Countries
Rwanda
Key Economic Indicators
$52.9 billion
$3,711
8.89%
1.77%
11.36%
$14.252 billion (2024 est.)
37.3% of GDP (2016 est.)
$-1,807,568,338
Economic Overview
<p>low-income Sub-Saharan economy; services, industry, and agriculture sectors driving growth; increased government spending on human capital, energy, and healthcare; major infrastructure projects including the Bugesera Airport intended to support long-term growth; challenges include lack of economic diversification, high inflation, and wide current account deficit</p>
All Economic Data
Agricultural products
bananas, cassava, sweet potatoes, plantains, potatoes, maize, beans, pumpkins/squash, taro, sorghum (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$3.996 billion (2023 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$3.41 billion (2023 est.)
Currency
code:
RWF
name:
Rwandan franc (RWF) [Fr]
Current account balance
$-1,807,568,338
Current account balance 2021:
-$1.209 billion (2021 est.)
Current account balance 2022:
-$1.246 billion (2022 est.)
Current account balance 2023:
-$1.654 billion (2023 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$13.05 billion
Debt - external 2023:
$5.531 billion (2023 est.)
Note:
<b>note:</b> present value of external debt in current US dollars
Exchange rates
Currency:
Rwandan francs (RWF) per US dollar -
Exchange rates 2020:
943.278 (2020 est.)
Exchange rates 2021:
988.625 (2021 est.)
Exchange rates 2022:
1,030.308 (2022 est.)
Exchange rates 2023:
1,160.099 (2023 est.)
Exchange rates 2024:
1,318.128 (2024 est.)
Exports
$4.39 billion
Exports 2021:
$2.11 billion (2021 est.)
Exports 2022:
$2.993 billion (2022 est.)
Exports 2023:
$3.509 billion (2023 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
gold, rare earth ores, coffee, tea, tin ores (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
UAE 66%, China 10%, USA 3%, Kenya 3%, Thailand 2% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$572.93 million
GDP - composition, by end use
Exports of goods and services:
30.8% (2024 est.)
Government consumption:
17.1% (2024 est.)
Household consumption:
64.9% (2024 est.)
Imports of goods and services:
-39.1% (2024 est.)
Investment in fixed capital:
29.1% (2024 est.)
Investment in inventories:
-3.2% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
24.6% (2024 est.)
Industry:
21% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
47.6% (2024 est.)
GDP (official exchange rate)
$14.252 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$1,000
Gini Index coefficient - distribution of family income
43.7 (2016)
Gini Index coefficient - distribution of family income 2016:
43.7 (2016 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$13.9 billion
GNI per capita
$1,040
Gross domestic investment
26 % of GDP
Household income or consumption by percentage share
Highest 10%:
35.6% (2016 est.)
Lowest 10%:
2.4% (2016 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$5.58 billion
Imports 2021:
$3.856 billion (2021 est.)
Imports 2022:
$4.978 billion (2022 est.)
Imports 2023:
$5.783 billion (2023 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
broadcasting equipment, fish, corn, packaged medicine, plastic products (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
China 19%, Kenya 14%, Uganda 13%, Tanzania 9%, UAE 7% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
10% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes
Inflation rate (consumer prices)
1.77%
Inflation rate (consumer prices) 2022:
17.7% (2022 est.)
Inflation rate (consumer prices) 2023:
19.8% (2023 est.)
Inflation rate (consumer prices) 2024:
1.8% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
5.671 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
5.84 million persons
Labor force - by occupation
agriculture:
35.05%
industry:
18.41%
services:
46.54%
Population below poverty line
38.2% (2016 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Public debt 2016:
37.3% of GDP (2016 est.)
Real GDP (purchasing power parity)
$52.9 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$39.485 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$42.743 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$46.543 billion (2024 est.)
Real GDP growth rate
8.89%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
8.2% (2022 est.)
Real GDP growth rate 2023:
8.2% (2023 est.)
Real GDP growth rate 2024:
8.9% (2024 est.)
Real GDP per capita
$3,711
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$2,900 (2022 est.)
Real GDP per capita 2023:
$3,100 (2023 est.)
Real GDP per capita 2024:
$3,300 (2024 est.)
Remittances
$517.04 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
3.5% of GDP (2021 est.)
Remittances 2022:
3.6% of GDP (2022 est.)
Remittances 2023:
3.6% of GDP (2023 est.)
Reserves of foreign exchange and gold
$2.41 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$1.726 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$1.834 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$2.406 billion (2024 est.)
Revenue (excl grants)
19 % of GDP
Tax revenue
14 % of GDP
Taxes and other revenues
13.5% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
11.36%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
15.1% (2022 est.)
Unemployment rate 2023:
12.4% (2023 est.)
Unemployment rate 2024:
12% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
19.4% (2024 est.)
Male:
15.8% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
17.5% (2024 est.)
World Bank Indicators
Currency
Rwandan franc (RWF) Fr (2025)
Gini Index
43.70 (2016)
Languages
English, French, Kinyarwanda (2025)
Economic Rankings
Unemployment Rate
#18
GDP Growth Rate
#27
Inflation Rate
#30
Gini Index
#41
External Debt
#62
Reserves
#123
GDP (PPP)
#129
GDP (Nominal)
#142
Exports
#144
Imports
#145
GDP per Capita
#165
Quick Facts
Industries
cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes
Agricultural products
bananas, cassava, sweet potatoes, plantains, potatoes, maize, beans, pumpkins/squash, taro, sorghum (2023)
Labor force
5.671 million (2024 est.)
Exports - partners
UAE 66%, China 10%, USA 3%, Kenya 3%, Thailand 2% (2023)
Imports - partners
China 19%, Kenya 14%, Uganda 13%, Tanzania 9%, UAE 7% (2023)
Exchange rates
Rwandan francs (RWF) per US dollar -
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