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Rwanda
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Last Updated: Jan 21st, 2009 - 22:25:00 |
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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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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 - 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 - 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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Keywords: Rwanda Economy, Rwanda, Economy, country of Rwanda, general information, country reports, classbrain, country information, information on Rwanda, ClassBrain, Economy of Rwanda
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