Rwanda - Economy
How is the economy of Rwanda? Based on the information we have, Rwanda has a fast-growing Sub-Saharan economy; major public investments; trade and tourism hit hard by COVID-19; increasing poverty after 2 decades of declines; Ugandan competition for regional influence; major coffee exporter; contested GDP figures. Key agricultural products in this country include: bananas, cassava, sweet potatoes, potatoes, plantains, maize, beans, pumpkins/squash, taro, sorghum (2022).
More about the economy of Rwanda
Labor force 5.283 million (2023 est.)
Industrial production growth rate 10.25% (2023 est.)
Industries cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes
Population below poverty line 38.2% (2016 est.)
Taxes and other revenues 15.07% (of GDP) (2020 est.)
Fiscal year
Exchange rates
Currency Rwandan francs (RWF) per US dollar -
Exchange rates 2023 1,160.099 (2023 est.)
Exchange rates 2022 1,030.308 (2022 est.)
Exchange rates 2021 988.625 (2021 est.)
Exchange rates 2020 943.278 (2020 est.)
Exchange rates 2019 899.351 (2019 est.)
Debt - external
Debt - external 2022 $4.254 billion (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $1.834 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $1.726 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $1.867 billion (2021 est.)
Current account balance
Current account balance 2023 -$1.654 billion (2023 est.)
Current account balance 2022 -$1.246 billion (2022 est.)
Current account balance 2021 -$1.209 billion (2021 est.)
Public debt
Public debt 2017 40.5% of GDP (2017 est.)
Budget
Revenues $2.676 billion (2020 est.)
Expenditures $2.191 billion (2020 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 3.93% of GDP (2023 est.)
Remittances 2022 3.56% of GDP (2022 est.)
Remittances 2021 3.53% of GDP (2021 est.)
Household income
Lowest 10% 2.4% (2016 est.)
Highest 10% 35.6% (2016 est.)
Imports
Imports 2023 $5.783 billion (2023 est.)
Imports 2022 $4.978 billion (2022 est.)
Imports 2021 $3.856 billion (2021 est.)
Imports (partners) China 19%, Tanzania 11%, Kenya 10%, UAE 10%, India 7% (2022)
Comodities Imports force refined petroleum, gold, palm oil, rice, raw sugar (2022)
Exports
Imports 2023 $5.783 billion (2023 est.)
Imports 2022 $4.978 billion (2022 est.)
Imports 2021 $3.856 billion (2021 est.)
Exports (partners) UAE 32%, Democratic Republic of the Congo 25%, Thailand 5%, US 3%, Ethiopia 3% (2022)
Comodities Exports force gold, tin ores, coffee, malt extract, rare earth ores (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $42.701 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $39.45 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $36.474 billion (2021 est.)
GDP (official exchange rate) $14.098 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $3,000 (2023 est.)
Real GDP per capita 2022 $2,900 (2022 est.)
Real GDP per capita 2021 $2,700 (2021 est.)
GDP - composition, by sector of origin
Agriculture 27.1% (2023 est.)
Industry 21.5% (2023 est.)
Services 44.3% (2023 est.)
GDP - composition, by end use
Household consumption 75.3% (2023 est.)
Government consumption 16.6% (2023 est.)
Investment in fixed capital 27.1% (2023 est.)
Investment in inventories -3.8% (2023 est.)
Exports of goods and services 25.4% (2023 est.)
Imports of goods and services -40.6% (2023 est.)
Unemployment rate
Unemployment rate 2023 14.93% (2023 est.)
Unemployment rate 2022 15.09% (2022 est.)
Unemployment rate 2021 15.79% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 22% (2023 est.)
Male 20.8% (2023 est.)
Female 23.3% (2023 est.)
All Important Facts about Rwanda

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Rwanda is found in Eastern Africa