Browse a full set of economic indicators

Rwanda

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)

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

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