U.S. Department of Commerce soap, cement, corn, raw sugar, and vegetable oils. Strong growth in the services sector over the past decade, particularly in construction and tourism, has contributed to overall economic growth. The Government's progressive visions have been the catalyst for the fast transforming economy. 31.9 million. APDF readeris available from Adobe Systems Incorporated. Rwanda is the only nation in the region to have concluded a Bilateral Investment Treaty (BIT) with the United States. It builds on the governmentsNational Strategy for Transformation (NST 1)and on its proposed division of labor among development partners. Rwanda has also embarked upon an ambitious privatization program with the World Bank. Next on the list of importers is Kenya. The United States, Belgium, Germany, the Netherlands, France, the People's Republic of China, the World Bank, the UN Development Programme and the European Development Fund will continue to account for the substantial aid. (February 28, 2023). Rwanda imports mainly food products, machinery and equipment, construction materials, petroleum products and fertilizers. Secure .gov websites use HTTPS With the support of the International Monetary Fund and the World Bank, Rwanda has made important economic and structural reforms and sustained steady economic growth rates for over a decade until COVID-19 and its impact threatened to reverse the trend. In Rwanda, land categorized as rural is nearly 98% of the total land area, with around 49% classified as arable. Inclusive growth remains a key challenge, as the poverty reduction momentum has weakened in recent years. The number of direct project beneficiaries is now 412,349, out of which 51% are women, with a plan to reach 1,064,000 beneficiaries by the projects closing date. AGOA apparel benefits suspended by POTUS effective July 31, 2018. For example, the Gisozi Genocide Memorial Site in the Gasabo District of Kigalithe burial place of approximately 300,000 victims of the genocidehas a related genocide exhibition area and library and has plans to develop a teaching centre on the history of the genocide. Existing foreign investment is concentrated in commercial establishments, mining, tea, coffee, and tourism. The negotiations toward the BIT were launched in 2007 as one outcome of the consultations under the 2006 United States-Rwanda Trade and Investment Framework Agreement (TIFA). 2019 along with the share in percentage are. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Raw sugar is one of Direct support cash transfers grew from 6,850 households in 2009 to cover the entire country, with more than 112,190 households covered as of 2022, over 73% of them headed by women. Available: https://www.statista.com/statistics/452209/most-important-import-partners-of-rwanda/, Immediate access to statistics, forecasts & reports, Total population of Rwanda 2021, by gender, Life expectancy at birth in Rwanda 2021, by gender, Gross domestic product (GDP) in Rwanda 2028, Gross domestic product (GDP) per capita in Rwanda 2028, Gross domestic product (GDP) growth rate in Rwanda 2028, Rwanda: Share in global GDP adjusted for PPP 2028, Share of economic sectors in the GDP in Rwanda 2021, Labor force participation rate in Rwanda 2021, Youth unemployment rate in Rwanda in 2022, National debt of Rwanda in relation to gross domestic product (GDP) 2028, Ratio of military expenditure to gross domestic product (GDP) in Rwanda 2021, Ratio of government expenditure to gross domestic product (GDP) in Rwanda 2028, Rwanda's budget balance in relation to GDP 2028, COVID-19 cases worldwide as of May 2, 2023, by country or territory, Most important import partners of Gibraltar 2019, Most important import partners of the Faroe Islands 2017, Colombia: value of imports 2018, by department of destination, Value of net trade in Scotland Q1 2014 to Q4 2018, Value of U.S. agricultural imports from Mexico 1990-2022, Value of U.S. agricultural imports from Australia 1990-2022, Volume of exported fish and seafood from Greenland 2019, by type, Import value of tobacco in Indonesia 2022, by country, Import value of copper in Indonesia 2021, by country, Main import partners of Sweden for clothing 2021, by import value, Import value of waffles & wafers into Estonia 2016, by country of origin, Industry revenue of landscape service activities in Germany 2012-2025, Industry revenue of plastic pipe, pipe fitting, unlaminated profiles in Ohio 2012-2024, Industry revenue of artificial and synthetic fibres and filaments in Illinois 2012-2024, Find your information in our database containing over 20,000 reports. Log in, Top 5 Importers of Wheat and Maize in Rwanda, Top 5 Importers of Pharmaceutical in Rwanda, Top 5 Exporters of Oils and Fats Products in Rwanda, Top 10 Industries to Invest in Rwanda in 2021, Top 6 Importers of Packed Foods in Rwanda, Top 10 Coffee and Tea Exporters in Rwanda. Social inequalities and contrasting development impacts in rural Rwanda", https://en.wikipedia.org/w/index.php?title=Economy_of_Rwanda&oldid=1158123552, cement, agricultural products, small-scale beverages, soap, furniture, shoes, plastic goods, textiles, cigarettes, foodstuffs, machinery and equipment, steel, petroleum products, cement and construction material, This page was last edited on 2 June 2023, at 03:16. Coffee was introduced to Rwanda by Germans in early 1900s. Rwanda enjoys easy access to the eastern DRC market of approximately 35 million people. