| Economy | Rwanda |
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Economy - overview:
|
Rwanda is a poor rural country with about 90% of the population engaged in (mainly subsistence) agriculture. It is the most densely populated country in Africa and is landlocked with few natural resources and minimal industry. Primary foreign exchange earners are coffee and tea. The 1994 genocide decimated Rwanda's fragile economic base, severely impoverished the population, particularly women, and eroded 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, although poverty levels are higher now. GDP has rebounded and inflation has been curbed. Despite Rwanda's fertile ecosystem, food production often does not keep pace with population growth, requiring food imports. Rwanda continues to receive substantial aid money and obtained IMF-World Bank Heavily Indebted Poor Country (HIPC) initiative debt relief in 2005-06. Rwanda also received Millennium Challenge Account Threshold status in 2006. 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, although energy shortages, instability in neighboring states, and lack of adequate transportation linkages to other countries continue to handicap growth. |
GDP (purchasing power parity):
|
$9.061 billion (2008 est.)
$8.429 billion (2007)
$7.952 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$900 (2008 est.)
$900 (2007 est.)
$800 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$4.027 billion (2008 est.) |
GDP - real growth rate:
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7.5% (2008 est.)
6% (2007 est.)
5.5% (2006 est.) |
GDP - composition by sector:
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agriculture: 35%
industry: 22.1%
services: 42.9% (2008 est.) |
Investment (gross fixed):
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22.5% of GDP (2008 est.) |
Population below poverty line:
|
60% (2001 est.) |
Household income or consumption by percentage share:
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lowest 10%: 2.1%
highest 10%: 38.2% (2000) |
Distribution of family income - Gini index:
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46.8 (2000) |
Inflation rate (consumer prices):
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9.5% (2008 est.) |
Central bank discount rate:
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12.5% (31 December 2007) |
Commercial bank prime lending rate:
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15.84% (31 December 2007) |
Stock of money:
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$233.6 million (31 December 2005) |
Stock of money - per capita:
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23 USD per capita |
Stock of quasi money:
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$227.4 million (31 December 2005) |
Stock of quasi money - per capita:
|
22 USD per capita |
Stock of domestic credit:
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$209.2 million (31 December 2005) |
Stock of domestic credit - per capita:
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20 USD per capita |
Labor force:
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4.6 million (2000) |
Labor force participation rate:
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43.92 % of population |
Labor force - by occupation:
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agriculture: 90%
industry and services: 10% (2000) |
Unemployment rate:
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NA% |
Budget:
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revenues: $902.2 million
expenditures: $1.032 billion; including capital expenditures of $NA (2008 est.) |
Budget revenues per capita:
|
87 USD per capita |
Public debt:
|
void |
Industries:
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cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes |
Industrial production growth rate:
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8% (2008 est.) |
Electricity - production:
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134 million kWh (2006 est.) |
Electricity - production per capita:
|
13 kWh per capita |
Electricity - consumption:
|
234.6 million kWh (2006 est.) |
Electricity - consumption - per capita:
|
23 kWh per capita |
Electricity - exports:
|
10 million kWh (2007 est.) |
Electricity - imports:
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130 million kWh (2007 est.) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
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5,320 bbl/day (2006 est.) |
Oil - consumption - per capita:
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0.19 bbl/year per capita |
Oil - exports:
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0 bbl/day (2005) |
Oil - imports:
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5,597 bbl/day (2005) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
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0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
56.63 billion cu m (1 January 2008 est.) |
Agriculture - products:
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coffee, tea, pyrethrum (insecticide made from chrysanthemums), bananas, beans, sorghum, potatoes; livestock |
Current account balance:
|
-$220 million (2008 est.) |
Current account balance - per capita:
|
-21 USD per capita |
Exports:
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$219 million f.o.b. (2008 est.) |
Exports per capita:
|
21 USD per capita |
Exports - commodities:
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coffee, tea, hides, tin ore |
Exports - partners:
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China 8.9%, Germany 6.8%, US 4.9%, Hong Kong 4.8% (2007) |
Imports:
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$759 million f.o.b. (2008 est.) |
Imports per capita:
|
73 USD per capita |
Imports - commodities:
|
foodstuffs, machinery and equipment, steel, petroleum products, cement and construction material |
Imports - partners:
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Kenya 19.6%, Uganda 6.9%, Germany 6.2%, Belgium 5.9%, China 5% (2007) |
Reserves of foreign exchange and gold:
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$657 million (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
63 USD per capita |
Debt - external:
|
$1.4 billion (2004 est.) |
Debt - external - per capita:
|
134 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$576 million (2005) |
Economic aid - recipient per capita:
|
55 USD per capita |
Currency (code):
|
Rwandan franc (RWF) |
Exchange rates:
|
Rwandan francs (RWF) per US dollar - 550 (2008 est.), 585 (2007), 560 (2006), 610 (2005), 574.62 (2004) |
Fiscal year:
|
calendar year |
|
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