Economy
Rwanda
Budget
revenues
$3.41 billion (2023 est.)
expenditures
$3.996 billion (2023 est.)
Exports
Exports 2021
$2.11 billion (2021 est.)
Exports 2022
$2.993 billion (2022 est.)
Exports 2023
$3.509 billion (2023 est.)
Imports
Imports 2021
$3.856 billion (2021 est.)
Imports 2022
$4.978 billion (2022 est.)
Imports 2023
$5.783 billion (2023 est.)
Industries
cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes
Labor force
5.671 million (2024 est.)
Public debt
Public debt 2016
37.3% of GDP (2016 est.)
Remittances
Remittances 2021
3.5% of GDP (2021 est.)
Remittances 2022
3.6% of GDP (2022 est.)
Remittances 2023
3.6% of GDP (2023 est.)
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.)
Debt - external
Debt - external 2023
$5.531 billion (2023 est.)
Economic overview
economy situated in low-income Sub-Saharan region; growth driven by sectors of services, industry, and agriculture; government expenditure on human capital, energy, and healthcare has increased; significant infrastructure initiatives such as the Bugesera Airport are aimed at supporting sustainable growth; challenges faced include limited economic diversification, elevated inflation, and a substantial current account deficit.
Unemployment rate
Unemployment rate 2022
15.1% (2022 est.)
Unemployment rate 2023
12.4% (2023 est.)
Unemployment rate 2024
12% (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)
Real GDP per capita
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.)
Real GDP growth rate
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.)
Agricultural products
bananas, cassava, sweet potatoes, plantains, potatoes, maize, beans, pumpkins/squash, taro, sorghum (2023)
Exports - commodities
gold, rare earth ores, coffee, tea, tin ores (2023)
Imports - commodities
broadcasting equipment, fish, corn, packaged medicine, plastic products (2023)
Current account balance
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.)
Taxes and other revenues
13.5% (of GDP) (2023 est.)
GDP (official exchange rate)
$14.252 billion (2024 est.)
GDP - composition, by end use
household consumption
64.9% (2024 est.)
government consumption
17.1% (2024 est.)
investment in inventories
-3.2% (2024 est.)
investment in fixed capital
29.1% (2024 est.)
exports of goods and services
30.8% (2024 est.)
imports of goods and services
-39.1% (2024 est.)
Population below poverty line
38.2% (2016 est.)
Inflation rate (consumer prices)
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.)
Industrial production growth rate
10% (2024 est.)
Real GDP (purchasing power parity)
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.)
Youth unemployment rate (ages 15-24)
male
15.8% (2024 est.)
total
17.5% (2024 est.)
female
19.4% (2024 est.)
Reserves of foreign exchange and gold
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.)
GDP - composition, by sector of origin
industry
21% (2024 est.)
services
47.6% (2024 est.)
agriculture
24.6% (2024 est.)
Household income or consumption by percentage share
lowest 10%
2.4% (2016 est.)
highest 10%
35.6% (2016 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2016
43.7 (2016 est.)