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%.
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.
Rwanda GDP from 1980 to 2024
The total market value of goods and services produced annually in Rwanda.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 1B 493M | $ 292.78 | $ 413.46 | $ 2B 109M | -3.576 % | -3.492 % | 7.71 % | 0 % | 5M 101K people |
1981 | $ 1B 695M | $ 320.56 | $ 447.30 | $ 2B 365M | 2.472 % | -4.235 % | 6.91 % | 0 % | 5M 288K people |
1982 | $ 1B 808M | $ 329.64 | $ 446.52 | $ 2B 450M | -2.468 % | -4.991 % | 9.40 % | 0 % | 5M 486K people |
1983 | $ 1B 932M | $ 339.30 | $ 474.07 | $ 2B 699M | 6.035 % | -2.471 % | 8.29 % | 0 % | 5M 694K people |
1984 | $ 1B 851M | $ 317.36 | $ 541.74 | $ 3B 159M | 12.974 % | -2.24 % | 11.25 % | 0 % | 5M 832K people |
1985 | $ 2B 199M | $ 364.61 | $ 564.27 | $ 3B 402M | 4.388 % | -2.898 % | 10.37 % | 0 % | 6M 30K people |
1986 | $ 2B 490M | $ 399.28 | $ 587.08 | $ 3B 662M | 5.501 % | -2.782 % | 9.36 % | 0 % | 6M 237K people |
1987 | $ 2B 765M | $ 428.42 | $ 579.64 | $ 3B 742M | -0.295 % | -4.886 % | 6.64 % | 0 % | 6M 455K people |
1988 | $ 2B 959M | $ 442.81 | $ 581.38 | $ 3B 885M | 0.296 % | -4.035 % | 6.42 % | 0 % | 6M 682K people |
1989 | $ 3B 90M | $ 447.14 | $ 550.96 | $ 3B 807M | -5.706 % | -3.311 % | 5.11 % | 0 % | 6M 910K people |
1990 | $ 2B 954M | $ 417.72 | $ 560.74 | $ 3B 966M | 0.419 % | -2.864 % | 3.14 % | 0 % | 7M 73K people |
1991 | $ 2B 179M | $ 298.96 | $ 538.23 | $ 3B 924M | -4.3 % | -1.549 % | 1.79 % | 0 % | 7M 290K people |
1992 | $ 2B 313M | $ 317.04 | $ 586.44 | $ 4B 277M | 6.6 % | -3.585 % | 5.05 % | -5.521 % | 7M 295K people |
1993 | $ 2B 231M | $ 325.86 | $ 573.26 | $ 3B 925M | -10.378 % | -5.786 % | 5.51 % | -4.684 % | 6M 847K people |
1994 | $ 1B 418M | $ 223.45 | $ 367.09 | $ 2B 329M | -41.89 % | 6.99 % | 4.70 % | -5.855 % | 6M 346K people |
1995 | $ 1B 470M | $ 245.28 | $ 494.29 | $ 2B 962M | 24.541 % | 3.911 % | 9.35 % | -0.01 % | 5M 992K people |
1996 | $ 1B 593M | $ 268.93 | $ 568.12 | $ 3B 366M | 11.596 % | -0.534 % | 7.01 % | -3.593 % | 5M 925K people |
1997 | $ 2B 144M | $ 345.66 | $ 634.26 | $ 3B 934M | 14.9 % | -2.905 % | 5 % | -1.166 % | 6M 203K people |
1998 | $ 2B 290M | $ 338.31 | $ 636.78 | $ 4B 310M | 8.34 % | -3.611 % | 6.97 % | -1.731 % | 6M 769K people |
1999 | $ 2B 130M | $ 284.17 | $ 602.11 | $ 4B 516M | 3.308 % | -6.634 % | 5.15 % | -3.524 % | 7M 500K people |
