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Economy of Angola vs Rwanda compared: GDP & Debt

Updated on by Georank team

Angola has a GDP of $101B compared to $14.3B for Rwanda, ranking 71/197 and 144/197 by economy size, respectively.

Angola has $60.5B in government debt (59.9% of GDP), compared to $9.58B (67.2% of GDP) in Rwanda.

Angola vs Rwanda GDP by year

Angola
Rwanda
1x
Year GDP, current $
Angola Rwanda
2024 $100,998,916,781 $14,251,642,235
2023 $107,167,747,140 $14,331,722,703
2022 $131,212,208,930 $13,316,161,002
2021 $79,559,543,805 $11,078,787,090
2020 $58,852,456,454 $10,174,386,857
2019 $80,734,428,593 $10,349,300,277
2018 $89,512,794,227 $9,637,904,521
2017 $84,376,935,689 $9,252,833,891
2016 $59,878,249,719 $8,695,272,058
2015 $102,543,067,841 $8,543,760,200
2014 $153,449,860,496 $8,238,966,124
2013 $148,845,200,697 $7,819,964,030
2012 $143,572,907,528 $7,654,761,050
2011 $125,551,634,704 $6,884,913,658
2010 $95,546,919,755 $6,124,756,654
2009 $81,705,175,408 $5,674,476,969
2008 $98,790,432,989 $5,179,854,065
2007 $73,037,821,927 $4,070,507,895
2006 $58,653,659,980 $3,319,784,539
2005 $41,396,636,383 $2,933,819,766
2004 $26,997,977,897 $2,376,496,067
2003 $20,342,128,112 $2,138,237,279
2002 $17,311,512,432 $1,966,003,468
2001 $8,936,079,118 $1,966,600,715
2000 $9,129,594,970 $2,068,836,754
1999 $6,152,923,310 $2,157,108,263
1998 $6,506,221,616 $1,989,343,546
1997 $7,648,380,196 $1,851,558,197
1996 $7,526,421,519 $1,382,334,879
1995 $5,538,749,260 $1,293,535,193
1994 $4,438,321,017 $753,636,370
1993 $5,768,720,422 $1,971,525,712
1992 $8,307,810,974 $2,029,026,962
1991 $10,603,784,541 $1,911,600,237
1990 $11,229,515,599 $2,550,185,679
1989 $10,201,780,977 $2,405,022,593
1988 $8,769,836,769 $2,395,492,687
1987 $8,084,412,414 $2,157,432,668
1986 $7,072,536,109 $1,944,710,684
1985 $7,554,065,410 $1,715,626,331
1984 $6,131,475,065 $1,587,413,084
1983 $5,784,341,596 $1,479,687,587
1982 $5,550,483,036 $1,407,243,139
1981 $5,550,483,036 $1,407,062,527
1980 $5,930,503,401 $1,254,765,642
1979 - $1,109,346,131
1978 - $905,709,076
1977 - $746,650,613
1976 - $637,753,853
1975 - $571,863,500
1974 - $308,458,423
1973 - $290,746,157
1972 - $246,457,838
1971 - $222,952,504
1970 - $219,900,006
1969 - $188,700,037
1968 - $172,200,018
1967 - $159,560,018
1966 - $124,525,703
1965 - $148,799,980
1964 - $129,999,994
1963 - $128,000,000
1962 - $125,000,008
1961 - $122,000,016
1960 - $119,000,024

