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Rwanda Economy 2017
http://www.theodora.com/wfbcurrent/rwanda/rwanda_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Rwanda Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Rwanda is a rural country with about 90% of the population engaged in subsistence agriculture and some mineral and agro-processing. Tourism, minerals, coffee and tea are Rwanda's main sources of foreign exchange. Despite Rwanda's fertile ecosystem, food production often does not keep pace with demand, requiring food imports. Energy shortages, instability in neighboring states, and lack of adequate transportation linkages to other countries continue to handicap private sector growth.The 1994 genocide decimated Rwanda's fragile economic base, severely impoverished the population, particularly women, and temporarily stalled the country's ability to attract private and external investment. However, Rwanda has made substantial progress in stabilizing and rehabilitating its economy to pre-1994 levels. GDP has rebounded with an average annual growth of 7%-8% since 2003 and inflation has been reduced to single digits. Nonetheless, in 2015, 39% of the population lived below the poverty line, according to government statistics, compared to 57% in 2006.Africa's most densely populated country is trying to overcome the limitations of its small, landlocked economy by leveraging regional trade; Rwanda joined the East African Community and is aligning its budget, trade, and immigration policies with its regional partners. The government has embraced an expansionary fiscal policy to reduce poverty by improving education, infrastructure, and foreign and domestic investment, and pursuing market-oriented reforms. In recognition of Rwanda's successful management of its macro economy, in 2010, the IMF graduated Rwanda to a Policy Support Instrument.The Rwandan Government is seeking to become a regional leader in information and communication technologies. In 2012, Rwanda completed the first modern Special Economic Zone (SEZ) in Kigali. The SEZ seeks to attract investment in all sectors, but specifically in agribusiness, information and communications, trade and logistics, mining, and construction.

GDP (purchasing power parity):
$21.97 billion (2016 est.) $20.73 billion (2015 est.) $19.39 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 142
[see also: GDP country ranks ]

GDP (official exchange rate):
$8.341 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6% (2016 est.) 6.9% (2015 est.) 7% (2014 est.)
country comparison to the world: 21
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,900 (2016 est.) $1,800 (2015 est.) $1,800 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 208
[see also: GDP - per capita country ranks ]

Gross national saving:
12.9% of GDP (2016 est.) 12.8% of GDP (2015 est.) 15.6% of GDP (2014 est.)
country comparison to the world: 134
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 77.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 11.4%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 26.4%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.6%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 13.6%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -29.8% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 34.6%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 15.1%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 50.3% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
coffee, tea, pyrethrum (insecticide made from chrysanthemums), bananas, beans, sorghum, potatoes; livestock

Industries:
cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes

Industrial production growth rate:
6.9% (2016 est.)
country comparison to the world: 18
[see also: Industrial production growth rate country ranks ]

Labor force:
6.03 million (2016 est.)
country comparison to the world: 70
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 90%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 10% (2000)

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
39.1% (2015 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 43.2% (2011 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
46.8 (2000) 28.9 (1985)
country comparison to the world: 30
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $1.865 billion
[see also: Budget revenues country ranks ]
expenditures: $2.279 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
22.4% of GDP (2016 est.)
country comparison to the world: 133
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-5% of GDP (2016 est.)
country comparison to the world: 159
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
36.6% of GDP (2016 est.) 33.9% of GDP (2015 est.)
country comparison to the world: 127
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
4.6% (2016 est.) 2.5% (2015 est.)
country comparison to the world: 173
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
7.75% (31 December 2010) 11.25% (31 December 2008)
country comparison to the world: 42
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
17.3% (31 December 2016 est.) 17.33% (31 December 2015 est.)
country comparison to the world: 27
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$957.3 million (31 December 2016 est.) $1.013 billion (31 December 2015 est.)
country comparison to the world: 154
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.817 billion (31 December 2016 est.) $1.64 billion (31 December 2015 est.)
country comparison to the world: 159
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.891 billion (31 December 2016 est.) $1.337 billion (31 December 2015 est.)
country comparison to the world: 141
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.385 billion (2016 est.) -$1.096 billion (2015 est.)
country comparison to the world: 138
[see also: Current account balance country ranks ]

Exports:
$674.9 million (2016 est.) $683.7 million (2015 est.)
country comparison to the world: 167
[see also: Exports country ranks ]

Exports - commodities:
coffee, tea, hides, tin ore

Exports - 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:
$1.961 billion (2016 est.) $1.917 billion (2015 est.)
country comparison to the world: 161
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery and equipment, steel, petroleum products, cement and construction material

Imports - partners:
Uganda 15.7%, Kenya 11.8%, India 8.7%, China 8.7%, UAE 8.6%, Russia 6.6%, Tanzania 5.1% (2015)

Reserves of foreign exchange and gold:
$756.3 million (31 December 2016 est.) $1.03 billion (31 December 2015 est.)
country comparison to the world: 134
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$2.442 billion (31 December 2016 est.) $2.178 billion (31 December 2015 est.)
country comparison to the world: 145
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$1.779 billion (31 December 2016 est.) $1.484 billion (31 December 2015 est.)
country comparison to the world: 110
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$25.6 million (31 December 2016 est.) $25.6 million (31 December 2015 est.)
country comparison to the world: 103
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Rwandan francs (RWF) per US dollar - 787.9 (2016 est.) 720.54 (2015 est.) 720.54 (2014 est.) 680.95 (2013 est.) 616.6 (2012 est.)


NOTE: The information regarding Rwanda on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Rwanda Economy 2017 information contained here. All suggestions for corrections of any errors about Rwanda Economy 2017 should be addressed to the CIA.




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