun/21
GDP From Construction 162.00 170.00 RWF Billion Jun/21
GDP From Agriculture 602.00 603.00 RWF Billion Jun/21
GDP Constant Prices 2434.00 2329.00 RWF Billion Jun/21

News Stream
Rwanda GDP Expands at Record Pace in Q2
The economy of Rwanda expanded 20.9% 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
Rwanda Exits Recession in Q1
Rwanda's economy advanced by 3.5% year-on-year in the first quarter of 2021, after three consecutive quarters of contraction, in a sign the country is recovering from last year’s pandemic-induced recession. Main positive contributions to growth came from the industrial sector (10% vs 2% in Q4), in particular construction (14% vs -2%), manufacturing (8% vs 10%) and mining (3% vs -19%); as well as from agriculture (7% vs 3%), namely food crops (7% vs 3%) and livestock & livestock products (9%, the same pace as in Q4). Meanwhile, the services sector stalled, after declining 3% in the previous period. Strong growth recorded in maintenance & repair of motor vehicles (29% vs 15%); information & communication (18% vs 12%); financial services (10% vs 6%) and professional, scientific & technical activities (10% vs 1%) was offser by a sharp decline in hotels & restaurants (-34% vs -44%). On a quarterly basis, the GDP shrank 0.1%, following a 4.2% expansion in the previous quarter.
2021-06-18
Rwanda Recession Softens in Q4
Rwanda's economy shrank 0.6% year-on-year in the fourth quarter of 2020, following a 3.6% contraction in the previous period. It was the third consecutive quarter of declines in economic activity but at the softest pace in the current sequence. The services sector shrank 3%, less than 7% in Q3, namely transportation (-19% vs -33% in Q3) and hotels & restaurants (-44% vs -55%). On a brighter note, the industrial production rebounded (2% vs -1%), mainly supported by manufacturing (10% vs 6%). At the same time, agricultural activity grew faster (3% vs 2%), boosted by food crops (3%, the same pace as in Q3) and livestock & livestock products (9% vs 8%). On a quarterly basis, the GDP increased 4.8%, slowing from a 10.8% expansion in the previous quarter. In 2020, the economy shrank 3.4%.
2021-03-18

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.