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Rwanda Economy 2010
http://www.workmall.com/wfb2010/rwanda/rwanda_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Page last updated on January 19, 2010

Economy - overview:
Rwanda is a poor rural country with about 85% 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 while poor rains this year have lowered growth in agriculture.

GDP (purchasing power parity):
$10.39 billion (2009 est.)

$9.845 billion (2008 est.)
$8.854 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$5.011 billion (2009 est.)

GDP - real growth rate:
5.5% (2009 est.)

11.2% (2008 est.)
7.9% (2007 est.)

GDP - per capita (PPP):
$1,000 (2009 est.)

$900 (2008 est.)
$900 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 42.6%
industry: 22.2%
services: 35.2% (2009 est.)

Labor force:
4.446 million (2007)

Labor force - by occupation:
agriculture: 90%
industry and services: 10% (2000)

Unemployment rate:
NA% est.)

Population below poverty line:
60% (2001 est.)

Household income or consumption by percentage share:
lowest 10%: 2.1%
highest 10%: 38.2% (2000)

Distribution of family income - Gini index:
46.8 (2000)

28.9 (1985)

Investment (gross fixed):
19.6% of GDP (2009 est.)

Budget:
revenues: $1.261 billion
expenditures: $1.391 billion; including capital expenditures of $NA (2009 est.)

Inflation rate (consumer prices):
14.2% (2009 est.)

15.4% (2008 est.)

Central bank discount rate:
11.25% (31 December 2008)

12.5% (31 December 2007)

Commercial bank prime lending rate:
16.51% (31 December 2008)

15.84% (31 December 2007)

Stock of money:
$233.6 million (31 December 2005)

Stock of quasi money:
$227.4 million (31 December 2005)

Stock of domestic credit:
$NA (31 December 2008)

$209.2 million (31 December 2005)

Market value of publicly traded shares:
$NA

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% (2009 est.)

Electricity - production:
120 million kWh (2007 est.)

Electricity - consumption:
231.6 million kWh (2007 est.)

Electricity - exports:
10 million kWh (2007 est.)

Electricity - imports:
130 million kWh (2007 est.)

Oil - production:
0 bbl/day (2008 est.)

Oil - consumption:
6,000 bbl/day (2008 est.)

Oil - exports:
0 bbl/day (2007 est.)

Oil - imports:
5,623 bbl/day (2007 est.)

Oil - proved reserves:
0 bbl (1 January 2009 est.)

Natural gas - production:
0 cu m (2008 est.)

Natural gas - consumption:
0 cu m (2008 est.)

Natural gas - exports:
0 cu m (2008 est.)

Natural gas - imports:
0 cu m (2008 est.)

Natural gas - proved reserves:
56.63 billion cu m (1 January 2009 est.)

Current account balance:
$-208 million (2009 est.)

$-292 million (2008 est.)

Exports:
$213 million (2009 est.)

$210 million (2008 est.)

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

Exports - partners:
China 9.1%, Thailand 8.6%, Germany 7.3%, US 4.5%, Belgium 4.1% (2008)

Imports:
$786 million (2009 est.)

$834 million (2008 est.)

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

Imports - partners:
Kenya 15.2%, Uganda 13.3%, China 6.3%, Belgium 5.3%, Germany 4.5% (2008)

Reserves of foreign exchange and gold:
$619 million (31 December 2009 est.)

$596 million (31 December 2008 est.)

Debt - external:
$NA (31 December 2009 est.)

Exchange rates:
Rwandan francs (RWF) per US dollar - 568.75 (2009), 550 (2008), 585 (2007), 560 (2006), 610 (2005)


NOTE: The information regarding Rwanda on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Rwanda Economy 2010 information contained here. All suggestions for corrections of any errors about Rwanda Economy 2010 should be addressed to the CIA.



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