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Economy of Botswana vs Rwanda compared: GDP & Debt

Updated on by Georank

Botswana has a GDP of $19.9B compared to $16.4B for Rwanda, ranking 135/197 and 142/197 by economy size, respectively.

Botswana has $7.7B in government debt (38.6% of GDP), compared to $10.6B (64.6% of GDP) in Rwanda.

Botswana vs Rwanda GDP by year

Botswana
Rwanda
1x
Year GDP, current $
Botswana Rwanda
2025 $19,928,479,839 $16,372,132,990
2024 $19,286,251,068 $15,111,064,182
2023 $19,413,614,555 $14,806,501,437
2022 $20,321,150,599 $13,747,404,814
2021 $18,750,182,236 $11,252,894,910
2020 $14,960,251,608 $10,487,146,253
2019 $16,725,908,149 $10,519,272,170
2018 $17,031,943,186 $9,650,161,136
2017 $16,105,155,857 $9,164,345,443
2016 $15,082,637,184 $8,596,812,241
2015 $13,530,748,845 $8,447,064,079
2014 $15,470,088,501 $8,129,984,484
2013 $14,271,738,933 $7,714,276,920
2012 $13,907,464,500 $7,556,673,276
2011 $15,110,643,612 $6,802,676,034
2010 $12,637,273,429 $6,052,276,078
2009 $10,118,459,242 $5,603,399,015
2008 $10,730,829,116 $5,120,655,375
2007 $10,567,270,656 $4,017,977,507
2006 $9,919,158,482 $3,274,207,945
2005 $9,918,907,108 $2,933,819,766
2004 $8,957,467,707 $2,376,496,067
2003 $7,511,582,173 $2,138,237,279
2002 $5,438,863,983 $1,966,003,468
2001 $5,489,608,300 $1,966,600,715
2000 $5,788,329,609 $2,068,836,754
1999 $5,484,263,347 $2,157,108,263
1998 $4,790,481,509 $1,989,343,546
1997 $5,020,265,627 $1,851,558,197
1996 $4,847,757,218 $1,382,334,879
1995 $4,730,599,122 $1,293,535,193
1994 $4,259,259,604 $753,636,370
1993 $4,160,129,175 $1,971,525,712
1992 $4,146,464,587 $2,029,026,962
1991 $3,942,876,703 $1,911,600,237
1990 $3,790,636,324 $2,550,185,679
1989 $3,083,822,112 $2,405,022,593
1988 $2,644,554,159 $2,395,492,687
1987 $1,965,226,890 $2,157,432,668
1986 $1,392,602,164 $1,944,710,684
1985 $1,114,783,343 $1,715,626,331
1984 $1,240,822,167 $1,587,413,084
1983 $1,172,230,397 $1,479,687,587
1982 $1,014,945,696 $1,407,243,139
1981 $1,073,812,830 $1,407,062,527
1980 $1,060,889,704 $1,254,765,642
1979 $819,870,259 $1,109,346,131
1978 $590,407,374 $905,709,076
1977 $451,624,780 $746,650,613
1976 $372,025,093 $637,753,853
1975 $355,168,572 $571,863,500
1974 $306,044,208 $308,458,423
1973 $244,124,164 $290,746,157
1972 $164,460,915 $246,457,838
1971 $127,448,614 $222,952,504
1970 $96,243,234 $219,900,006
1969 $77,361,547 $188,700,037
1968 $66,248,441 $172,200,018
1967 $58,642,354 $159,560,018
1966 $51,465,655 $124,525,703
1965 $45,788,696 $148,799,980
1964 $41,616,348 $129,999,994
1963 $38,091,843 $128,000,000
1962 $35,644,957 $125,000,008
1961 $32,902,613 $122,000,016
1960 $30,411,414 $119,000,024

