In the second quarter of 2020, GDP at current market prices was estimated at Frw 2,175 billion, down from Frw 2,346 billion in Q2 of 2019. Services continue to lead in terms of shares to GDP with 45% compared to 28% and 19% shares for agriculture and industry respectively.
Rwanda’s Consumer Price Index (CPI), main gauge of inflation increased by 8.8 percent year on year in August 2020 down from 9.2 percent in July 2020.
Rwanda’s Consumer Price Index (CPI), main gauge of inflation increased by 9.2 percent year on year in July 2020 up from 9 percent in June 2020.
Rwanda’s Consumer Price Index (CPI), main gauge of inflation increased by 9 percent year on year in June 2020 down from 9.2 percent in May 2020.
During the elaboration of The National Strategy for Transformation (NST1), job creation was included as one of the key components of the economic pillar. NST1 stipulates creation of 1.500.000 jobs by 2024. The strategy also emphasizes inclusive growth, creation of productive and descent work for all (Off Farm). The government of Rwanda through the Ministry of Finance and economic planning identified high priority sectors with potential for employment creation.
Rwanda’s Consumer Price Index (CPI), main gauge of inflation increased by 9.2 percent year on year in May 2020 up from 8 percent in Avril 2020.
Rwanda’s Consumer Price Index (CPI), main gauge of inflation increased by 8 percent year on year in April 2020 down from 8.5 percent in March 2020.
The Rwanda unemployment rate has been varying between 14.5 and 15.4 percent in last four quarters of 2019 and has continue to decline in the 1st Quarter 2020 up to 13.1% a figure that has not yet achieved in last four years. As a result, the number of population out of labour force has increased as compared to the previous quarter and the number of working age population in subsistence agriculture has increased.
Rwanda’s Consumer Price Index (CPI), main gauge of inflation increased by 8.5 percent year on year in March 2020 down from 8.7 percent in February 2020.
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.