Includes Rwanda real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Rwanda economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Rwanda best banks and safest banks are also available.
Basic Information
Government Type: Presidential republic
Capital City: Kigali
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
National Bank of Rwanda |
---|---|
Currency |
Rwandan francs (RWF) |
International Reserves |
USD 0.9 billion (2018) |
Gross Domestic Product – GDP |
USD 9.5 billion (2018, estimate) |
GDP (Purchasing Power Parity) |
Intl$ 27.4 billion (2018, estimate) |
GDP Data
Real GDP growth |
2014: 7.6% 2015: 8.9% 2016: 6.0% 2017*: 6.2% 2018*: 8.6% (*Estimate) |
---|---|
GDP per capita – current prices |
USD 791.3 (2018, estimate) |
GDP per capita – PPP |
Intl$ 2,280.1 (2018, estimate) |
GDP (PPP) – share of world total |
0.02% (2019, estimate) |
GDP – composition by sector |
agriculture: 29.0% industry: 16.2% services: 47.8% (2016 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2014: 2.5% 2015: 5.7% 2016: 4.8% 2017*: 1.4% 2018*: 3.5% (*Estimate) |
Rwanda
Inflation & Debt
Inflation |
2014: 2.5% 2015: 5.7% 2016: 4.8% 2017*: 1.4% 2018*: 3.5% (*Estimate) |
---|---|
Government Bond Ratings |
Standard & Poor’s: B+ Moody’s: B2 Standard & Poor’s / Moody’s (Updated January 2017) |
Unemployment rate |
N/A |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2014: 29.7% 2015: 32.9% 2016: 36.5% 2017*: 40.7% 2018*: 49.1% (*Estimate) |
Public deficit (General government net lending/borrowing as a % of GDP) |
2014: -2.8% 2015: -2.3% 2016: -2.5% 2017*: -2.6% 2018*: -3.7% (*Estimate) |
Market value of publicly traded shares | N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
14.4% (2015) |
---|---|
Shares in world total merchandising export |
0.004% (2015) |
Shares in world total commercial services export |
0.007% (2015) |
Total exports |
USD 674.9 million (2016 estimate) |
Export commodities |
Coffee, tea, hides, tin ore |
Total imports |
USD 2.0 billion (2016 estimate) |
Import commodities |
Foodstuffs, machinery and equipment, steel, petroleum products, cement and construction material |
Exports – major partners |
Democratic Republic of the Congo 19.8%, US 10.8%, China 10.3%, Swaziland 7.9%, Malaysia 7%, Pakistan 6.2%, Germany 5.9%, Thailand 5.5% (2015) |
Imports – major partners |
Uganda 15.7%, Kenya 11.8%, India 8.7%, China 8.7%, UAE 8.6%, Russia 6.6%, Tanzania 5.1% (2015) |
Competitiveness & Trade
Current account balance |
USD -1.0 billion (2017 estimate) |
---|---|
Current account balance by percentage of GDP |
-11.9% (2017 estimate) |
FDI inflows |
2013: USD 258 million 2014: USD 459 million 2015: USD 471 million |
FDI Outflows |
2013: USD 13.5 million 2014: USD 1.7 million 2015: N/A |
Value of cross-border M&A, by country of purchaser |
2012: N/A 2013: N/A 2014: N/A 2015: USD 0.2 million |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 56 out of 190 countries (2017) Subcategories: Starting a business: 76 out of 190 countries Enforcing Contracts: 95 out of 190 countries Registering Property: 4 out of 190 countries Getting Credit: 2 out of 190 countries Protecting Minority Investors: 102 out of 190 countries Trading Across Borders: 87 out of 190 countries Paying Taxes: 59 out of 190 countries Dealing with Construction Permits: 158 out of 190 countries Getting Electricity: 117 out of 190 countries Resolving Insolvency: 73 out of 190 countries |
Global competitiveness ranking |
52 out of 138 countries (2016-2017) |
Index of Economic Freedom |
Ranking: 71 / Score: 63.07 (Moderately free) (2016) (100=totally free 0=totally repressed) |
Population & Geographic Data
Time Zone |
UTC+2 |
---|---|
Total Area |
26,338 sq km |
Total Population |
1990: 6.45 million 2000: 7.5 million 2010: 10.0 million 2015: 11.26 million 2020*: 12.67 million (*Estimate) |
Urban population as % of total population |
1960: 2.6% 1980: 4.7% 2000: 14.9% 2018: 17.2% |
Population median age |
19.2 years (2019 estimate) |
Population growth rate |
2.3% (2018 estimate) |
Life expectancy |
64.5 years (2018 estimate) |
% of population living on less than $3.10 a day |
79.7% (last available estimate, 2016) |
Inequality of wealth distribution (Gini index) |
43.7 (last available estimate, 2016) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Political Rights: 6 Civil Liberties: 6 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 0.1% Mobile: 78.9% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
21.77 % (2017) |
Language & Religon
Languages |
Kinyarwanda (official, universal Bantu vernacular) 93.2%, French (official) <.1, English (official) <.1, Swahili/Kiswahili (official, used in commercial centers) <.1, more than one language, other 6.3%, unspecified 0.3% (2002 est.) |
---|---|
Literacy |
Total population: 70.5% Male: 73.2% Female: 68% Definition: age 15 and over can read and write (2015 est.) |
Religions |
Protestant 49.5% (includes Adventist 11.8% and other Protestant 37.7%), Roman Catholic 43.7%, Muslim 2%, other 0.9% (includes Jehovah’s Witness), none 2.5%, unspecified 1.3%(2012 est.) |
World Rankings
Population | 12.67 M |
---|---|
Mercer Cost of living index |
Kigali: 175th (2019) |
C02 Emissions per capita |
0.08 metric tons per capita (2014) |
Global Finance Rankings & Awards: Rwanda
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000