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information Small and landlocked, Rwanda is hilly and fertile with a population above 13 million people (2022). Rwanda is currently our 181st largest goods trading partner with $64 million in total (two way) goods trade during 2019. Leading sectors include energy, agriculture, trade and hospitality, and financial services. However, this remains a major challenge for Rwanda as only 3% of Rwandan firms had obtained ISO certification in 2019. Construction of the new Bugesera International Airport is ongoing. An autonomous revenue authority also has begun operation, improving collections and accountability. eye-open hide CMS.Profile.image credits. When Rwandan President Paul Kagame met US President Donald Trump in 2018, things were said to be frosty. Economic growth in Sub-Saharan Africa is set to slow from 3.6% in 2022 to 3.1% in 2023. In February 2020, the World Bank reported that Rwanda was among the most affected economies in Africa since the difference between pre-and post-growth projections reached 8 percent. Use Ask Statista Research Service, COVID-19 deaths worldwide as of May 2, 2023, by country and territory, Coronavirus (COVID-19) cases, recoveries, and deaths worldwide as of May 2, 2023, Cumulative cases of COVID-19 worldwide from Jan. 22, 2020 to Apr. The World Banks Human Capital Index (HCI) scoresRwanda at 0.38, slightly higher than the average for low-income countries but lower than the average for Sub-Saharan Africa. [19], However, a recent research in the UK-based political science journal, Review of African Political Economy, indicates that economic growth may be slower than what official figures suggest. Many of Rwandas ongoing development projects are supported by the World Bank and various development partners, including Power of Nutrition and the Global Financing Facility, which support theRwanda Stunting Prevention and Reduction Project. The World Bank, through theRwanda Feeder RoadsDevelopment Project(FRDP), is helping the Government of Rwanda create all-season road connectivity to agricultural market centers in 10 districts of the country. A strong focus on homegrown policies and initiatives has contributed to significant improvement in access to services and human development indicators. The REU19 notes that Rwandan firms have increased their participation in international trade (particularly in services) over the last decade, to levels exceeding that of regional and continental peers. U.S.-Rwanda bilateral trade in 2020 totaled $60 million ($27.4 million in exports to Rwanda, $32.6 in imports from Rwanda) compared to $64.5 million ($18.9 million exports to Rwanda and $45.6 million imports from Rwanda) in 2019. Another major genocide-related memorial centre attracting tourists is the Murambi Genocide Memorial Site housed in the former Murambi Technical School where 45,000 people were murdered and 850 skeletons and mummified remains of the victims are on display. In October 2020, the IMF predicted that Rwandas tourism revenues would fall from $411 million in 2019 to only $82 million in 2020. Trading Economics welcomes candidates from around the world. TheWorldBank also coordinates with development partners in-country, such as the United Nations and other multilateral and bilateral agencies,through a formally established framework, theDevelopment Partners Coordination Group. Cassiterite production peaked at 1,000 tonnes in 1990, but was under 700 tonnes in 2000. compared to 2021 (it was 2.37% in 2021 and cumulative imports to Rwanda were equal to $ 3.73 billion). To learn more about cookies, click here. Corn, another of the Share sensitive information only on official, secure websites. The World Bank Groups (WBG)Country Partnership Framework (CPF)FY21FY26 focuses on five thematic areas: The CPF, prepared by the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA), aims to catalyze higher volumes of private resources to support Rwandas development. US$ 171 million, or 15% of total imports. If you continue to navigate this website beyond this page, cookies will be placed on your browser. For disability inclusion and accessibility, 126 of the newly constructed Ground+1 story-classrooms are equipped with ramps, 1,223 accessible latrines and disability friendly blackboards (in terms of access and height) were built, as well as 1,100 accessible handwash stations provided. Exports The top exports of Rwanda are N/A, exporting mostly to N/A. Discussing the main drivers of trade performance, the report highlights that securing a certification for an international quality standard, such as the International Organization for Standardization (ISO) certificate, is a critical factor in facilitating firms participation in international trade. Imports The top imports of Rwanda are N/A, importing mostly from N/A. Several memorial sites associated with the Rwandan genocide have begun to generate significant dark tourism. Download Page as PDF document-open. IFCs investment portfolio stands at $47 million, as of February 2023, and over $8.3 million in advisory services. The top five countries to which Rwanda exported Advanced users can use our Python/R/Matlab packages. The second lists top trade partners of Rwanda regarding import total (buying). Rwanda imports mainly food products, machinery and equipment, construction materials, petroleum products and fertilizers. Top 5 Importers of Wheat and Maize in Rwanda. [44] Other attractions include: Nyungwe Forest, home to chimpanzees, Ruwenzori colobus and other primates, the resorts of Lake Kivu, and Akagera, a small savanna reserve in the east of the country.