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Economy of China vs Rwanda compared: GDP & Debt

Updated on by Georank team

China has a GDP of $18.7T compared to $14.3B for Rwanda, ranking 2/197 and 144/197 by economy size, respectively.

China has $16.6T in government debt (88.3% of GDP), compared to $9.58B (67.2% of GDP) in Rwanda.

China vs Rwanda GDP by year

China
Rwanda
1x
Year GDP, current $
China Rwanda
2024 $18,743,803,170,827 $14,251,642,235
2023 $18,270,356,654,533 $14,331,722,703
2022 $18,316,765,021,690 $13,316,161,002
2021 $18,201,698,719,564 $11,078,787,090
2020 $14,996,414,166,715 $10,174,386,857
2019 $14,560,167,101,283 $10,349,300,277
2018 $14,147,765,772,964 $9,637,904,521
2017 $12,537,559,062,283 $9,252,833,891
2016 $11,456,024,084,962 $8,695,272,058
2015 $11,280,814,787,469 $8,543,760,200
2014 $10,674,533,168,257 $8,238,966,124
2013 $9,743,124,247,267 $7,819,964,030
2012 $8,673,664,713,189 $7,654,761,050
2011 $7,671,757,207,851 $6,884,913,658
2010 $6,192,564,874,453 $6,124,756,654
2009 $5,189,577,094,998 $5,674,476,969
2008 $4,667,346,414,522 $5,179,854,065
2007 $3,604,055,822,572 $4,070,507,895
2006 $2,791,498,472,804 $3,319,784,539
2005 $2,317,551,298,052 $2,933,819,766
2004 $1,984,196,551,300 $2,376,496,067
2003 $1,683,903,309,844 $2,138,237,279
2002 $1,489,821,682,051 $1,966,003,468
2001 $1,355,036,590,252 $1,966,600,715
2000 $1,223,754,919,971 $2,068,836,754
1999 $1,103,843,203,576 $2,157,108,263
1998 $1,037,134,141,760 $1,989,343,546
1997 $967,753,570,435 $1,851,558,197
1996 $868,523,936,530 $1,382,334,879
1995 $738,190,896,228 $1,293,535,193
1994 $566,929,539,493 $753,636,370
1993 $446,557,291,212 $1,971,525,712
1992 $428,502,354,788 $2,029,026,962
1991 $384,510,452,962 $1,911,600,237
1990 $361,560,229,446 $2,550,185,679
1989 $348,380,566,802 $2,405,022,593
1988 $312,888,888,889 $2,395,492,687
1987 $273,455,156,951 $2,157,432,668
1986 $301,310,144,928 $1,944,710,684
1985 $310,064,625,850 $1,715,626,331
1984 $260,442,857,143 $1,587,413,084
1983 $231,130,268,199 $1,479,687,587
1982 $205,480,916,031 $1,407,243,139
1981 $196,218,253,968 $1,407,062,527
1980 $191,487,500,000 $1,254,765,642
1979 $178,573,913,043 $1,109,346,131
1978 $149,788,617,886 $905,709,076
1977 $175,226,595,860 $746,650,613
1976 $154,196,810,059 $637,753,853
1975 $163,687,619,736 $571,863,500
1974 $144,418,433,058 $308,458,423
1973 $138,764,340,892 $290,746,157
1972 $113,871,930,714 $246,457,838
1971 $99,959,013,880 $222,952,504
1970 $92,752,930,873 $219,900,006
1969 $79,847,786,729 $188,700,037
1968 $70,980,323,819 $172,200,018
1967 $73,011,350,596 $159,560,018
1966 $76,854,053,259 $124,525,703
1965 $70,565,994,356 $148,799,980
1964 $59,821,862,703 $129,999,994
1963 $50,812,227,919 $128,000,000
1962 $47,310,737,754 $125,000,008
1961 $50,162,299,350 $122,000,016
1960 $59,846,235,025 $119,000,024

