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Rwanda Economy 1999

    Economy—overview: Rwanda is a rural country with about 90% of the population engaged in (mainly subsistence) agriculture. It is the most densely populated country in Africa; is landlocked, and has few natural resources and minimal industry. Primary exports 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 significant progress in stabilizing and rehabilitating its economy. GDP has rebounded, and inflation has been curbed. In June 1998, Rwanda signed an Enhanced Structural Adjustment Facility (ESAF) with the IMF. Rwanda has also embarked upon an ambitious privatization program with the World Bank.

    GDP: purchasing power parity—$5.5 billion (1998 est.)

    GDP—real growth rate: 10.5% (1998 est.)

    GDP—per capita: purchasing power parity—$690 (1998 est.)

    GDP—composition by sector:
    agriculture: 36%
    industry: 24%
    services: 40% (1997 est.)

    Population below poverty line: 51.2% (1993 est.)

    Household income or consumption by percentage share:
    lowest 10%: 4.2%
    highest 10%: 24.2% (1983-85)

    Inflation rate (consumer prices): 10% (1998)

    Labor force: 3.6 million

    Labor force—by occupation: agriculture 90%, government and services, industry and commerce

    Unemployment rate: NA%

    revenues: $231 million
    expenditures: $319 million, including capital expenditures of $13 million (1996 est.)

    Industries: production of cement, processing of agricultural products, small-scale beverage production, manufacture of soap, furniture, shoes, plastic goods, textiles, cigarettes

    Industrial production growth rate: 4.9% (1995 est.)

    Electricity—production: 164 million kWh (1996)

    Electricity—production by source:
    fossil fuel: 2.44%
    hydro: 97.56%
    nuclear: 0%
    other: 0% (1996)

    Electricity—consumption: 177 million kWh (1996)

    Electricity—exports: 2 million kWh (1996)

    Electricity—imports: 15 million kWh (1996)

    Agriculture—products: coffee, tea, pyrethrum (insecticide made from chrysanthemums), bananas, beans, sorghum, potatoes; livestock

    Exports: $82.1 million (f.o.b., 1998 est.)

    Exports—commodities: coffee 55%, tea 21%, hides, tin ore (1997)

    Exports—partners: Brazil 49%, Germany 16%, US, Netherlands, UK (1996)

    Imports: $326 million (f.o.b., 1998 est.)

    Imports—commodities: foodstuffs, machinery and equipment, steel, petroleum products, cement and construction material (1997)

    Imports—partners: Italy, Kenya, Tanzania, US, Belgium-Luxembourg (1997)

    Debt—external: $1.2 billion (1998)

    Economic aid—recipient: $711.2 million (1995); note—since 1994, World Bank financing to Rwanda has totaled more than $120 million; in June 1998, Rwanda signed an Enhanced Structural Adjustment Facility (ESAF) with the IMF; in summer 1998, Rwanda presented its policy objectives and development priorities to donor governments resulting in multi-year pledges in the amount of $250 million

    Currency: 1 Rwandan franc (RF) = 100 centimes

    Exchange rates: Rwandan francs (RF) per US$1—320.63 (February 1999), 312.31 (1998), 301.53 (1997), 306.82 (1996), 262.20 (1995)

    Fiscal year: calendar year

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Revised 1-Mar-99
Copyright © 1999 Photius Coutsoukis (all rights reserved)