Economics A Level Country Profile: Rwanda

Population

about 14 million (2022)

Infant mortality rate

28.8 per 1,000 births (2022)

Life expectancy

67.1 years (2022)

Fertility rate

3.75 births per woman (2022)

HDI

0.548 (low)

Expected years of school

11.4 years

Mean years of schooling

4.9 years

GDP growth

8.9% (2024)

GNI per capita, PPP

$3,330 (2023)

Inflation rate

6.3% (year to Feb 2025)

Unemployment

16.8% (2024)

Fiscal balance

-6.3% (predicted 2024)

Government debt

77.8% of GDP (2024)

Investment spending

25% of GDP

Gross national savings

12.5% of GDP (2023)

Corporate tax rate

28%

Gini index

43.7 (2016)

Major industries

agriculture, tourism, mining and construction

Main exports

coffee, tea, minerals e.g. gold, tin ores, rice

Main imports

food products, machinery and equipment, construction materials, petroleum products, fertilisers

Recent supply-side policy

Construction of three international airports, African Institute of Mathematical Sciences in 2016, Kigali Special Economic Zone established to encourage manufacturing

Spending on health

4.75% of GDP (2022)

Current account balance

-11.7% (2023) - due to high import bills

Absolute poverty

around 45-50%

Trade % of GDP

around 65%

Regional Trade Agreements

East African Community (EAC), Common Market for Eastern and Southern Africa (COMESA), African Continental Free Trade Area (AfCTA)

Currency unit

Rwandan franc (Rwf)

Exchange rate system

crawl-like floating exchange rate system, can fluctuate within a fixed range