unbekannter Gast

Rwanda: Economy#

Rwanda is a poor rural country with about 90% of the population engaged in (mainly subsistence) agriculture and some mineral and agro-processing. Tourism, minerals, coffee and tea are Rwanda's main sources of foreign exchange. 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, a significant percent of the population still live below the official poverty line. Despite Rwanda's fertile ecosystem, food production often does not keep pace with demand, 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. In recognition of Rwanda's successful management of its macro economy, in 2010, the IMF graduated Rwanda to a Policy Support Instrument (PSI). Rwanda also received a Millennium Challenge Threshold Program in 2008. 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. Energy shortages, instability in neighboring states, and lack of adequate transportation linkages to other countries continue to handicap private sector growth. The Rwandan Government is seeking to become regional leader in information and communication technologies. In 2010, Rwanda neared completion of 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 technologies, trade and logistics, mining, and construction. The global downturn hurt export demand and tourism, but economic growth has recovered, driven in large part by the services sector, but inflation has grown. On the back of this growth, government is gradually ending its fiscal stimulus policy while protecting aid to the poor.

Economic Facts#

GDP (purchasing power parity)$16.37 billion (2013 est.)
$15.23 billion (2012 est.)
$14.1 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate7.5% (2013 est.)
8% (2012 est.)
8.2% (2011 est.)
GDP - per capita (PPP)$1,500 (2013 est.)
$1,500 (2012 est.)
$1,400 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 31.9%
industry: 14.8%
services: 53.3% (2013 est.)
Population below poverty line44.9% (2011 est.)
Household income or consumption by percentage sharelowest 10%: 2.1%
highest 10%: 43.2% (2011 est.)
Labor force - by occupationagriculture: 90%
industry and services: 10% (2000)
Exports - commoditiescoffee, tea, hides, tin ore
Exports - partnersKenya 30.5%, Democratic Republic of the Congo 12.2%, China 12.1%, Malaysia 10.7%, US 5.8%, Swaziland 4.9% (2012)
Agriculture - productscoffee, tea, pyrethrum (insecticide made from chrysanthemums), bananas, beans, sorghum, potatoes; livestock
Budgetrevenues: $1.814 billion
expenditures: $2.146 billion (2013 est.)
Imports - commoditiesfoodstuffs, machinery and equipment, steel, petroleum products, cement and construction material
Imports - partnersKenya 17.3%, Uganda 15.6%, UAE 8.9%, China 7.2%, India 5.6%, Tanzania 5%, Belgium 4.5%, Canada 4.1% (2012)
Exchange ratesRwandan francs (RWF) per US dollar -
633.6 (2013 est.)
616.6 (2012 est.)
583.13 (2010 est.)
568.18 (2009)
550 (2008)
Exports$538.3 million (2013 est.)
$512 million (2012 est.)
Debt - external$1.656 billion (31 December 2013 est.)
$1.153 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$1.937 billion (2013 est.)
$1.871 billion (2012 est.)
Industrial production growth rate6% (2013 est.)
Industriescement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes
Inflation rate (consumer prices)5.9% (2013 est.)
6.3% (2012 est.)
Labor force4.446 million (2007)
Unemployment rateNA%
Distribution of family income - Gini index46.8 (2000)
28.9 (1985)
Public debt23.5% of GDP (2013 est.)
21.7% of GDP (2012 est.)
Current account balance-$667.9 million (2013 est.)
-$569.2 million (2012 est.)
Reserves of foreign exchange and gold$1.354 billion (31 December 2013 est.)
$847.8 million (31 December 2012 est.)
GDP (official exchange rate)$7.7 billion (2013 est.)
Stock of direct foreign investment - at home$900.1 million (31 December 2013 est.)
$743.3 million (31 December 2012 est.)
Stock of direct foreign investment - abroad$12.9 million (31 December 2013 est.)
$12.9 million (31 December 2012 est.)
Market value of publicly traded shares$NA
Central bank discount rate7.75% (31 December 2010 est.)
11.25% (31 December 2008)
Commercial bank prime lending rate16.3% (31 December 2013 est.)
17.5% (31 December 2012 est.)
Stock of domestic credit$717.3 million (31 December 2013 est.)
$557 million (31 December 2012 est.)
Stock of narrow money$791.6 million (31 December 2013 est.)
$671.2 million (31 December 2012 est.)
Stock of broad money$1.445 billion (31 December 2013 est.)
$1.137 billion (31 December 2012 est.)
Taxes and other revenues23.6% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-4.3% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 88.2%
government consumption: 9%
investment in fixed capital: 21.2%
investment in inventories: 0%
exports of goods and services: 11.3%
imports of goods and services: -29.7%
(2013 est.)
Gross national saving12.6% of GDP (2013 est.)
14.8% of GDP (2012 est.)
14.1% of GDP (2011 est.)