Economy Of Rwanda
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Economy overview
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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; 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. Export earnings, however, have been hindered by low beverage prices, depriving the country of much needed hard currency. Attempts to diversify into non-traditional agriculture exports such as flowers and vegetables have been stymied by a lack of adequate transportation infrastructure. Despite Rwanda's fertile ecosystem, food production often does not keep pace with population growth, requiring food to be imported. Rwanda continues to receive substantial aid money and was approved for IMF-World Bank Heavily Indebted Poor Country (HIPC) initiative debt relief in late 2000. But Kigali's high defense expenditures cause tension between the government and international donors and lending agencies.
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GDP
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purchasing power parity - $10.11 billion (2004 est.)
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GDP - real growth rate
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3.5% (2004 est.)
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GDP - per capita
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purchasing power parity - $1,300 (2004 est.)
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GDP - composition by sector
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agriculture: 40.7%
industry: 21.5%
services: 37.8% (2004 est.)
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Investment gross fixed
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19.3% of GDP (2004 est.)
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Population below poverty line
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60% (2001 est.)
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Household income or consumption by percentage share
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lowest 10%: 4.2%
highest 10%: 24.2% (1985)
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Distribution of family income - Gini index
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28.9 (1985)
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Inflation rate consumer prices
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7.5% (2004 est.)
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Labor force
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4.6 million (2000)
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Labor force by occupation
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agriculture 90%
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Unemployment rate
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NA
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Budget
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revenues: $365.9 million
expenditures: $402.9 million, including capital expenditures of $NA (2004 est.)
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Public debt
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Agriculture products
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coffee, tea, pyrethrum (insecticide made from chrysanthemums), bananas, beans, sorghum, potatoes; livestock
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Industries
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cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes
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Industrial production growth rate
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7% (2001 est.)
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Electricity production
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96.78 million kWh (2001)
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Electricity production by source
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fossil fuel: 2.3%
hydro: 97.7%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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140 million kWh (2001)
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Electricity exports
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0 kWh (2001)
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Electricity imports
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50 million kWh (2001)
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Oil production
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0 bbl/day (2001 est.)
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Oil consumption
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5,300 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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0 bbl (1 January 2002)
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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28.32 billion cu m (1 January 2002)
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Current account balance
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$-163 million (2004 est.)
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Exports
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$73.33 million f.o.b. (2004 est.)
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Exports commodities
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coffee, tea, hides, tin ore
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Exports partners
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Indonesia 39.2%, Germany 4.6%, China 3.9% (2003)
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Imports
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$245.8 million f.o.b. (2003 est.)
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Imports commodities
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foodstuffs, machinery and equipment, steel, petroleum products, cement and construction material
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Imports partners
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Kenya 23.3%, Germany 7.5%, Belgium 6.4%, Uganda 6.4%, France 5% (2003)
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Reserves of foreign exchange gold
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$215 million (2004 est.)
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Debt external
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$1.3 billion (2000 est.)
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Economic aid recipient
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$372.9 million (1999)
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Currency
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Rwandan franc (RWF)
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Currency code
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RWF
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Exchange rates
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Rwandan francs per US dollar - 537.658 (2003), 476.327 (2002), 442.801 (2001), 389.696 (2000), 333.942 (1999)
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Fiscal year
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calendar year
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This information was reproduced in part from the CIA World Fact book.
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