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Economy of Cameroon vs Rwanda compared: GDP & Debt

Updated on by Georank team

Cameroon has a GDP of $53.3B compared to $14.3B for Rwanda, ranking 91/197 and 144/197 by economy size, respectively.

Cameroon has $22.8B in government debt (42.8% of GDP), compared to $9.58B (67.2% of GDP) in Rwanda.

Cameroon vs Rwanda GDP by year

Cameroon
Rwanda
1x
Year GDP, current $
Cameroon Rwanda
2024 $53,296,694,320 $14,251,642,235
2023 $48,814,501,547 $14,331,722,703
2022 $44,347,206,073 $13,316,161,002
2021 $45,011,937,347 $11,078,787,090
2020 $40,773,241,177 $10,174,386,857
2019 $39,667,757,528 $10,349,300,277
2018 $39,955,552,190 $9,637,904,521
2017 $36,098,547,033 $9,252,833,891
2016 $33,814,337,044 $8,695,272,058
2015 $32,210,233,020 $8,543,760,200
2014 $36,386,544,706 $8,238,966,124
2013 $33,728,621,180 $7,819,964,030
2012 $30,155,062,329 $7,654,761,050
2011 $30,630,910,495 $6,884,913,658
2010 $27,507,501,821 $6,124,756,654
2009 $27,932,970,317 $5,674,476,969
2008 $27,715,142,033 $5,179,854,065
2007 $23,928,250,433 $4,070,507,895
2006 $20,910,512,975 $3,319,784,539
2005 $19,509,852,207 $2,933,819,766
2004 $18,826,214,136 $2,376,496,067
2003 $15,970,315,035 $2,138,237,279
2002 $12,417,251,350 $1,966,003,468
2001 $10,953,485,349 $1,966,600,715
2000 $10,566,579,295 $2,068,836,754
1999 $11,565,826,465 $2,157,108,263
1998 $11,298,144,990 $1,989,343,546
1997 $10,789,458,433 $1,851,558,197
1996 $11,093,538,846 $1,382,334,879
1995 $10,864,772,471 $1,293,535,193
1994 $8,902,446,252 $753,636,370
1993 $16,181,814,713 $1,971,525,712
1992 $12,071,775,335 $2,029,026,962
1991 $11,840,192,296 $1,911,600,237
1990 $12,314,482,628 $2,550,185,679
1989 $11,012,566,195 $2,405,022,593
1988 $12,236,057,362 $2,395,492,687
1987 $13,049,659,981 $2,157,432,668
1986 $11,857,056,199 $1,944,710,684
1985 $8,544,810,498 $1,715,626,331
1984 $7,311,938,026 $1,587,413,084
1983 $6,870,200,010 $1,479,687,587
1982 $6,611,255,964 $1,407,243,139
1981 $6,610,938,617 $1,407,062,527
1980 $6,674,569,047 $1,254,765,642
1979 $5,919,002,983 $1,109,346,131
1978 $4,662,852,583 $905,709,076
1977 $3,394,664,024 $746,650,613
1976 $2,898,090,002 $637,753,853
1975 $2,857,037,371 $571,863,500
1974 $2,157,415,533 $308,458,423
1973 $1,901,393,361 $290,746,157
1972 $1,498,251,890 $246,457,838
1971 $1,236,941,394 $222,952,504
1970 $1,151,216,993 $219,900,006
1969 $1,100,551,489 $188,700,037
1968 $1,046,191,218 $172,200,018
1967 $936,175,260 $159,560,018
1966 $851,112,535 $124,525,703
1965 $814,083,266 $148,799,980
1964 $776,650,177 $129,999,994
1963 $718,320,845 $128,000,000
1962 $694,247,864 $125,000,008
1961 $652,777,608 $122,000,016
1960 $614,206,068 $119,000,024