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

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

GDP per capita in China vs Rwanda by year

China
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
China Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,303 $27,105 $1,000 $3,711
2023 $12,951 $25,179 $1,027 $3,399
2022 $12,971 $23,032 $975 $3,099
2021 $12,887 $20,843 $830 $2,733
2020 $10,627 $18,267 $779 $2,285
2019 $10,343 $17,601 $810 $2,336
2018 $10,086 $16,298 $772 $2,125
2017 $8,980 $15,022 $758 $1,968
2016 $8,255 $14,157 $730 $1,866
2015 $8,175 $13,463 $734 $1,781
2014 $7,781 $12,942 $725 $1,678
2013 $7,147 $12,228 $705 $1,512
2012 $6,405 $11,420 $707 $1,455
2011 $5,704 $10,457 $651 $1,413
2010 $4,629 $9,411 $594 $1,314
2009 $3,898 $8,448 $564 $1,241
2008 $3,523 $7,713 $528 $1,191
2007 $2,735 $6,935 $426 $1,079
2006 $2,129 $5,946 $357 $1,002
2005 $1,778 $5,148 $324 $914
2004 $1,531 $4,505 $269.5 $832
2003 $1,307 $4,007 $249 $775
2002 $1,164 $3,591 $234 $760
2001 $1,065 $3,258 $237.3 $670
2000 $969 $2,964 $251.9 $609
1999 $881 $2,690 $264.7 $554
1998 $835 $2,483 $246.2 $528
1997 $787 $2,297 $238.7 $500
1996 $713 $2,088 $206 $499
1995 $613 $1,884 $228 $514
1994 $476 $1,680 $111 $311
1993 $379 $1,471 $247 $521
1992 $368 $1,276 $264.1 $575
1991 $334 $1,105 $254 $542
1990 $319 $991 $346 $549
1989 $311 - $335 -
1988 $284 - $344 -
1987 $252.3 - $320 -
1986 $282.4 - $297.7 -
1985 $295 - $271.6 -
1984 $251.2 - $259.9 -
1983 $225.9 - $250.6 -
1982 $203.7 - $246.4 -
1981 $197.4 - $254.6 -
1980 $195.1 - $234.4 -
1979 $184.3 - $213.8 -
1978 $156.7 - $179.9 -
1977 $185.7 - $152.7 -
1976 $165.7 - $134.4 -
1975 $178.6 - $124.1 -
1974 $160.4 - $68.9 -
1973 $157.3 - $66.9 -
1972 $132.1 - $58.4 -
1971 $118.8 - $54.4 -
1970 $113.3 - $55.2 -
1969 $100.3 - $48.9 -
1968 $91.6 - $46 -
1967 $96.8 - $44 -
1966 $104.5 - $35.4 -
1965 $98.7 - $43.5 -
1964 $85.7 - $39 -
1963 $74.5 - $39.3 -
1962 $71.1 - $39.2 -
1961 $76 - $39.3 -
1960 $89.7 - $39.4 -

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

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

China's GDP per capita is $13,303, ranking 76/197, compared to $1,000 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Rwanda ranks 168th at $3,711.

Economic indicators

China Rwanda
Gross domestic product
$18.7T
2024
$14.3B
2024
GDP rank
2/197
2024
144/197
2024
GDP growth
4.98%
2023-2024
8.89%
2023-2024
GDP per capita
$13,303
2024
$1,000
2024
GDP per capita rank
76/197
2024
178/197
2024
GDP per capita, PPP
$27,105
2024
$3,711
2024
GDP per capita PPP rank
77/197
2024
168/197
2024
Government debt
$16.6T
2024
$9.58B
2024
Debt-to-GDP ratio
88.3%
2024
67.2%
2024
Government debt per person
$11,749
2024
$672
2024
Government debt per person rank
47/185
2024
157/185
2024
Average annual personal income after taxes
$9,826
2026
$2,194
2026
Market capitalization of domestic companies
$11.8T
2024
$2.75B
2024
Number of millionaires
6,327,000
2025
n/a
Number of billionaires
450
2025
n/a
Income share by richest 10%
28.4%
2022
33.4%
2023
Income share by poorest 10%
3.1%
2022
3.1%
2023
Government expenditure, % of GDP
32.9%
2024
28.8%
2024
Consumer prices inflation
0.2%
2023-2024
1.77%
2023-2024
Central bank interest rate
3.1%
2024
6.75%
2025
Unemployment rate
5.11%
2021
11.3%
2024
Population
1402578808
14975051

