In 2020, COVID-19 had a profound impact on Rwandan economy. In addition to the public health challenge, COVOD-19 had also severely affected many economies following measures that were and are still being implemented to contain the spread of the virus.
Apart from the 1st Quarter that was not hit hard by the pandemic, the remaining 3 Quarters recorded negative growths:
In 2019, estimates calculated using the 2017 benchmark show that annual GDP increased by 9.4%. The level of GDP is now at Frw 9,105 billion.
Agriculture sector contributed 24%, Industry contributed 18%, Services contributed 49% while the remainder 9% was attributed to net tax on products.
Sectors grew as follows:
- Agriculture: 5%
- Industry: 16%
- Services: 8%
In agriculture, food crop growth was 4%. Export crops growth was 5% mainly due to growth in coffee and tea that increased by 7% and 3% respectively.
Rwanda's economy grew 5.9 percent in 2016, and GDP reached Frw 6,618 billion, up from Frw 5,956 billion in the previous year.
In 2013, based on 2011 benchmark, estimates calculated in 2011 prices shows that GDP was 4.6 percent higher in real terms than in 2012, following an increase of 7.3 percent in 2012.