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Economy of Algeria vs Rwanda compared: GDP & Debt

Updated on by Georank team

Algeria has a GDP of $269B compared to $14.3B for Rwanda, ranking 51/197 and 144/197 by economy size, respectively.

Algeria has $129B in government debt (48.1% of GDP), compared to $9.58B (67.2% of GDP) in Rwanda.

Algeria vs Rwanda GDP by year

Algeria
Rwanda
1x
Year GDP, current $
Algeria Rwanda
2024 $269,322,281,665 $14,251,642,235
2023 $247,923,887,215 $14,331,722,703
2022 $225,581,644,703 $13,316,161,002
2021 $186,231,205,262 $11,078,787,090
2020 $164,873,415,325 $10,174,386,857
2019 $193,459,662,091 $10,349,300,277
2018 $194,554,483,656 $9,637,904,521
2017 $189,880,896,903 $9,252,833,891
2016 $180,763,839,522 $8,695,272,058
2015 $187,493,855,609 $8,543,760,200
2014 $238,942,664,193 $8,238,966,124
2013 $229,701,430,292 $7,819,964,030
2012 $227,143,746,076 $7,654,761,050
2011 $218,331,946,925 $6,884,913,658
2010 $177,785,053,940 $6,124,756,654
2009 $150,317,292,079 $5,674,476,969
2008 $180,383,848,331 $5,179,854,065
2007 $142,482,739,810 $4,070,507,895
2006 $123,084,258,693 $3,319,784,539
2005 $107,046,618,670 $2,933,819,766
2004 $91,913,680,985 $2,376,496,067
2003 $73,482,264,191 $2,138,237,279
2002 $61,516,103,406 $1,966,003,468
2001 $59,413,400,924 $1,966,600,715
2000 $54,790,398,570 $2,068,836,754
1999 $48,640,671,735 $2,157,108,263
1998 $48,187,781,984 $1,989,343,546
1997 $48,177,612,042 $1,851,558,197
1996 $46,941,554,225 $1,382,334,879
1995 $41,764,291,672 $1,293,535,193
1994 $42,543,176,829 $753,636,370
1993 $49,945,584,453 $1,971,525,712
1992 $48,003,133,347 $2,029,026,962
1991 $45,715,676,428 $1,911,600,237
1990 $62,048,507,531 $2,550,185,679
1989 $55,634,721,573 $2,405,022,593
1988 $59,089,396,860 $2,395,492,687
1987 $66,745,818,375 $2,157,432,668
1986 $63,692,007,897 $1,944,710,684
1985 $57,937,868,670 $1,715,626,331
1984 $53,698,548,293 $1,587,413,084
1983 $48,801,369,800 $1,479,687,587
1982 $45,207,167,470 $1,407,243,139
1981 $44,348,590,461 $1,407,062,527
1980 $42,345,829,079 $1,254,765,642
1979 $33,243,706,860 $1,109,346,131
1978 $26,364,491,313 $905,709,076
1977 $20,972,113,685 $746,650,613
1976 $17,728,240,932 $637,753,853
1975 $15,557,902,754 $571,863,500
1974 $13,209,871,626 $308,458,423
1973 $8,707,858,912 $290,746,157
1972 $6,766,743,957 $246,457,838
1971 $5,077,183,094 $222,952,504
1970 $4,863,526,897 $219,900,006
1969 $4,257,253,264 $188,700,037
1968 $3,852,147,027 $172,200,018
1967 $3,370,870,376 $159,560,018
1966 $3,039,859,187 $124,525,703
1965 $3,136,284,307 $148,799,980
1964 $2,909,316,435 $129,999,994
1963 $2,702,982,018 $128,000,000
1962 $2,001,444,544 $125,000,008
1961 $2,434,747,056 $122,000,016
1960 $2,723,615,451 $119,000,024

