Various strategies for thermoelectric material optimization have been widely studied and used for promoting electrical transport and suppressing thermal transport. As a nontraditional method, pressure has shown great potential, as it has been applied to obtain a high thermoelectric figure of merit, but the microscopic mechanisms involved have yet to be fully explored. In this study, we focus on r-GeTe, a low-temperature phase of GeTe, and investigate the pressure effects on the electronic structure, electrical transport properties and anharmonic lattice dynamics based on density functional theory (DFT), the Boltzmann transport equations (BTEs) and perturbation theory. Electronic relaxation times are obtained based on the electron-phonon interaction and the constant relaxation time approximation. The corresponding electrical transport properties are compared with those obtained from previous experiments. Hydrostatic pressure is shown to increase valley degeneracy, decrease the band effective mass and enhance the electrical transport property. At the same time, the increase in the low-frequency phonon lifetime and phonon group velocity leads to an increase in lattice thermal conductivity under pressure. This study provides insight into r-GeTe under hydrostatic pressure and paves the way for a high-pressure strategy to optimize transport properties.