Rwanda's GDP changed from approximately $1B 493M in 1980 to $13B 701M in 2024, showing an overall 817.7% sharply increased during the period.
The lowest GDP was recorded in 1994 at $1B 418M, and the highest in 2023 at $14B 20M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.2%.
For comparison, the average annual growth rate of Burundi was 2.7%, and that of Democratic Republic of the Congo was 0.2%.
Rwanda GDP from 1980 to 2024
The total market value of goods and services produced annually in Rwanda.
Overview of Rwanda's GDP (1980–2024)
The Gross Domestic Product (GDP) of Rwanda recorded a 817.7% sharply increased from 1980 to 2024.
The average GDP during this period was $4B 892M, and the median was $2B 943M.
GDP fluctuated within a range of $12B 602M, with a standard deviation of $3B 788M.
The average annual change was $251M 427K.
Highest and Lowest GDP Records
- Lowest GDP: 1994, $1B 418M
- Highest GDP: 2023, $14B 20M
- Most Recent GDP: 2024, $13B 701M
Notable Annual GDP Changes
- 2022: Significant increase in GDP
- 1994: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Rwanda's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $10B 345M → $10B 173M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $4B 69M → $5B 675M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $2B 49M → $1B 967M
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $2B 144M → $2B 290M
- Outcome: increased
Key Economic Indicators of Rwanda (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | -3.576 % | $ 1B 493M | $ 2B 109M | $ 292.78 | $ 413.46 | 7.71 % | 5M 101K people | -3.492 % | 0 % |
1981 | 2.472 % | $ 1B 695M | $ 2B 365M | $ 320.56 | $ 447.30 | 6.91 % | 5M 288K people | -4.235 % | 0 % |
1982 | -2.468 % | $ 1B 808M | $ 2B 450M | $ 329.64 | $ 446.52 | 9.40 % | 5M 486K people | -4.991 % | 0 % |
1983 | 6.035 % | $ 1B 932M | $ 2B 699M | $ 339.30 | $ 474.07 | 8.29 % | 5M 694K people | -2.471 % | 0 % |
1984 | 12.974 % | $ 1B 851M | $ 3B 159M | $ 317.36 | $ 541.74 | 11.25 % | 5M 832K people | -2.24 % | 0 % |
1985 | 4.388 % | $ 2B 199M | $ 3B 402M | $ 364.61 | $ 564.27 | 10.37 % | 6M 30K people | -2.898 % | 0 % |
1986 | 5.501 % | $ 2B 490M | $ 3B 662M | $ 399.28 | $ 587.08 | 9.36 % | 6M 237K people | -2.782 % | 0 % |
1987 | -0.295 % | $ 2B 765M | $ 3B 742M | $ 428.42 | $ 579.64 | 6.64 % | 6M 455K people | -4.886 % | 0 % |
1988 | 0.296 % | $ 2B 959M | $ 3B 885M | $ 442.81 | $ 581.38 | 6.42 % | 6M 682K people | -4.035 % | 0 % |
1989 | -5.706 % | $ 3B 90M | $ 3B 807M | $ 447.14 | $ 550.96 | 5.11 % | 6M 910K people | -3.311 % | 0 % |
1990 | 0.419 % | $ 2B 954M | $ 3B 966M | $ 417.72 | $ 560.74 | 3.14 % | 7M 73K people | -2.864 % | 0 % |
1991 | -4.3 % | $ 2B 179M | $ 3B 924M | $ 298.96 | $ 538.23 | 1.79 % | 7M 290K people | -1.549 % | 0 % |
1992 | 6.6 % | $ 2B 313M | $ 4B 277M | $ 317.04 | $ 586.44 | 5.05 % | 7M 295K people | -3.585 % | -5.521 % |
1993 | -10.378 % | $ 2B 231M | $ 3B 925M | $ 325.86 | $ 573.26 | 5.51 % | 6M 847K people | -5.786 % | -4.684 % |
1994 | -41.89 % | $ 1B 418M | $ 2B 329M | $ 223.45 | $ 367.09 | 4.70 % | 6M 346K people | 6.99 % | -5.855 % |
1995 | 24.541 % | $ 1B 470M | $ 2B 962M | $ 245.28 | $ 494.29 | 9.35 % | 5M 992K people | 3.911 % | -0.01 % |
1996 | 11.596 % | $ 1B 593M | $ 3B 366M | $ 268.93 | $ 568.12 | 7.01 % | 5M 925K people | -0.534 % | -3.593 % |
1997 | 14.9 % | $ 2B 144M | $ 3B 934M | $ 345.66 | $ 634.26 | 5 % | 6M 203K people | -2.905 % | -1.166 % |
1998 | 8.34 % | $ 2B 290M | $ 4B 310M | $ 338.31 | $ 636.78 | 6.97 % | 6M 769K people | -3.611 % | -1.731 % |
1999 | 3.308 % | $ 2B 130M | $ 4B 516M | $ 284.17 | $ 602.11 | 5.15 % | 7M 500K people | -6.634 % | -3.524 % |