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

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

GDP per capita in Angola vs Rwanda by year

Angola
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Angola Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,666 $10,119 $1,000 $3,711
2023 $2,916 $9,754 $1,027 $3,399
2022 $3,682 $9,588 $975 $3,099
2021 $2,304 $8,862 $830 $2,733
2020 $1,759 $7,827 $779 $2,285
2019 $2,494 $8,573 $810 $2,336
2018 $2,860 $8,278 $772 $2,125
2017 $2,791 $8,007 $758 $1,968
2016 $2,052 $7,767 $730 $1,866
2015 $3,642 $8,067 $734 $1,781
2014 $5,650 $9,018 $725 $1,678
2013 $5,689 $8,504 $705 $1,512
2012 $5,702 $8,246 $707 $1,455
2011 $5,184 $7,538 $651 $1,413
2010 $4,102 $7,412 $594 $1,314
2009 $3,645 $7,228 $564 $1,241
2008 $4,578 $7,316 $528 $1,191
2007 $3,515 $6,728 $426 $1,079
2006 $2,930 $6,018 $357 $1,002
2005 $2,146 $5,416 $324 $914
2004 $1,451 $4,771 $269.5 $832
2003 $1,134 $4,322 $249 $775
2002 $999 $4,241 $234 $760
2001 $534 $3,802 $237.3 $670
2000 $564 $3,690 $251.9 $609
1999 $393 $3,619 $264.7 $554
1998 $429 $3,609 $246.2 $528
1997 $522 $3,525 $238.7 $500
1996 $531 $3,342 $206 $499
1995 $404 $2,990 $228 $514
1994 $335 $2,633 $111 $311
1993 $450 $2,628 $247 $521
1992 $669 $3,486 $264.1 $575
1991 $882 $3,740 $254 $542
1990 $966 $3,705 $346 $549
1989 $908 - $335 -
1988 $807 - $344 -
1987 $770 - $320 -
1986 $698 - $297.7 -
1985 $772 - $271.6 -
1984 $650 - $259.9 -
1983 $637 - $250.6 -
1982 $634 - $246.4 -
1981 $658 - $254.6 -
1980 $729 - $234.4 -
1979 - - $213.8 -
1978 - - $179.9 -
1977 - - $152.7 -
1976 - - $134.4 -
1975 - - $124.1 -
1974 - - $68.9 -
1973 - - $66.9 -
1972 - - $58.4 -
1971 - - $54.4 -
1970 - - $55.2 -
1969 - - $48.9 -
1968 - - $46 -
1967 - - $44 -
1966 - - $35.4 -
1965 - - $43.5 -
1964 - - $39 -
1963 - - $39.3 -
1962 - - $39.2 -
1961 - - $39.3 -
1960 - - $39.4 -

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

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

Angola's GDP per capita is $2,666, ranking 144/197, compared to $1,000 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), Angola ranks 133rd at $10,119, while Rwanda ranks 168th at $3,711.

Economic indicators

Angola Rwanda
Gross domestic product
$101B
2024
$14.3B
2024
GDP rank
71/197
2024
144/197
2024
GDP growth
4.42%
2023-2024
8.89%
2023-2024
GDP per capita
$2,666
2024
$1,000
2024
GDP per capita rank
144/197
2024
178/197
2024
GDP per capita, PPP
$10,119
2024
$3,711
2024
GDP per capita PPP rank
133/197
2024
168/197
2024
Government debt
$60.5B
2024
$9.58B
2024
Debt-to-GDP ratio
59.9%
2024
67.2%
2024
Government debt per person
$1,597
2024
$672
2024
Government debt per person rank
127/185
2024
157/185
2024
Average annual personal income after taxes
$28,080
2026
$2,194
2026
Market capitalization of domestic companies n/a
$2.75B
2024
Income share by richest 10%
39.6%
2018
33.4%
2023
Income share by poorest 10%
1.3%
2018
3.1%
2023
Government expenditure, % of GDP
18.4%
2024
28.8%
2024
Consumer prices inflation
28.2%
2023-2024
1.77%
2023-2024
Central bank interest rate
18%
2023
6.75%
2025
Unemployment rate
14.1%
2022
11.3%
2024
Population
40555924
14975051

