Rwanda | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Rwanda including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Rwanda economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate -1.10 0.6 0.9 30 30.13 33.91 percent [+]
Unemployment Rate 13.20 14.1 14.69 15.28 15.71 19.12 percent [+]
Inflation Rate 13.00 13.9 14.3 14.5 14.7 15.5 percent [+]
Interest Rate 6.25 6.75 6.75 6.75 6.5 6 percent [+]
Balance of Trade -116.57 -116 -116 -116 -116 -116 USD Million [+]
Government Debt to GDP 28.00 30.07 28.73 27.39 27.24 25.37 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 818.89 881 889 916 907 1050 [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate -1.10 0.6 0.9 30 30.13 33.91 percent [+]
GDP Annual Growth Rate 2.30 3.6 4.1 5.8 5 6.6 percent [+]
GDP 8.10 8.27 8.3 8.32 8.37 8.88 USD Billion [+]
Gross Fixed Capital Formation 381.00 395 410 444 443 452 FRW Billion [+]
GDP per capita 689.69 692 700 707 711 778 USD [+]
GDP per capita PPP 1655.18 1643 1661 1679 1685 1765 USD [+]
GDP Constant Prices 1576.00 1635 1654 1670 1690 1891 RWF Billion [+]
Gdp From Agriculture 441.00 427 429 444 453 509 BWP Million [+]
Gdp From Construction 118.00 114 129 140 132 162 BWP Million [+]
Gdp From Manufacturing 118.00 114 129 140 132 162 BWP Million [+]
Gdp From Mining 20.00 20.96 20.45 20.61 20.59 20.42 RWF Billion [+]
Gdp From Services 795.00 837 850 864 878 1031 RWF Billion [+]
Gdp From Transport 49.00 51.55 53.04 53.35 53.82 61.3 BWP Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 13.20 14.1 14.69 15.28 15.71 19.12 percent [+]
Population 11.26 11.74 11.81 11.88 11.88 12.9 Million [+]
Wages High Skilled 370000.00 362500 362500 362500 362500 362500 RWF/Month [+]
Wages Low Skilled 126000.00 126000 126000 126000 126000 126000 RWF/Month [+]
Living Wage Individual 86200.00 86200 86200 86200 86200 86200 RWF/Month [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 13.00 13.9 14.3 14.5 14.7 15.5 percent [+]
Core Inflation Rate 4.70 5.07 5.17 5.05 4.82 4.6 percent [+]
Food Inflation 23.60 23.53 23.48 23.49 23.49 23.49 percent [+]
Producer Prices 119.23 118 120 123 123 127 Index Points [+]
Producer Prices Change 6.60 8.9 9.64 10.47 10.47 12.79 percent [+]
Inflation Rate Mom 1.20 0.06 0.64 0.33 0.49 0.44 percent [+]
Consumer Price Index Cpi 122.00 122 123 123 124 124 Index Points [+]
Cpi Transportation 105.90 106 106 106 106 106 Index Points [+]
Gdp Deflator 110.00 111 111 112 113 122 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 6.25 6.75 6.75 6.75 6.5 6 percent [+]
Deposit Interest Rate 7.60 8.09 8.18 8.28 8.4 8.06 percent [+]
Money Supply M1 1265.60 1338 1390 1440 1490 1987 RWF Billion [+]
Money Supply M2 1603.60 1676 1731 1785 1839 2403 RWF Billion [+]
Money Supply M3 1603.60 1598 1598 1598 1598 1598 RWF Billion [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -116.57 -116 -116 -116 -116 -116 USD Million [+]
Exports 53.34 53.35 53.36 53.35 53.35 53.35 USD Million [+]
Imports 169.91 170 170 170 170 170 USD Million [+]
Current Account -1210.45 -1027 -1081 -1135 -1148 -1445 USD Million [+]
Current Account to GDP -16.60 -12 -12 -12 -12.6 -10.5 percent [+]
Capital Flows -773.11 289 359 429 42.14 -770 USD Million [+]
Terrorism Index 2.59 3.24 3.18 3.11 3.21 3.02 [+]
External Debt 1851.54 1645 1673 1700 1639 930 USD Million [+]
Foreign Direct Investment 267.70 257 259 260 261 264 USD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 28.00 30.07 28.73 27.39 27.24 25.37 percent [+]
Government Budget -4.80 -3.24 -3.28 -3.32 -3.17 -2.32 percent of GDP [+]
Government Spending 175.00 180 179 176 186 180 FRW Billion [+]
Military Expenditure 97.00 87.51 88.21 88.91 87.23 86.43 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Industrial Production 4.90 7.7 7.59 7.53 7.51 7.59 percent [+]
Manufacturing Production 5.60 6.4 6.4 6.4 6.4 6.4 percent [+]
Ease of Doing Business 56.00 59 57 56 56 56 [+]
Changes In Inventories 7.00 9.7 7.85 8.18 8.81 8.52 FRW Billion [+]
Competitiveness Index 4.41 4.33 4.33 4.33 4.45 4.54 Points [+]
Competitiveness Rank 52.00 52 52 52 54 51 [+]
Corruption Index 54.00 53 53 53 53 50 Points [+]
Corruption Rank 50.00 47 48 50 50 50 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Spending 1055.00 1016 1052 1043 1015 1042 RWF Billion [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 30.00 30 30 30 30 30 percent [+]
Personal Income Tax Rate 30.00 30 30 30 30 30 percent [+]
Sales Tax Rate 18.00 18 18 18 18 18 percent [+]
Social Security Rate 8.00 8 8 8 8 8 percent [+]
Social Security Rate For Companies 5.00 5 5 5 5 5 percent [+]
Social Security Rate For Employees 3.00 3 3 3 3 3 percent [+]