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Economy of Rwanda

Economy of Rwanda
Kigali, the financial centre of Rwanda
CurrencyRwandan franc (RWF, FRw)
calendar year
Trade organisations
AU, AfCFTA, WTO, ECCAS, EAC, COMESA
Country group
Statistics
PopulationNeutral increase 13,798,561 (2024 proj.)[3]
GDP
  • Increase $14.02 billion (nominal; 2025 est.)[4]
  • Increase $56.31 billion (PPP; 2025 est.)[4]
GDP rank
GDP growth
  • 8.2% (2022) 8.2% (2023)
  • 7% (2024e) 6.5% (2025e)
  • 6.8% (2026e)[4]
GDP per capita
  • Increase $990 (nominal, 2025 est.)[4]
  • Increase $3,980 (PPP, 2025.)[4]
GDP per capita rank
GDP by sector
4.9% (2024 est.)[4]
Population below poverty line
  • 38.2% (2016 est.)[5]
  • 52% on less than $1.90/day (2016 est.)[6]
43.7 medium (2016)[7]
Labour force
  • Increase 5,258,826 (2023)[10]
  • Increase 64.1% employment rate (Q3, 2024)[11]
Labour force by occupation
UnemploymentPositive decrease 15.3% (Q3, 2024)[11]
Main industries
cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes
External
ExportsIncrease $3.509 billion (2023 est.)[5]
Export goods
gold, tin ores, coffee, malt extract, rare earth ores
Main export partners
ImportsIncrease $5.783 billion (2023 est.)[5]
Import goods
refined petroleum, gold, palm oil, rice, raw sugar
Main import partners
FDI stock
  • Increase $2.378 billion (31 December 2017 est.)
  • Increase Abroad: $113.2 million (31 December 2017 est.)[5]
Decrease −$1.654 billion (2023 est.)[5]
Negative increase $4.254 billion (2022 est.)[5]
Public finances
Negative increase 71.4% of GDP (2017 est.)[4]
Increase $1.834 billion (2023 est.)[5]
−7.3% (of GDP) (2024 est.)[4]
Revenues2.676 billion (2020 est.)[5]
Expenses2.191 billion (2020 est.)[5]
Economic aidrecipient: $285 Million (2015)
All values, unless otherwise stated, are in US dollars.

The economy of Rwanda has undergone rapid industrialisation due to a successful governmental policy. It has a mixed economy.[12] Since the early-2000s, Rwanda has witnessed an economic boom, which improved the living standards of many Rwandans. The President of Rwanda, Paul Kagame, has noted his ambition to make Rwanda the "Singapore of Africa".[13] The industrial sector is growing, contributing 16% of GDP in 2012.[14]

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Archived from the original on 10 October 2020. Retrieved 29 September 2019.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Archived from the original on 28 October 2019. Retrieved 29 September 2019.
  3. ^ "Size of the resident population". statistics.gov.rw. National Institute of Statistics of Rwanda. Archived from the original on 13 November 2019. Retrieved 5 November 2019.
  4. ^ a b c d e f g h "IMF DataMapper: Rwanda". International Monetary Fund. World Economic Outlook, April 2023.
  5. ^ a b c d e f g h i j k l m "The World Factbook". CIA.gov. Central Intelligence Agency. Archived from the original on 9 January 2021. Retrieved 2 February 2019.
  6. ^ "Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) - Rwanda". data.worldbank.org. World Bank. Archived from the original on 11 December 2019. Retrieved 11 December 2019.
  7. ^ "GINI Index (World Bank Estimate)". data.worldbank.org. World Bank. Archived from the original on 12 May 2019. Retrieved 12 May 2019.
  8. ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 15 December 2019. Retrieved 23 November 2022.
  9. ^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 12 December 2020. Retrieved 23 November 2022.
  10. ^ "Labor force, total - Rwanda". data.worldbank.org. World Bank. Archived from the original on 31 July 2020. Retrieved 5 November 2019.
  11. ^ a b "Key findings: Labour Force Survey – Quarter 3, 2024". statistics.gov.rw. National Institute of Statistics of Rwanda. Retrieved 12 June 2024.
  12. ^ "Rwanda: Introduction". globaledge.msu.edu. Archived from the original on 2022-07-04. Retrieved 2022-08-18.
  13. ^ "Singapore's visionary draws followers in Africa". Reuters. 24 March 2015. Archived from the original on 4 January 2018. Retrieved 4 January 2018.
  14. ^ Cite error: The named reference MINAGRI Annual Report 2018-2019 was invoked but never defined (see the help page).
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