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

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

GDP per capita in Cameroon vs Rwanda by year

Cameroon
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cameroon Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,830 $5,589 $1,000 $3,711
2023 $1,720 $5,411 $1,027 $3,399
2022 $1,605 $5,189 $975 $3,099
2021 $1,672 $4,794 $830 $2,733
2020 $1,556 $4,365 $779 $2,285
2019 $1,555 $4,241 $810 $2,336
2018 $1,611 $4,011 $772 $2,125
2017 $1,496 $3,767 $758 $1,968
2016 $1,442 $3,627 $730 $1,866
2015 $1,415 $3,498 $734 $1,781
2014 $1,649 $3,422 $725 $1,678
2013 $1,576 $3,239 $705 $1,512
2012 $1,449 $3,060 $707 $1,455
2011 $1,514 $2,989 $651 $1,413
2010 $1,399 $2,914 $594 $1,314
2009 $1,461 $2,879 $564 $1,241
2008 $1,492 $2,870 $528 $1,191
2007 $1,326 $2,818 $426 $1,079
2006 $1,191 $2,704 $357 $1,002
2005 $1,143 $2,598 $324 $914
2004 $1,133 $2,533 $269.5 $832
2003 $988 $2,368 $249 $775
2002 $790 $2,263 $234 $760
2001 $715 $2,191 $237.3 $670
2000 $709 $2,108 $251.9 $609
1999 $796 $2,039 $264.7 $554
1998 $799 $1,975 $246.2 $528
1997 $783 $1,915 $238.7 $500
1996 $827 $1,850 $206 $499
1995 $832 $1,790 $228 $514
1994 $701 $1,752 $111 $311
1993 $1,310 $1,731 $247 $521
1992 $1,005 $1,890 $264.1 $575
1991 $1,015 $1,963 $254 $542
1990 $1,087 $2,032 $346 $549
1989 $1,001 - $335 -
1988 $1,145 - $344 -
1987 $1,258 - $320 -
1986 $1,179 - $297.7 -
1985 $875 - $271.6 -
1984 $772 - $259.9 -
1983 $746 - $250.6 -
1982 $732 - $246.4 -
1981 $750 - $254.6 -
1980 $784 - $234.4 -
1979 $718 - $213.8 -
1978 $582 - $179.9 -
1977 $435 - $152.7 -
1976 $381 - $134.4 -
1975 $386 - $124.1 -
1974 $299.9 - $68.9 -
1973 $271.8 - $66.9 -
1972 $220.1 - $58.4 -
1971 $186.7 - $54.4 -
1970 $178.5 - $55.2 -
1969 $175.2 - $48.9 -
1968 $170.8 - $46 -
1967 $156.6 - $44 -
1966 $145.8 - $35.4 -
1965 $142.7 - $43.5 -
1964 $139.2 - $39 -
1963 $131.6 - $39.3 -
1962 $130 - $39.2 -
1961 $124.6 - $39.3 -
1960 $119.1 - $39.4 -

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

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

Cameroon's GDP per capita is $1,830, ranking 158/197, compared to $1,000 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), Cameroon ranks 156th at $5,589, while Rwanda ranks 168th at $3,711.

Economic indicators

Cameroon Rwanda
Gross domestic product
$53.3B
2024
$14.3B
2024
GDP rank
91/197
2024
144/197
2024
GDP growth
3.52%
2023-2024
8.89%
2023-2024
GDP per capita
$1,830
2024
$1,000
2024
GDP per capita rank
158/197
2024
178/197
2024
GDP per capita, PPP
$5,589
2024
$3,711
2024
GDP per capita PPP rank
156/197
2024
168/197
2024
Government debt
$22.8B
2024
$9.58B
2024
Debt-to-GDP ratio
42.8%
2024
67.2%
2024
Government debt per person
$784
2024
$672
2024
Government debt per person rank
152/185
2024
157/185
2024
Average annual personal income after taxes
$1,578
2026
$2,194
2026
Market capitalization of domestic companies n/a
$2.75B
2024
Income share by richest 10%
31.1%
2021
33.4%
2023
Income share by poorest 10%
2.1%
2021
3.1%
2023
Government expenditure, % of GDP
16.7%
2024
28.8%
2024
Consumer prices inflation
4.53%
2023-2024
1.77%
2023-2024
Central bank interest rate n/a
6.75%
2025
Unemployment rate
3.28%
2021
11.3%
2024
Population
30864115
14975051