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/algeria/rwanda | CC BY

GDP per capita in Algeria vs Rwanda by year

Algeria
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Algeria Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $5,753 $17,621 $1,000 $3,711
2023 $5,370 $16,824 $1,027 $3,399
2022 $4,960 $15,836 $975 $3,099
2021 $4,161 $14,497 $830 $2,733
2020 $3,744 $12,677 $779 $2,285
2019 $4,468 $13,893 $810 $2,336
2018 $4,577 $13,727 $772 $2,125
2017 $4,555 $13,494 $758 $1,968
2016 $4,425 $13,438 $730 $1,866
2015 $4,685 $13,807 $734 $1,781
2014 $6,095 $14,694 $725 $1,678
2013 $5,980 $14,371 $705 $1,512
2012 $6,034 $14,441 $707 $1,455
2011 $5,916 $14,640 $651 $1,413
2010 $4,913 $14,201 $594 $1,314
2009 $4,235 $13,651 $564 $1,241
2008 $5,181 $13,666 $528 $1,191
2007 $4,167 $13,321 $426 $1,079
2006 $3,661 $12,791 $357 $1,002
2005 $3,233 $12,246 $324 $914
2004 $2,817 $11,432 $269.5 $832
2003 $2,284 $10,803 $249 $775
2002 $1,937 $10,080 $234 $760
2001 $1,896 $9,544 $237.3 $670
2000 $1,773 $9,187 $251.9 $609
1999 $1,596 $8,776 $264.7 $554
1998 $1,603 $8,503 $246.2 $528
1997 $1,629 $8,129 $238.7 $500
1996 $1,617 $8,053 $206 $499
1995 $1,467 $7,747 $228 $514
1994 $1,526 $7,463 $111 $311
1993 $1,831 $7,538 $247 $521
1992 $1,803 $7,705 $264.1 $575
1991 $1,759 $7,582 $254 $542
1990 $2,445 $7,602 $346 $549
1989 $2,247 - $335 -
1988 $2,451 - $344 -
1987 $2,847 - $320 -
1986 $2,800 - $297.7 -
1985 $2,633 - $271.6 -
1984 $2,524 - $259.9 -
1983 $2,374 - $250.6 -
1982 $2,275 - $246.4 -
1981 $2,307 - $254.6 -
1980 $2,276 - $234.4 -
1979 $1,843 - $213.8 -
1978 $1,506 - $179.9 -
1977 $1,232 - $152.7 -
1976 $1,080 - $134.4 -
1975 $992 - $124.1 -
1974 $873 - $68.9 -
1973 $590 - $66.9 -
1972 $469 - $58.4 -
1971 $360 - $54.4 -
1970 $353 - $55.2 -
1969 $316 - $48.9 -
1968 $292.4 - $46 -
1967 $261.8 - $44 -
1966 $241.4 - $35.4 -
1965 $253.6 - $43.5 -
1964 $238.9 - $39 -
1963 $225.6 - $39.3 -
1962 $169.6 - $39.2 -
1961 $209.4 - $39.3 -
1960 $238.4 - $39.4 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/algeria/rwanda | CC BY

Algeria's GDP per capita is $5,753, ranking 114/197, compared to $1,000 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), Algeria ranks 105th at $17,621, while Rwanda ranks 168th at $3,711.

Economic indicators

Algeria Rwanda
Gross domestic product
$269B
2024
$14.3B
2024
GDP rank
51/197
2024
144/197
2024
GDP growth
3.7%
2023-2024
8.89%
2023-2024
GDP per capita
$5,753
2024
$1,000
2024
GDP per capita rank
114/197
2024
178/197
2024
GDP per capita, PPP
$17,621
2024
$3,711
2024
GDP per capita PPP rank
105/197
2024
168/197
2024
Government debt
$129B
2024
$9.58B
2024
Debt-to-GDP ratio
48.1%
2024
67.2%
2024
Government debt per person
$2,765
2024
$672
2024
Government debt per person rank
106/185
2024
157/185
2024
Average annual personal income after taxes
$3,787
2026
$2,194
2026
Market capitalization of domestic companies
$371M
2018
$2.75B
2024
Number of billionaires
1
2025
n/a
Income share by richest 10%
22.9%
2011
33.4%
2023
Income share by poorest 10%
4%
2011
3.1%
2023
Government expenditure, % of GDP
36.8%
2024
28.8%
2024
Consumer prices inflation
4.05%
2023-2024
1.77%
2023-2024
Central bank interest rate
3%
2020
6.75%
2025
Unemployment rate
12%
2017
11.3%
2024
Population
48222325
14975051

