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Rwanda:
Economy

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Economy - overview
Definition
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. 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.
GDP (purchasing power parity)
Definition - World rank and map
$8.44 billion (2007 est.)
GDP (official exchange rate)
Definition
$3.32 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
6% (2007 est.)
GDP - per capita
Definition - World rank and map
$900 (2007 est.)
GDP - composition by sector
Definition
agriculture: 36.9%
industry: 21.7%
services: 41.4% (2007 est.)
Labor force
Definition
4.6 million (2000)
Labor force - by occupation
Definition
agriculture: 90%
industry and services: 10% (2000)
Unemployment rate
Definition - World rank and map
NA%
Population below poverty line
Definition
60% (2001 est.)
Household income or consumption by percentage share
Definition
lowest 10%: 2.1%
highest 10%: 38.2% (2000)
Distribution of family income - Gini index
Definition - World rank and map
46.8 (2000)
Inflation rate (consumer prices)
Definition - World rank and map
9.4% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
22.1% of GDP (2007 est.)
Budget
Definition
revenues: $797 million
expenditures: $873.1 million; including capital expenditures of $NA (2007 est.)
Agriculture - products
Definition
coffee, tea, pyrethrum (insecticide made from chrysanthemums), bananas, beans, sorghum, potatoes; livestock
Industries
Definition
cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes
Industrial production growth rate
Definition - World rank and map
13.1% (2007 est.)
Electricity - production
Definition - World rank and map
95 million kWh (2005)
Electricity - consumption
Definition - World rank and map
198.4 million kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
19.5 kWh (2005)
Electricity - exports
Definition
10 million kWh (2005 est.)
Electricity - imports
Definition
120 million kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
5,300 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
0.5 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
5,165 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
54.32 billion cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$161 million (2007 est.)
Exports
Definition - World rank and map
$167 million f.o.b. (2007 est.)
Exports - commodities
Definition
coffee, tea, hides, tin ore
Exports - partners
Definition
China 9.3%, Germany 7%, US 5.1% (2006)
Imports
Definition - World rank and map
$585 million f.o.b. (2007 est.)
Imports - commodities
Definition
foodstuffs, machinery and equipment, steel, petroleum products, cement and construction material
Imports - partners
Definition
Kenya 19.6%, Uganda 6.9%, Germany 6.2%, Belgium 6.2%, China 5.2% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$517 million (31 December 2007 est.)
Debt - external
Definition - World rank and map
$1.4 billion (2004 est.)
Market value of publicly traded shares
Definition
$NA
Economic aid - recipient
Definition
$576 million (2005)
Currency (code)
Definition
Rwandan franc (RWF)
Exchange rates
Definition
Rwandan francs per US dollar - 585 (2007), 560 (2006), 610 (2005), 574.62 (2004), 537.66 (2003)
Fiscal year
Definition
calendar year


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