This study aimed to analyze the short and long run relationships between financial development represented by private credit, money supply and trade liberalization, namely, trade openness and economic growth in Rwanda using annual data during the period 1970-2017. The analysis was based on Auto Regressive Distributed Lag (ARDL) Model. The results showed that financial development and trade liberalization had a significant effect on the economic growth in Rwanda in the short and long terms. This effect was statistically significant where all the variables included in the applied model revealed an effect in the short and long terms. Approximately 19% of the compound imbalances were corrected per year; additionally, the model was stable and did not suffer econometric problems and reliable in the prediction.