Spending and national debt comparison by year

Algeria
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
Algeria Rwanda
Government spending Government debt Government spending Government debt
2024 36.8% 48.1% 28.8% 67.2%
2023 37.4% 47.7% 27% 63.4%
2022 32.7% 48.1% 29.7% 60.9%
2021 32.5% 55.1% 31.6% 67.3%
2020 37.5% 46% 33.5% 68.7%
2019 37.1% 40.9% 28.2% 53.6%
2018 36.2% 34.5% 26.4% 49.2%
2017 36.2% 24% 25.1% 45.6%
2016 37.2% 18.1% 25.1% 41.1%
2015 40.9% 7.73% 26.6% 33.1%
2014 36.9% 6.85% 27.5% 29.1%
2013 33.5% 6.48% 26.2% 26.7%
2012 40% 8.58% 24.6% 19.1%
2011 37.7% 8.48% 24.7% 18.7%
2010 35.1% 9.51% 23.8% 18.8%
2009 40.1% 8.92% 22.3% 18.5%
2008 37.3% 7.64% 22.5% 18.3%
2007 33.1% 12.8% 22.4% 22.1%
2006 27.8% 22.5% 20.6% 22.5%
2005 27.8% 25.4% 19.9% 58.9%
2004 27.1% 32.7% 17.9% 80.9%
2003 27% 38.2% 18.5% 79.5%
2002 32.5% 47.3% 20.5% 92%
2001 29.1% 50% 19.1% 84%
2000 26.4% 53.4% 18.2% 86%
1999 29.4% 69.7% 22.4% 78.4%
1998 28.7% 79.9% 16.4% 70.1%
1997 28.5% 79.6% 17% 72.2%
1996 26.9% 90.7% 19.5% 83.4%
1995 28.9% 95.9% 18% 100.8%
1994 30.9% 106.3% 13.3% -
1993 32.6% 76.8% 20.3% -
1992 28.2% 69.3% 21.5% -
1991 27.6% 86.1% - -
1990 23.3% 63.6% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990, retrieved 2026-02-20).

GeoRank.org/economy/algeria/rwanda | CC BY

In 2024, Algeria's government spending was $99.1B, accounting for 36.8% of its GDP, while Rwanda spent $4.1B, or 28.8% of GDP.

Debt-to-GDP ratio is 48.1% in Algeria and 67.2% in Rwanda, ranking 113/185 and 65/185, respectively.

Government deficit by year

Deficit/surplus
Algeria

Rwanda
1x
Year Deficit/surplus, % of GDP
Algeria Rwanda
2024 -13.8% -6.57%
2023 -5.52% -5.04%
2022 -2.96% -5.74%
2021 -6.32% -7%
2020 -10.5% -9.54%
2019 -8.51% -5.08%
2018 -6.15% -2.57%
2017 -7.55% -2.52%
2016 -11.8% -2.27%
2015 -13.9% -2.68%
2014 -7.14% -3.92%
2013 -0.79% -1.27%
2012 -4.04% -2.38%
2011 -1.06% -0.86%
2010 -1.35% -0.64%
2009 -6.53% 0.26%
2008 7.79% 0.83%
2007 4.63% -1.56%
2006 12.9% -0.03%
2005 11.4% 1.12%
2004 6.36% 2.27%
2003 7.22% -1.23%
2002 0.21% -2.03%
2001 3.15% -1.8%
2000 8.91% -0.22%
1999 -1.83% -4.41%
1998 -3.52% -2.59%
1997 2.19% -2.22%
1996 2.7% -5.01%
1995 -1.3% -2.04%
1994 -4.05% -9.54%
1993 -7.79% -6.6%
1992 -1.05% -7.21%
1991 1.53% -
1990 3.35% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/algeria/rwanda | CC BY

In 2024, Algeria's government deficit, the difference between spending and revenue, was $37.1B, equivalent to 13.8% of GDP. This compares to Rwanda's deficit of $936M, or 6.57% of GDP.

Over the past 33 years, Algeria recorded a fiscal deficit in 22 of those years, while Rwanda ran a deficit in 29 years. On average, Algeria posted an annual deficit equal to 1.82% of GDP, compared to deficit of 3.03% of GDP for Rwanda.