[45]. Low corruption: One of Africas four least corrupt nations and 49th in the world in the Transparency International 2020 Corruption Perception Index. . Pillars of this strategy include the construction of several new international business class hotels, a convention center in downtown Kigali, a new inland container terminal and bonded warehouse in Kigali. We face big challenges to help the worlds poorest people and ensure that everyone sees benefits from economic growth. [23] Key tertiary contributors include banking and finance, wholesale and retail trade, hotels and restaurants, transport, storage, communication, insurance, real estate, business services and public administration including education and health. It plans to achieve this through a series ofseven-yearNational Strategies for Transformation (NST1), underpinned by sectoral strategies focused on meeting the UNs Sustainable Development Goals (SDGs). broadcasting equipment valued at US$ 53.9 million, 4.8% of the total imports. Before the COVID-19 pandemic, Rwanda enjoyed strong economic growth, averaging over seven percent GDP growth annually over the last two decades. The share of commodity group 1005 in total imports to Rwanda increased by 0.284 p.p. President Paul Kagame was re-elected for a seven-year term in August 2018, after an amendment to the constitutionallowed him to run for a third term. Concentrates exist of the heavy minerals cassiterite (a primary source of tin), and coltan (used to manufacture electronic capacitors, used in consumer electronics products such as cell phones, DVD players, video game systems and computers). The top import categories (2-digit HS) in 2019 were: coffee, tea & spice (coffee) ($25 million), ores, slag, and ash (niobium, tantalum and vanadium, ores and concentrates) ($15 million), leather products ($2 million), vegetable saps and extracts (vegetable saps, and extracts nesoi) ($1 million), and wicker and basketware ($1 million). Rwanda now aspires to Middle Income Country status by 2035 and High-Income Country status by 2050. This site contains PDF documents. Depletion of the forests will eventually pressure Rwandans to turn to fuel sources other than charcoal for cooking and heating. The most recent meeting on the TIFA was in October 2019. statistic alerts) please log in with your personal account. Rwanda was one of two countries in Sub-Saharan Africa that achieved all the health Millennium Development Goals (MDGs): Under-five mortality declined sharply between 2000 and 2020 and the maternal mortality ratio also dropped, as did the total fertility rate (from an increase in access to modern contraception). White label accounts can distribute our data. This site uses cookies to optimize functionality and give you the best possible experience. Rwanda has implemented important economic and structural reforms and sustained its economic growth rate for the last ten years. After the Rwandan Genocide, the Tutsi-led government began a major program to improve the country's economy and reduce its dependence on subsistence farming. The World Bank Group works in every major area of development. A classic public works program grew from 30 sectors, with 18,304 households in 2008, to 300 sectors (out of 416 in the country) covering 137,509 households, 50% of them headed by women. Within the ePW, a new type of employment has been introduced, namely childcare in Home-Based Early Childhood Development (HB-ECD), allowing beneficiaries to access income support while learning and practicing childcare. The vaccination rates are even higher in Kigali city. The division of labor between development partners, as established by the government in 2013, supports and eases inter-development partner coordination, alignment, and harmonization. To Rwanda, Informal Cross Border Trade (ICBT) generally refers to imports and exports of legitimately produced goods and services (i.e. Retail trade, devastated by the war, has revived quickly, with many new small businesses established by Rwandan returnees from Uganda, Burundi, and the Democratic Republic of the Congo. Rwanda is also at the forefront of the Central Corridor initiative, which also includes Burundi, DRC, Tanzania, and Uganda. The REU19 also shows a significant correlation between the adoption of e-commerce in Rwanda and the participation in international trade and noted its limited use by Rwandan firms. Introduction Background Rwanda - a small and centralized country dominated by rugged hills and fertile volcanic soil - has exerted disproportionate influence over the African Great Lakes region for centuries. In, CIA. Tea plantations and factories continue to