Economy of Rwanda
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. Kigali's high defense expenditures have caused tension between the government and international donors and lending agencies. Energy shortages, instability in neighboring states, and lack of adequate transportation linkages to other countries continue to handicap growth.
GDP
Real Growth Rate
6%
Per Capita
USD 1,600
From Agriculture
39%
From Industry
23%
From Services
37%
Labour Force
Available for Work
Unknown
Working in Agriculture
0%
Working in Industry
0%
Working in Services
0%
Unemployment Rate
0%
Population Below Poverty Line
60%
Inflation Rate
7%
Investment as Percent of GDP
20%
Budget
Revenues
USD 561 (m)
Expenditures
USD 654 (m)
Public Debt
US$ 0.00 (m)
Agricultural Products
Coffee, tea, pyrethrum (insecticide made from chrysanthemums), bananas, beans, sorghum, potatoes; livestock
Core Industries
Cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes
Exports
Value
USD 135 (m)
Commodities
Coffee, tea, hides, tin ore
Partners
Germany 11%, China 6.5%, Belgium 4.5% (2005)
Imports
Value
USD 390 (m)
Commodities
Foodstuffs, machinery and equipment, steel, petroleum products, cement and construction material
Partners
Kenya 18.9%, Uganda 6.6%, Belgium 5.8%, Germany 5.6%, Israel 4.3% (2005)
External Debt
USD 1,400 (m)
Fiscal Year
Fiscal year
