Country risk rating

B1

LOW RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD10.33bn (World ranking 143, World Bank 2020)
Population 12.95mn (World ranking 75, World Bank 2020)
Form of state Republic
Head of government Paul Kagame
Next elections 2024, Presidential
  • One of the best business environments in Africa, often better than in some Advanced Economies
  • Growth is high and was not affected by the progressive rebalancing of the policy-mix
  • Poverty decreased visibly in the last 25 years
  • A leading engine in terms of trade openness, trying to organize a regional/continental approach to free trade
  • Foreign currency liquidity is adequate (low debt loads, good import cover of foreign reserves)
  • The development of the capital stock is driving capital goods imports, triggering a structural current account deficit: FDI covers only about 40% of this deficit
  • Increasing financial inclusion implies a strong credit growth, that has to be monitored carefully in order to avoid higher non-performing loans in the future
  • The weak political situation in neighbouring countries (RDC mainly) can reverberate on security issues in Rwanda

Trade structure by destination/origin

(% of total, 2020)

Exports Rank Imports
United Arab Emirates 37.2%
1
17.2% China
Dem. Rep. of the Congo 20.9%
2
11.9% Kenya
Turkey 8.6%
3
9.5% United Arab Emirates
Pakistan 3.3%
4
7.7% India
United States 2.4%
5
3.6% Cameroon

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Gold, non-monetary (excluding gold ores and concentrates) 37.3%
1
9.7% Gold, non-monetary (excluding gold ores and concentrates)
Coffee, tea, cocoa, spices, and manufactures thereof 14.5%
2
9.0% Petroleum, petroleum products and related materials
Metalliferous ores and metal scrap 7.7%
3
5.4% Telecommunication and sound recording apparatus
Petroleum, petroleum products and related materials 5.0%
4
5.3% Cereals and cereal preparations
Cereals and cereal preparations 4.8%
5
4.9% Electrical machinery, apparatus and appliances, n.e.s.
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