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Rwanda Economy 2011
https://theodora.com/wfb2011/rwanda/rwanda_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 12, 2011

Economy - overview:
Rwanda is a poor rural country with about 90% of the population engaged in (mainly subsistence) agriculture and some mineral and agro-processing. In 2008, minerals overtook coffee and tea as Rwanda's primary foreign exchange earner. 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 and inflation has been curbed. Nonetheless, a majority still live below the poverty line of 250 Rwandan francs per day (about US$0.43). 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. Rwanda also received a Millennium Challenge Account Compact 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, although energy shortages, instability in neighboring states, and lack of adequate transportation linkages to other countries continue to handicap growth. The global downturn hurt export demand and tourism, but economic growth is recovering, driven in large part by the services sector, and inflation has been contained. On the back of this growth, government is gradually ending its fiscal stimulus policy while protecting aid to the poor.

GDP (purchasing power parity):
$11.84 billion (2010 est.)
country comparison to the world: 144

$11.17 billion (2009 est.)
$10.69 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$5.693 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6% (2010 est.)
country comparison to the world: 38

4.5% (2009 est.)
11.2% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,100 (2010 est.)
country comparison to the world: 212

$1,000 (2009 est.)
$1,000 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 42.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 14.3%
[see also: GDP - composition by sector - industry country ranks ]
services: 43.6% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
4.446 million (2007)
country comparison to the world: 81
[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:
60% (2001 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%: 38.2% (2000)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
46.8 (2000)
country comparison to the world: 35

28.9 (1985)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
20% of GDP (2009 est.)
country comparison to the world: 86
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $1.169 billion
[see also: Budget - revenues country ranks ]
expenditures: $1.366 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
6.4% (2010 est.)
country comparison to the world: 168

10.4% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
11.25% (31 December 2008)
country comparison to the world: 29

12.5% (31 December 2007)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
NA% (31 December 2009 est.)
country comparison to the world: 37

16.51% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$602.3 million (31 December 2010 est)

$537.6 million (31 December 2009 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.243 billion (31 December 2010 est.)

$1.068 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$600.4 million (31 December 2010 est.)
country comparison to the world: 162

$515.5 million (31 December 2009 est.)
[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 ]

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:
7.5% (2009 est.)
country comparison to the world: 34
[see also: Industrial production growth rate country ranks ]

Electricity - production:
120 million kWh (2007 est.)
country comparison to the world: 187
[see also: Electricity - production country ranks ]

Electricity - consumption:
231.6 million kWh (2007 est.)
country comparison to the world: 175
[see also: Electricity - consumption country ranks ]

Electricity - exports:
10 million kWh (2007)
[see also: Electricity - exports country ranks ]

Electricity - imports:
130 million kWh (2007 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 140
[see also: Oil - production country ranks ]

Oil - consumption:
6,000 bbl/day (2009 est.)
country comparison to the world: 162
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 156
[see also: Oil - exports country ranks ]

Oil - imports:
5,623 bbl/day (2007 est.)
country comparison to the world: 154
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 133
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 140
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 160
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 138
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 143
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
56.63 billion cu m (1 January 2010 est.)
country comparison to the world: 63
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$489 million (2010 est.)
country comparison to the world: 116

-$379 million (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$226 million (2010 est.)
country comparison to the world: 179

$193 million (2009 est.)
[see also: Exports country ranks ]

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

Exports - partners:
Kenya 33.88%, Democratic Republic of the Congo 13.56%, Thailand 6.22%, China 5.49%, US 5.47%, Swaziland 5.43%, Belgium 5.19% (2009)

Imports:
$1.047 billion (2010 est.)
country comparison to the world: 171

$961 million (2009 est.)
[see also: Imports country ranks ]

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

Imports - partners:
Kenya 16.53%, Uganda 14.92%, China 7.92%, UAE 6.89%, Belgium 5.54%, Germany 5.19%, Tanzania 4.81%, Sweden 4% (2009)

Reserves of foreign exchange and gold:
$816 million (31 December 2010 est.)
country comparison to the world: 113

$742.7 million (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$NA
[see also: Debt - external country ranks ]

Exchange rates:
Rwandan francs (RWF) per US dollar - 586.25 (2010), 568.176 (2009), 550 (2008), 585 (2007), 560 (2006)


NOTE: The information regarding Rwanda on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Rwanda Economy 2011 information contained here. All suggestions for corrections of any errors about Rwanda Economy 2011 should be addressed to the CIA.



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This page was last modified 09-Feb-11
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