Spending and national debt comparison by year

China
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
China Rwanda
Government spending Government debt Government spending Government debt
2024 32.9% 88.3% 28.8% 67.2%
2023 32.7% 82% 27% 63.4%
2022 32.6% 75.5% 29.7% 60.9%
2021 31.9% 70.1% 31.6% 67.3%
2020 34.8% 69% 33.5% 68.7%
2019 33.6% 59.4% 28.2% 53.6%
2018 32.6% 55.6% 26.4% 49.2%
2017 32% 53.9% 25.1% 45.6%
2016 31.7% 49.7% 25.1% 41.1%
2015 31% 40.8% 26.6% 33.1%
2014 28.4% 39.3% 27.5% 29.1%
2013 28.1% 36.4% 26.2% 26.7%
2012 27.7% 33.8% 24.6% 19.1%
2011 26.6% 33.2% 24.7% 18.7%
2010 24.7% 33.3% 23.8% 18.8%
2009 25.2% 34% 22.3% 18.5%
2008 22.2% 26.7% 22.5% 18.3%
2007 17.9% 28.7% 22.4% 22.1%
2006 18.1% 25.2% 20.6% 22.5%
2005 18% 25.9% 19.9% 58.9%
2004 17.6% 26% 17.9% 80.9%
2003 18% 26.4% 18.5% 79.5%
2002 18.2% 25.6% 20.5% 92%
2001 17.2% 24.3% 19.1% 84%
2000 16.1% 22.7% 18.2% 86%
1999 14.9% 21.6% 22.4% 78.4%
1998 12.6% 20.4% 16.4% 70.1%
1997 11.5% 20.4% 17% 72.2%
1996 11% 21.2% 19.5% 83.4%
1995 11.1% 21.4% 18% 100.8%
1994 12.4% - 13.3% -
1993 13.4% - 20.3% -
1992 14.6% - 21.5% -
1991 16.5% - - -
1990 18.2% - - -
1989 18.6% - - -
1988 20.9% 4.46% - -
1987 23.4% 3.6% - -
1986 25.6% 3.24% - -
1985 25.8% 3.31% - -
1984 26.9% 0.97% - -
1983 28.3% - - -
1982 27.9% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

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

In 2024, China's government spending was $6.18T, accounting for 32.9% of its GDP, while Rwanda spent $4.1B, or 28.8% of GDP.

Debt-to-GDP ratio is 88.3% in China and 67.2% in Rwanda, ranking 34/185 and 65/185, respectively.

Government deficit by year

Deficit/surplus
China

Rwanda
1x
Year Deficit/surplus, % of GDP
China Rwanda
2024 -7.34% -6.57%
2023 -6.71% -5.04%
2022 -7.32% -5.74%
2021 -5.9% -7%
2020 -9.56% -9.54%
2019 -6% -5.08%
2018 -4.2% -2.57%
2017 -3.34% -2.52%
2016 -3.33% -2.27%
2015 -2.5% -2.68%
2014 -0.67% -3.92%
2013 -0.82% -1.27%
2012 -0.3% -2.38%
2011 -0.1% -0.86%
2010 -0.36% -0.64%
2009 -1.72% 0.26%
2008 -0.02% 0.83%
2007 0.06% -1.56%
2006 -1.13% -0.03%
2005 -1.38% 1.12%
2004 -1.49% 2.27%
2003 -2.36% -1.23%
2002 -2.84% -2.03%
2001 -2.56% -1.8%
2000 -2.81% -0.22%
1999 -2.3% -4.41%
1998 -1.08% -2.59%
1997 -0.73% -2.22%
1996 -0.73% -5.01%
1995 -0.94% -2.04%
1994 -1.68% -9.54%
1993 -0.89% -6.6%
1992 -1.22% -7.21%
1991 -1.04% -
1990 -0.72% -
1989 -0.91% -
1988 -2.22% -
1987 -2.08% -
1986 -1.82% -
1985 -0.45% -
1984 -1.44% -
1983 -1.61% -
1982 -1.33% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

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

In 2024, China's government deficit, the difference between spending and revenue, was $1.38T, equivalent to 7.34% of GDP. This compares to Rwanda's deficit of $936M, or 6.57% of GDP.