Spending and national debt comparison by year

Angola
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
Angola Rwanda
Government spending Government debt Government spending Government debt
2024 18.4% 59.9% 28.8% 67.2%
2023 18.8% 72.4% 27% 63.4%
2022 19.5% 56.1% 29.7% 60.9%
2021 17.3% 74.3% 31.6% 67.3%
2020 20% 119.1% 33.5% 68.7%
2019 18.2% 101.4% 28.2% 53.6%
2018 18.3% 82.5% 26.4% 49.2%
2017 21% 60.5% 25.1% 45.6%
2016 19.4% 66.7% 25.1% 41.1%
2015 23.9% 50.4% 26.6% 33.1%
2014 32.3% 35.3% 27.5% 29.1%
2013 32.9% 29.5% 26.2% 26.7%
2012 33.2% 23.8% 24.6% 19.1%
2011 33.3% 26.3% 24.7% 18.7%
2010 34.6% 32.6% 23.8% 18.8%
2009 38.7% 48.4% 22.3% 18.5%
2008 47.2% 28.1% 22.5% 18.3%
2007 34.1% 18.8% 22.4% 22.1%
2006 27.3% 16.7% 20.6% 22.5%
2005 23.7% 29.9% 19.9% 58.9%
2004 26% 41.6% 17.9% 80.9%
2003 30.1% 50.8% 18.5% 79.5%
2002 27.6% 65.1% 20.5% 92%
2001 30.3% 100.2% 19.1% 84%
2000 35.8% 118.2% 18.2% 86%
1999 39.4% 104.8% 22.4% 78.4%
1998 26.1% 96.3% 16.4% 70.1%
1997 26.8% 73.5% 17% 72.2%
1996 25.2% 92% 19.5% 83.4%
1995 - - 18% 100.8%
1994 - - 13.3% -
1993 - - 20.3% -
1992 - - 21.5% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1996–1999, retrieved 2026-02-20).

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

In 2024, Angola's government spending was $18.6B, accounting for 18.4% of its GDP, while Rwanda spent $4.1B, or 28.8% of GDP.

Debt-to-GDP ratio is 59.9% in Angola and 67.2% in Rwanda, ranking 78/185 and 65/185, respectively.

Government deficit by year

Deficit/surplus
Angola

Rwanda
1x
Year Deficit/surplus, % of GDP
Angola Rwanda
2024 -1.01% -6.57%
2023 -1.83% -5.04%
2022 0.58% -5.74%
2021 3.4% -7%
2020 -1.66% -9.54%
2019 0.69% -5.08%
2018 2.03% -2.57%
2017 -5.75% -2.52%
2016 -3.98% -2.27%
2015 -2.57% -2.68%
2014 -5.07% -3.92%
2013 -0.27% -1.27%
2012 3.68% -2.38%
2011 7.2% -0.86%
2010 2.98% -0.64%
2009 -6.8% 0.26%
2008 -3.8% 0.83%
2007 3.85% -1.56%
2006 8.42% -0.03%
2005 6.4% 1.12%
2004 1.03% 2.27%
2003 -4.1% -1.23%
2002 -2.24% -2.03%
2001 2.8% -1.8%
2000 2.02% -0.22%
1999 -8.1% -4.41%
1998 -5.1% -2.59%
1997 -0.23% -2.22%
1996 4.49% -5.01%
1995 - -2.04%
1994 - -9.54%
1993 - -6.6%
1992 - -7.21%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20).

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

In 2024, Angola's government deficit, the difference between spending and revenue, was $1.02B, equivalent to 1.01% of GDP. This compares to Rwanda's deficit of $936M, or 6.57% of GDP.

Over the past 29 years, Angola recorded a fiscal deficit in 15 of those years, while Rwanda ran a deficit in 25 years. On average, Angola posted an annual deficit equal to 0.1% of GDP, compared to deficit of 2.58% of GDP for Rwanda.

Inflation comparison by year

Inflation
Angola

Rwanda
1x
Year Consumer prices inflation
Angola Rwanda
2024 28.2% 1.77%
2023 13.6% 19.8%
2022 21.4% 17.7%
2021 25.8% -0.39%
2020 22.3% 9.85%
2019 17.1% 3.35%
2018 19.6% -0.31%
2017 29.8% 8.28%
2016 30.7% 7.17%
2015 9.2% 2.53%
2014 7.3% 2.35%
2013 8.8% 5.92%
2012 10.3% 10.3%
2011 13.5% 3.08%
2010 14.5% -0.25%
2009 13.7% 12.9%
2008 12.5% 15.4%
2007 12.2% 9.08%
2006 13.3% 8.88%
2005 23% 9.01%
2004 43.5% 12.3%
2003 98.2% 7.45%
2002 108.9% 1.99%
2001 152.6% 3.34%
2000 325% 3.9%
1999 248.2% -2.41%
1998 107.4% 6.21%
1997 221.5% 12%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Angola has recorded an average annual inflation rate of 59%, compared with 6.83% in Rwanda. In 2024, inflation was 28.2% in Angola and 1.77% in Rwanda.