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Botswana vs Rwanda by year

Botswana
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Botswana Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,778 - $1,124 -
2024 $7,650 $20,538 $1,060 $3,711
2023 $7,827 $21,012 $1,061 $3,399
2022 $8,329 $19,977 $1,007 $3,099
2021 $7,808 $17,961 $843 $2,733
2020 $6,323 $15,292 $803 $2,285
2019 $7,172 $15,960 $823 $2,336
2018 $7,408 $15,786 $773 $2,125
2017 $7,105 $15,701 $751 $1,968
2016 $6,749 $16,228 $721 $1,866
2015 $6,141 $14,144 $726 $1,781
2014 $7,122 $15,003 $715 $1,678
2013 $6,667 $13,621 $695 $1,512
2012 $6,596 $12,737 $698 $1,455
2011 $7,287 $13,635 $643 $1,413
2010 $6,216 $12,753 $587 $1,314
2009 $5,083 $11,686 $557 $1,241
2008 $5,503 $13,810 $522 $1,191
2007 $5,529 $13,389 $421 $1,079
2006 $5,292 $12,563 $352 $1,002
2005 $5,391 $11,458 $324 $914
2004 $4,957 $10,818 $269.5 $832
2003 $4,230 $10,439 $249 $775
2002 $3,117 $9,958 $234 $760
2001 $3,206 $9,420 $237.3 $670
2000 $3,451 $9,380 $251.9 $609
1999 $3,340 $9,188 $264.7 $554
1998 $2,981 $8,441 $246.2 $528
1997 $3,194 $8,497 $238.7 $500
1996 $3,156 $7,890 $206 $499
1995 $3,156 $7,503 $228 $514
1994 $2,917 $7,049 $111 $311
1993 $2,929 $6,847 $247 $521
1992 $3,005 $6,753 $264.1 $575
1991 $2,939 $6,598 $254 $542
1990 $2,903 $6,104 $346 $549
1989 $2,428 - $335 -
1988 $2,141 - $344 -
1987 $1,639 - $320 -
1986 $1,200 - $297.7 -
1985 $994 - $271.6 -
1984 $1,145 - $259.9 -
1983 $1,121 - $250.6 -
1982 $1,006 - $246.4 -
1981 $1,107 - $254.6 -
1980 $1,132 - $234.4 -
1979 $909 - $213.8 -
1978 $695 - $179.9 -
1977 $565 - $152.7 -
1976 $490 - $134.4 -
1975 $493 - $124.1 -
1974 $446 - $68.9 -
1973 $374 - $66.9 -
1972 $264.2 - $58.4 -
1971 $212.2 - $54.4 -
1970 $163 - $55.2 -
1969 $131.8 - $48.9 -
1968 $113.4 - $46 -
1967 $100.9 - $44 -
1966 $89.1 - $35.4 -
1965 $79.7 - $43.5 -
1964 $73.5 - $39 -
1963 $68.9 - $39.3 -
1962 $66 - $39.2 -
1961 $62.3 - $39.3 -
1960 $58.9 - $39.4 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Botswana's GDP per capita is $7,778, ranking 100/197, compared to $1,124 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), Botswana ranks 95th at $20,538, while Rwanda ranks 168th at $3,711.

Economic indicators

Botswana Rwanda
Gross domestic product
$19.9B
2025
$16.4B
2025
GDP rank
135/197
2025
142/197
2025
GDP growth
-0.73%
2024-2025
9.38%
2024-2025
GDP per capita
$7,778
2025
$1,124
2025
GDP per capita rank
100/197
2025
178/197
2025
GDP per capita, PPP
$20,538
2024
$3,711
2024
GDP per capita PPP rank
95/197
2024
168/197
2024
Government debt
$7.7B
2025
$10.6B
2025
Debt-to-GDP ratio
38.6%
2025
64.6%
2025
Government debt per person
$3,005
2025
$726
2025
Government debt per person rank
106/185
2025
155/185
2025
Average annual personal income after taxes
$5,441
2026
$1,614
2026
Market capitalization of domestic companies
$4.28B
2025
$3.2B
2025
Income share by richest 10%
42.9%
2015
33.4%
2023
Income share by poorest 10%
1.4%
2015
3.1%
2023
Government expenditure, % of GDP
35%
2025
24.1%
2025
Consumer prices inflation
2.66%
2024-2025
5.91%
2024-2025
Central bank interest rate
5.5%
2026
6.75%
2025
Unemployment rate
24.4%
2024
5.36%
2025
Population
2624853
15062056

