Analysis by Region - Emerging Markets - Rwanda

Analysis by Region - Emerging Markets - Rwanda

Rwanda's real GDP growth rate for Q3 2022 was 9.9% y/y – an improvement from 7.4% y/y in Q2. Despite the adverse impact of higher inflation on consumer demand, the services sector remained robust, yielding a 16.5% y/y expansion in Q3. Given this stronger-than-expected performance in the third quarter, we have increased our growth estimate for 2022 to 7.6% from 6.2%.