Spending and national debt comparison by year

Cameroon
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
Cameroon Rwanda
Government spending Government debt Government spending Government debt
2024 16.7% 42.8% 28.8% 67.2%
2023 17.1% 43.1% 27% 63.4%
2022 17.1% 45.6% 29.7% 60.9%
2021 17.1% 47.2% 31.6% 67.3%
2020 16.6% 44.9% 33.5% 68.7%
2019 18.7% 41.6% 28.2% 53.6%
2018 18% 38.3% 26.4% 49.2%
2017 19.2% 36.5% 25.1% 45.6%
2016 20.2% 32.1% 25.1% 41.1%
2015 20.1% 31.6% 26.6% 33.1%
2014 20.1% 20.7% 27.5% 29.1%
2013 19.2% 17.5% 26.2% 26.7%
2012 17.2% 14.9% 24.6% 19.1%
2011 17.8% 15.9% 24.7% 18.7%
2010 15.2% 14% 23.8% 18.8%
2009 14.7% 11.3% 22.3% 18.5%
2008 15.9% 11.2% 22.5% 18.3%
2007 13.5% 13.8% 22.4% 22.1%
2006 12.5% 18.4% 20.6% 22.5%
2005 12.4% 43.8% 19.9% 58.9%
2004 13.4% 51.7% 17.9% 80.9%
2003 13.2% 51.5% 18.5% 79.5%
2002 13.9% 56.6% 20.5% 92%
2001 14.6% 62.2% 19.1% 84%
2000 14.6% 75.9% 18.2% 86%
1999 - 68.4% 22.4% 78.4%
1998 - 67.8% 16.4% 70.1%
1997 - - 17% 72.2%
1996 - - 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).

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

In 2024, Cameroon's government spending was $8.91B, accounting for 16.7% of its GDP, while Rwanda spent $4.1B, or 28.8% of GDP.

Debt-to-GDP ratio is 42.8% in Cameroon and 67.2% in Rwanda, ranking 125/185 and 65/185, respectively.

Government deficit by year

Deficit/surplus
Cameroon

Rwanda
1x
Year Deficit/surplus, % of GDP
Cameroon Rwanda
2024 -1.48% -6.57%
2023 -0.63% -5.04%
2022 -1.11% -5.74%
2021 -3.01% -7%
2020 -3.19% -9.54%
2019 -3.24% -5.08%
2018 -2.41% -2.57%
2017 -4.72% -2.52%
2016 -5.88% -2.27%
2015 -4.25% -2.68%
2014 -4.09% -3.92%
2013 -3.55% -1.27%
2012 -1.4% -2.38%
2011 -2.26% -0.86%
2010 -0.93% -0.64%
2009 -0.04% 0.26%
2008 2% 0.83%
2007 3.87% -1.56%
2006 28.2% -0.03%
2005 3.03% 1.12%
2004 -0.46% 2.27%
2003 0.56% -1.23%
2002 1.51% -2.03%
2001 0.86% -1.8%
2000 1.54% -0.22%
1999 - -4.41%
1998 - -2.59%
1997 - -2.22%
1996 - -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/cameroon/rwanda | CC BY

In 2024, Cameroon's government deficit, the difference between spending and revenue, was $789M, equivalent to 1.48% of GDP. This compares to Rwanda's deficit of $936M, or 6.57% of GDP.

Over the past 25 years, Cameroon recorded a fiscal deficit in 17 of those years, while Rwanda ran a deficit in 21 years. On average, Cameroon posted an annual deficit equal to 0.04% of GDP, compared to deficit of 2.42% of GDP for Rwanda.