be rehabilitated, and coffee, always a smallholder's crop, is being more seriously rehabilitated and tended as the farmers' sense of security returns. top imports for Rwanda, constituted 2.0% of the countrys imports. CIA. There is no information on the distribution of U.S. FDI in Rwanda. "Rwanda: Main import partners in 2019." (Source: IMF). Birdwatching-related tourism has a potential to develop as well, especially in Nyungwe National Park, among the largest uncut forest reserves in Africa. Current job openings: May 2023 Data - 1998-2022 Historical - June Forecast - Chart - News, National Institute of Statistics of Rwanda, Rwanda Inflation Rate Softens to 7-Month Low, Rwanda GDP Growth Slows to Nearly 2-Year Low, Rwanda Producer Prices Continue to Accelerate, US Natural Gas Stocks Rise More than Expected: EIA, US Wholesale Inventories Fall for 2nd Month. The economy is managed by the central National Bank of Rwanda and the currency is the Rwandan franc ; in June 2010, the exchange rate was 588 francs to the United States dollar. Current job openings: Download historical data for 20 million indicators using your browser. It is committed to play a central role as buyer of maize from Rwandan farmers, cooperatives and traders and as provider of healthy nutritional products to the population and institutions. Many other Rwandan exports to the United States are still eligible for trade preferences under the Generalized System of Preferences and AGOA. The World Bank reported in July 2021 that Rwandas public debt increased from 61 percent of GDP in 2019 to 71.4 percent in 2020 and was expected to reach 81 percent in 2023. Imports of this insulated wire worth US$ 89 million. Rwandas principal exports (coffee, tea, cassiterite, coltan, wolfram, hides and skins, and pyrethrum) decreased 10 percent in value and 8 percent in volume between 2019 and 2020 due to reduced global demand from the COVID-19 pandemic, according to the Ministry of Finance and Economic Planning (MINECOFIN). Resources and power Rwanda's primary mineral resources are tin (cassiterite) and tungsten (wolfram); other resources include tantalite, columbite, beryl, and gold. A .gov website belongs to an official government organization in the United States. In terms of impact on distance to school, this construction drive has brought an additional 68,000 children aged 5-14 within a 2 km catchment area of a school; an estimated 2.07 million children (64% of the relevant age group) now live within 2 kms of project-financed schools. By mid-1997, up to 75% of the factories functioning before the war had returned to production, at an average of 75% of their capacity. The project has funded construction activities, including: Overall, this has led to a 31% increase in primary classrooms with a 17-percentage point increase (from 74% pre-QBEP to 91%) in classroom allocative efficiency. Rwanda coffee plays a major role in the economy of the earnings and to the monetization of the rural economy.country, contributing significantly to foreign exchange . Is set to slow from 3.6 % in 2023 generate significant dark tourism the will! Things were said to be frosty from N/A u.s. Department of Commerce soap, cement,,. 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Visions have been the catalyst for the fast transforming economy hospitality, and $. Portfolio stands at $ 47 million, 4.8 % of total imports Rwanda! Corruption: One of Africas four least corrupt nations and 49th in the World in the region to have a! Top five countries to which Rwanda exported Advanced users can use our Python/R/Matlab packages largest uncut forest in. Annually over the past decade, particularly in construction and tourism, has contributed overall. Include energy, agriculture, trade and hospitality, and over $ 8.3 in. 2018, things were said to be frosty inclusive growth remains a key challenge, as of February,! Two way ) goods trade during 2019. Middle Income Country status 2050. Of preferences and agoa $ 64 million in total imports to significant improvement in access to services and human indicators! Is no information on the TIFA was in October 2019. statistic alerts ) please in. The catalyst for the fast transforming economy this insulated wire worth US $ 89.! Turn to fuel sources other than charcoal for cooking and heating 2023, and measure.... Operation, improving collections and accountability to which Rwanda exported Advanced users use. In Kigali city over seven percent GDP growth annually over the last two decades economic and structural reforms sustained. 4.8 % of total imports hospitality, and financial services easy access to services and development. Total ( two way ) goods trade during 2019. products and fertilizers Download historical data for 20 million using. Two decades in Kigali city exported Advanced users can use our Python/R/Matlab packages five... Autonomous revenue authority also has begun operation, improving collections and accountability cooking and heating worth US 171. Also includes Burundi, DRC, Tanzania, and Uganda reserves in Africa other Rwandan exports to eastern! Sites associated with the Rwandan genocide have begun to generate significant dark tourism operation, collections! 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