Top exports between countries

Angola
Export category Export value
Machinery & equipment $10K
Textiles & consumer goods $8K
Processed food, beverages & tobacco $3K
Raw materials & minerals $2K
Precious metals & jewellery $1K
Rwanda
Export category Export value
Machinery & equipment $113K
Textiles & consumer goods $29K
Raw materials & minerals $3K
Miscellaneous $2K

Balance of trade

Angola Rwanda
Current account balance
$6.31B
2024
-$1.81B
2024
Current account balance ranking
30/190
2024
140/190
2024
Current account balance, % of GDP
+6.25%
2024
-12.7%
2024
Goods imports
$14.2B
2024
$5.55B
2024
Goods exports
$36.8B
2024
$3.2B
2024
Service imports
$8.49B
2024
$991M
2024
Service exports
$129M
2024
$1.08B
2024
Imports of goods and services, % of GDP
19.4%
2024
39.1%
2024
Exports of goods and services, % of GDP
31.5%
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.

Angola Rwanda
Economic freedom 54.4 56.5
Economic freedom ranking 133/197 121/197
Property rights 36.9 60.3
Government integrity 28.3 53.9
Judicial effectiveness 26.3 27.5
Tax burden 86.9 80.6
Government spending 89.3 75.7
Fiscal health 91.9 37.5
Business freedom 42.8 60.1
Labor freedom 50.8 49.1
Monetary freedom 59 72.3
Trade freedom 70.4 61.8
Investment freedom 30 60
Financial freedom 40 40

Economic freedom comparison by year

Angola
Rwanda
1x
Year Economic freedom index
Angola Rwanda
2026 54.4 56.5
2025 55 54.8
2024 54.3 51.6
2023 53 52.2
2022 52.6 57.1
2021 54.2 68.3
2020 52.2 70.9
2019 50.6 71.1
2018 48.6 69.1
2017 48.5 67.6
2016 48.9 63.1
2015 47.9 64.8
2014 47.7 64.7
2013 47.3 64.1
2012 46.7 64.9
2011 46.2 62.7
2010 48.4 59.1
2009 47 54.2
2008 46.9 54.2
2007 44.7 52.4
2006 43.5 52.8
2005 - 51.7
2004 - 53.3
2003 - 47.8
2002 - 50.4
2001 - 45.4
2000 24.3 42.3
1999 23.7 39.8
1998 24.9 39.1
1997 24.2 38.3
1996 24.4 -
1995 27.4 -

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

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

The Economic Freedom Index for Angola is 54.4, ranking 133/197, 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

Angola Rwanda
Services, % of GDP
41.1%
2024
47.6%
2024
Industry, % of GDP
34.6%
2024
21%
2024
Agriculture, forestry, and fishing, % of GDP
22.1%
2024
24.6%
2024
GNI, Atlas method
$108B
2024
$14.8B
2024
GNI per capita, PPP
$9,460
2024
$3,620
2024
Total reserves including gold
$14.2B
2024
$2.41B
2024
Total reserves ranking
69/177
2024
123/177
2024
Net foreign direct investment
$1.14B
2024
-$560M
2024
Net inflows of foreign direct investment
-$1.11B
2024
$573M
2024
Net outflows of foreign direct investment
$33.1M
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI
11.5%
2024
3.09%
2024
Poverty at national poverty lines
36.6%
2020
27.4%
2023
Gross capital formation, % of GDP
10.4%
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/angola/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 (1992–2024, 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 (2021–2023, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1996–1999, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, 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.