Inflation comparison by year

Inflation
Cameroon

Rwanda
1x
Year Consumer prices inflation
Cameroon Rwanda
2024 4.53% 1.77%
2023 7.38% 19.8%
2022 6.25% 17.7%
2021 2.27% -0.39%
2020 2.44% 9.85%
2019 2.45% 3.35%
2018 1.07% -0.31%
2017 0.64% 8.28%
2016 0.87% 7.17%
2015 2.68% 2.53%
2014 1.85% 2.35%
2013 2.05% 5.92%
2012 2.74% 10.3%
2011 2.94% 3.08%
2010 1.28% -0.25%
2009 3.04% 12.9%
2008 5.34% 15.4%
2007 0.92% 9.08%
2006 5.12% 8.88%
2005 2.01% 9.01%
2004 0.23% 12.3%
2003 0.62% 7.45%
2002 2.83% 1.99%
2001 4.42% 3.34%
2000 1.23% 3.9%
1999 1.87% -2.41%
1998 3.17% 6.21%
1997 4.79% 12%

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

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

Over the past 28 years, Cameroon has recorded an average annual inflation rate of 2.75%, compared with 6.83% in Rwanda. In 2024, inflation was 4.53% in Cameroon and 1.77% in Rwanda.

Top exports between countries

Cameroon
Export category Export value
Chemicals & pharma $385K
Raw materials & minerals $35K
Machinery & equipment $28K
Processed food, beverages & tobacco $1K
Rwanda
Export category Export value
Processed food, beverages & tobacco $30K
Animal & marine products $26K
Machinery & equipment $24K
Textiles & consumer goods $23K
Raw agricultural goods $2K

Balance of trade

Cameroon Rwanda
Current account balance
-$2.02B
2023
-$1.81B
2024
Current account balance ranking
144/190
2023
140/190
2024
Current account balance, % of GDP
-4.14%
2023
-12.7%
2024
Goods imports
$7.74B
2023
$5.55B
2024
Goods exports
$6.34B
2023
$3.2B
2024
Service imports
$2.55B
2023
$991M
2024
Service exports
$2.01B
2023
$1.08B
2024
Imports of goods and services, % of GDP
18.7%
2024
39.1%
2024
Exports of goods and services, % of GDP
15.7%
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.

Cameroon Rwanda
Economic freedom 52 56.5
Economic freedom ranking 151/197 121/197
Property rights 28.1 60.3
Government integrity 21 53.9
Judicial effectiveness 10.1 27.5
Tax burden 72.2 80.6
Government spending 91.4 75.7
Fiscal health 94.5 37.5
Business freedom 48.6 60.1
Labor freedom 45.6 49.1
Monetary freedom 75.3 72.3
Trade freedom 57.2 61.8
Investment freedom 30 60
Financial freedom 50 40

Economic freedom comparison by year

Cameroon
Rwanda
1x
Year Economic freedom index
Cameroon Rwanda
2026 52 56.5
2025 52.1 54.8
2024 53.6 51.6
2023 51.9 52.2
2022 52.9 57.1
2021 53.4 68.3
2020 53.6 70.9
2019 52.4 71.1
2018 51.9 69.1
2017 51.8 67.6
2016 54.2 63.1
2015 51.9 64.8
2014 52.6 64.7
2013 52.3 64.1
2012 51.8 64.9
2011 51.8 62.7
2010 52.3 59.1
2009 53 54.2
2008 54.3 54.2
2007 55.6 52.4
2006 54.6 52.8
2005 53 51.7
2004 52.3 53.3
2003 52.7 47.8
2002 52.8 50.4
2001 53.3 45.4
2000 49.9 42.3
1999 50.3 39.8
1998 48 39.1
1997 44.6 38.3
1996 45.7 -
1995 51.3 -

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

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

The Economic Freedom Index for Cameroon is 52, ranking 151/197, 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

Cameroon Rwanda
Services, % of GDP
50.7%
2024
47.6%
2024
Industry, % of GDP
23.2%
2024
21%
2024
Agriculture, forestry, and fishing, % of GDP
18.5%
2024
24.6%
2024
GNI, Atlas method
$49.5B
2024
$14.8B
2024
GNI per capita, PPP
$5,490
2024
$3,620
2024
Total reserves including gold
$4.88B
2023
$2.41B
2024
Total reserves ranking
103/177
2023
123/177
2024
Net foreign direct investment
-$901M
2023
-$560M
2024
Net inflows of foreign direct investment
$888M
2024
$573M
2024
Net outflows of foreign direct investment
$63.4M
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI
3.2%
2024
3.09%
2024
Poverty at national poverty lines
37.7%
2021
27.4%
2023
Gross capital formation, % of GDP
18.9%
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/cameroon/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. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

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.