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GDP National Accounts, 2023
In 2023, GDP at current market prices was estimated at Frw 16,355 billion, the services sector accounted for 44% of the GDP, the agriculture sector contributed 27%, and the industry sector contributed 22% while Net indirect taxes accounted for 7%. In this year, o the annual average GDP growth of 8.2%.
GDP National Accounts, 2022
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.
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In 2020, Rwanda's GDP drop by 3.4% following Covid-19 pandemic outbreak
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, Rwanda's GDP was 9.4 percent higher compared to 2018.
Key Results:
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.