Inflation comparison by year

Inflation
Algeria

Rwanda
1x
Year Consumer prices inflation
Algeria Rwanda
2024 4.05% 1.77%
2023 9.32% 19.8%
2022 9.27% 17.7%
2021 7.23% -0.39%
2020 2.42% 9.85%
2019 1.95% 3.35%
2018 4.27% -0.31%
2017 5.59% 8.28%
2016 6.4% 7.17%
2015 4.78% 2.53%
2014 2.92% 2.35%
2013 3.25% 5.92%
2012 8.89% 10.3%
2011 4.52% 3.08%
2010 3.91% -0.25%
2009 5.74% 12.9%
2008 4.86% 15.4%
2007 3.68% 9.08%
2006 2.31% 8.88%
2005 1.38% 9.01%
2004 3.96% 12.3%
2003 4.27% 7.45%
2002 1.42% 1.99%
2001 4.23% 3.34%
2000 0.34% 3.9%
1999 2.65% -2.41%
1998 4.95% 6.21%
1997 5.73% 12%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/algeria/rwanda | CC BY

Over the past 28 years, Algeria has recorded an average annual inflation rate of 4.44%, compared with 6.83% in Rwanda. In 2024, inflation was 4.05% in Algeria and 1.77% in Rwanda.

Top exports between countries

Algeria
Export category Export value
Rwanda
Export category Export value
Textiles & consumer goods $6K
Chemicals & pharma $1K
Wood & paper products $1K

Balance of trade

Algeria Rwanda
Current account balance
-$2.75B
2024
-$1.81B
2024
Current account balance ranking
154/190
2024
140/190
2024
Current account balance, % of GDP
-1.02%
2024
-12.7%
2024
Goods imports
$45.3B
2024
$5.55B
2024
Goods exports
$48.8B
2024
$3.2B
2024
Service imports
$9.13B
2024
$991M
2024
Service exports
$4.22B
2024
$1.08B
2024
Imports of goods and services, % of GDP
20.3%
2024
39.1%
2024
Exports of goods and services, % of GDP
19.9%
2024
30.8%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Algeria Rwanda
Economic freedom 45.8 56.5
Economic freedom ranking 179/197 121/197
Property rights 27.7 60.3
Government integrity 29.4 53.9
Judicial effectiveness 30 27.5
Tax burden 80.3 80.6
Government spending 61.9 75.7
Fiscal health 15.4 37.5
Business freedom 59.3 60.1
Labor freedom 52.2 49.1
Monetary freedom 74.7 72.3
Trade freedom 58.8 61.8
Investment freedom 30 60
Financial freedom 30 40

Economic freedom comparison by year

Algeria
Rwanda
1x
Year Economic freedom index
Algeria Rwanda
2026 45.8 56.5
2025 47.5 54.8
2024 43.9 51.6
2023 43.2 52.2
2022 45.8 57.1
2021 49.7 68.3
2020 46.9 70.9
2019 46.2 71.1
2018 44.7 69.1
2017 46.5 67.6
2016 50.1 63.1
2015 48.9 64.8
2014 50.8 64.7
2013 49.6 64.1
2012 51 64.9
2011 52.4 62.7
2010 56.9 59.1
2009 56.6 54.2
2008 56.2 54.2
2007 55.4 52.4
2006 55.7 52.8
2005 53.2 51.7
2004 58.1 53.3
2003 57.7 47.8
2002 61 50.4
2001 57.3 45.4
2000 56.8 42.3
1999 57.2 39.8
1998 55.8 39.1
1997 54.9 38.3
1996 54.5 -
1995 55.7 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/algeria/rwanda | CC BY

The Economic Freedom Index for Algeria is 45.8, ranking 179/197, compared to 56.5 for Rwanda, ranking 121/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Algeria Rwanda
Services, % of GDP
46.8%
2024
47.6%
2024
Industry, % of GDP
36.2%
2024
21%
2024
Agriculture, forestry, and fishing, % of GDP
14%
2024
24.6%
2024
GNI, Atlas method
$252B
2024
$14.8B
2024
GNI per capita, PPP
$17,290
2024
$3,620
2024
Total reserves including gold
$83B
2024
$2.41B
2024
Total reserves ranking
31/177
2024
123/177
2024
Net foreign direct investment
-$1.23B
2024
-$560M
2024
Net inflows of foreign direct investment
$1.23B
2024
$573M
2024
Net outflows of foreign direct investment
$265K
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI
0.17%
2024
3.09%
2024
Poverty at national poverty lines
5.5%
2011
27.4%
2023
Gross capital formation, % of GDP
41.1%
2024
25.9%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/algeria/rwanda | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. International Monetary Fund (IMF) | Public Finances in Modern History (1990, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.