Spending and national debt comparison by year

Botswana
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
Botswana Rwanda
Government spending Government debt Government spending Government debt
2025 35% 38.6% 24.1% 64.6%
2024 33.7% 33.2% 27.1% 63.4%
2023 32.4% 22.5% 26.2% 61.4%
2022 29.1% 21% 28.7% 59%
2021 31.4% 22.3% 31% 66.2%
2020 36.5% 23.5% 32.5% 66.7%
2019 36.9% 21.5% 27.7% 52.8%
2018 35.6% 19.6% 26.3% 49.2%
2017 34.7% 19.6% 25.3% 46.1%
2016 34.1% 22.3% 25.4% 41.5%
2015 37.8% 24.5% 26.9% 33.5%
2014 36.5% 23.9% 27.8% 29.5%
2013 33.5% 23.8% 26.5% 27%
2012 37.1% 26.4% 24.9% 19.3%
2011 37.2% 27.9% 25% 18.9%
2010 42.6% 26.5% 24.1% 19%
2009 52.1% 22.4% 22.6% 18.7%
2008 48.1% 7.79% 22.7% 18.5%
2007 37.1% 5.93% 22.7% 22.4%
2006 33.1% 6.14% 20.9% 22.8%
2005 33.8% 7.46% 20.2% 59.8%
2004 39.8% 10.7% 18.1% 82.1%
2003 42.7% 7.08% 18.8% 80.7%
2002 45.1% 8.37% 20.7% 93.4%
2001 42.1% 7.48% 19.3% 85.2%
2000 38.8% 8.16% 18.5% 87.2%
1999 40.1% 9.31% 22.7% 79.5%
1998 41.8% 11.3% 16.6% 71.1%
1997 39% - 17.2% 73.3%
1996 36.1% - 19.8% 84.6%
1995 36.1% - 18.3% 102.2%
1994 37.6% - 13.5% -
1993 42% - 20.6% -
1992 42.3% - 21.8% -
1991 41.1% - - -
1990 38.9% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Botswana's government spending was $6.98B, accounting for 35% of its GDP, while Rwanda spent $3.95B, or 24.1% of GDP.

Debt-to-GDP ratio is 38.6% in Botswana and 64.6% in Rwanda, ranking 137/185 and 68/185, respectively.

Government deficit by year

Deficit/surplus
Botswana

Rwanda
1x
Year Deficit/surplus, % of GDP
Botswana Rwanda
2025 -7.42% -4.49%
2024 -7.26% -6.19%
2023 -4.16% -4.88%
2022 0.04% -5.56%
2021 -2.33% -6.89%
2020 -10.9% -9.26%
2019 -8.53% -5%
2018 -5.03% -2.57%
2017 -1.14% -2.54%
2016 0.71% -2.3%
2015 -4.82% -2.71%
2014 3.9% -3.97%
2013 5.84% -1.29%
2012 0.89% -2.41%
2011 -0.12% -0.87%
2010 -7.95% -0.65%
2009 -13.8% 0.26%
2008 -7.61% 0.84%
2007 5.73% -1.58%
2006 13.3% -0.03%
2005 10.3% 1.14%
2004 1.35% 2.31%
2003 -0.18% -1.25%
2002 -3.94% -2.06%
2001 -2.91% -1.83%
2000 8.73% -0.22%
1999 5.95% -4.48%
1998 - -2.63%
1997 - -2.25%
1996 - -5.08%
1995 - -2.07%
1994 - -9.68%
1993 - -6.7%
1992 - -7.31%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2025, retrieved 2026-07-08).

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

In 2025, Botswana's government deficit, the difference between spending and revenue, was $1.48B, equivalent to 7.42% of GDP. This compares to Rwanda's deficit of $736M, or 4.49% of GDP.

Over the past 27 years, Botswana recorded a fiscal deficit in 16 of those years, while Rwanda ran a deficit in 23 years. On average, Botswana posted an annual deficit equal to 1.16% of GDP, compared to deficit of 2.54% of GDP for Rwanda.

