In 2022, GDP at current market prices was estimated at Frw 13,716 billion, up from Frw 10.930 billion in 2021. Services sector contributed 47 percent of GDP, Agriculture sector contributed 25 percent of the GDP, and Industry sector contributed 21 percent of GDP while 7 percent was attributed to adjustment for taxes less subsidies on products.
In 2021, GDP at current market prices was estimated at Frw 10,944 billion, up from Frw 9,607 billion in 2020. Services sector contributed 48 percent of GDP, Agriculture sector contributed 24 percent of GDP, and Industry sector contributed 20 percent of GDP while 8 percent was attributed to adjustment for taxes less subsidies on products.
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.