Rwanda’s economy grew by 8.9% in 2024, reflecting resilience, strategic economic planning, and a commitment to private-sector development, according to the Ministry of Finance and Economic Planning.
The country’s Gross Domestic Product (GDP) increased from Frw 16,626 billion in 2023 to Frw 18,785 billion in 2024, marking a significant expansion driven by strong performance across key economic sectors. The services sector remained the dominant force, contributing 48% of GDP, with industry and agriculture accounting for 21% and 25%, respectively. Growth in these sectors was measured at 10% for both services and industry, while agriculture posted a 5% increase.
Rwanda’s economic expansion was consistent throughout the year, with the highest growth rates recorded in Q1 (9.7%) and Q2 (9.8%), followed by Q3 (8.1%) and Q4 (8%). This steady performance underscores the effectiveness of government policies aimed at strengthening economic resilience, attracting foreign investment, and fostering entrepreneurship.
The government’s emphasis on infrastructure development, digital transformation, and regional trade partnerships has played a crucial role in sustaining growth. In recent years, Rwanda has positioned itself as an attractive destination for investors, thanks to its stable business environment and progressive reforms. Additionally, public and private sector collaboration has been instrumental in driving innovation and expanding key industries.
Despite global economic challenges, Rwanda’s strong GDP performance signals confidence in its economic trajectory. Moving forward, the country is expected to focus on further enhancing industrialization, boosting exports, and improving agricultural productivity to sustain its upward momentum.