Inflation comparison by year

Inflation
Botswana

Rwanda
1x
Year Consumer prices inflation
Botswana Rwanda
2025 2.66% 5.91%
2024 2.82% 1.77%
2023 5.07% 19.8%
2022 11.7% 17.7%
2021 7.24% -0.39%
2020 1.89% 9.85%
2019 2.77% 3.35%
2018 3.24% -0.31%
2017 3.31% 8.28%
2016 2.81% 7.17%
2015 3.06% 2.53%
2014 4.4% 2.35%
2013 5.88% 5.92%
2012 7.54% 10.3%
2011 8.46% 3.08%
2010 6.95% -0.25%
2009 8.03% 12.9%
2008 12.7% 15.4%
2007 7.08% 9.08%
2006 11.6% 8.88%
2005 8.61% 9.01%
2004 6.95% 12.3%
2003 9.19% 7.45%
2002 8.03% 1.99%
2001 6.56% 3.34%
2000 8.6% 3.9%
1999 7.75% -2.41%
1998 6.66% 6.21%
1997 8.72% 12%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Botswana has recorded an average annual inflation rate of 6.56%, compared with 6.8% in Rwanda. In 2025, inflation was 2.66% in Botswana and 5.91% in Rwanda.

Top exports between countries

Botswana
Export category Export value
Machinery & equipment $57K
Textiles & consumer goods $10K
Metals $2K
Miscellaneous $1K
Wood & paper products $1K
Rwanda
Export category Export value
Miscellaneous $5K
Textiles & consumer goods $5K

Balance of trade

Botswana Rwanda
Current account balance
-$821M
2024
-$1.81B
2024
Current account balance ranking
113/190
2024
136/190
2024
Current account balance, % of GDP
-4.26%
2024
-12%
2024
Goods imports
$6.86B
2024
$5.55B
2024
Goods exports
$4.66B
2024
$3.2B
2024
Service imports
$1.29B
2024
$991M
2024
Service exports
$935M
2024
$1.08B
2024
Imports of goods and services, % of GDP
37.5%
2025
35.1%
2025
Exports of goods and services, % of GDP
32%
2025
21.6%
2025

Economic freedom indices

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

Botswana Rwanda
Economic freedom 67.7 56.5
Economic freedom ranking 53/197 121/197
Property rights 71.7 60.3
Government integrity 59.6 53.9
Judicial effectiveness 70.2 27.5
Tax burden 87.1 80.6
Government spending 69.8 75.7
Fiscal health 72.4 37.5
Business freedom 61.5 60.1
Labor freedom 60.7 49.1
Monetary freedom 72 72.3
Trade freedom 77 61.8
Investment freedom 50 60
Financial freedom 60 40

Economic freedom comparison by year

Botswana
Rwanda
1x
Year Economic freedom index
Botswana Rwanda
2026 67.7 56.5
2025 69.9 54.8
2024 68 51.6
2023 64.9 52.2
2022 64.8 57.1
2021 67.6 68.3
2020 69.6 70.9
2019 69.5 71.1
2018 69.9 69.1
2017 70.1 67.6
2016 71.1 63.1
2015 69.8 64.8
2014 72 64.7
2013 70.6 64.1
2012 69.6 64.9
2011 68.8 62.7
2010 70.3 59.1
2009 69.7 54.2
2008 68.2 54.2
2007 68.1 52.4
2006 68.8 52.8
2005 69.3 51.7
2004 69.9 53.3
2003 68.6 47.8
2002 66.2 50.4
2001 66.8 45.4
2000 65.8 42.3
1999 62.9 39.8
1998 62.8 39.1
1997 59.1 38.3
1996 61.6 -
1995 56.8 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Botswana is 67.7, ranking 53/197, 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

Botswana Rwanda
Services, % of GDP
64.6%
2025
52.3%
2025
Industry, % of GDP
27.9%
2025
22%
2025
Agriculture, forestry, and fishing, % of GDP
1.78%
2025
20.3%
2025
GNI, Atlas method
$18.9B
2025
$16.7B
2025
GNI per capita, PPP
$19,960
2025
$4,070
2025
Total reserves including gold
$3.46B
2024
$1.96B
2025
Total reserves ranking
117/177
2024
128/177
2025
Net foreign direct investment
-$464M
2024
-$560M
2024
Net inflows of foreign direct investment
$467M
2024
$573M
2024
Net outflows of foreign direct investment
$3.02M
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI
1.45%
2024
2.91%
2024
Poverty at national poverty lines
16.1%
2015
27.4%
2023
Gross capital formation, % of GDP
29.2%
2025
34.1%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2020–2024, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.