Over the past 33 years, China recorded a fiscal deficit in 32 of those years, while Rwanda ran a deficit in 29 years. On average, China posted an annual deficit equal to 2.55% of GDP, compared to deficit of 3.03% of GDP for Rwanda.

Inflation comparison by year

Inflation
China

Rwanda
1x
Year Consumer prices inflation
China Rwanda
2024 0.2% 1.77%
2023 0.2% 19.8%
2022 2% 17.7%
2021 0.9% -0.39%
2020 2.5% 9.85%
2019 2.9% 3.35%
2018 2.1% -0.31%
2017 1.6% 8.28%
2016 2% 7.17%
2015 1.5% 2.53%
2014 2% 2.35%
2013 2.7% 5.92%
2012 2.6% 10.3%
2011 5.4% 3.08%
2010 3.3% -0.25%
2009 -0.7% 12.9%
2008 5.9% 15.4%
2007 4.7% 9.08%
2006 1.5% 8.88%
2005 1.8% 9.01%
2004 3.9% 12.3%
2003 1.1% 7.45%
2002 -0.8% 1.99%
2001 0.7% 3.34%
2000 0.4% 3.9%
1999 -1.4% -2.41%
1998 -0.8% 6.21%
1997 2.8% 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/china/rwanda | CC BY

Over the past 28 years, China has recorded an average annual inflation rate of 1.82%, compared with 6.83% in Rwanda. In 2024, inflation was 0.2% in China and 1.77% in Rwanda.

Top exports between countries

China
Export category Export value
Machinery & equipment $237M
Textiles & consumer goods $93.4M
Animal & marine products $82.9M
Metals $34.8M
Chemicals & pharma $29.3M
Raw materials & minerals $14.8M
Processed food, beverages & tobacco $8.47M
Wood & paper products $4.24M
Miscellaneous $3.86M
Precious metals & jewellery $369K
Rwanda
Export category Export value
Raw materials & minerals $9.58M
Raw agricultural goods $5.18M
Chemicals & pharma $1.46M
Precious metals & jewellery $1.39M
Textiles & consumer goods $514K
Animal & marine products $350K
Machinery & equipment $120K
Metals $28K
Processed food, beverages & tobacco $3K
Wood & paper products $3K

Balance of trade

China Rwanda
Current account balance
$424B
2024
-$1.81B
2024
Current account balance ranking
1/190
2024
140/190
2024
Current account balance, % of GDP
+2.26%
2024
-12.7%
2024
Goods imports
$2.64T
2024
$5.55B
2024
Goods exports
$3.41T
2024
$3.2B
2024
Service imports
$613B
2024
$991M
2024
Service exports
$384B
2024
$1.08B
2024
Imports of goods and services, % of GDP
17.2%
2024
39.1%
2024
Exports of goods and services, % of GDP
20%
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.

China Rwanda
Economic freedom 48.3 56.5
Economic freedom ranking 170/197 121/197
Property rights 40.9 60.3
Government integrity 42.3 53.9
Judicial effectiveness 38.6 27.5
Tax burden 69.3 80.6
Government spending 67.8 75.7
Fiscal health 4.4 37.5
Business freedom 68.7 60.1
Labor freedom 57.9 49.1
Monetary freedom 76.1 72.3
Trade freedom 73.4 61.8
Investment freedom 20 60
Financial freedom 20 40

Economic freedom comparison by year

China
Rwanda
1x
Year Economic freedom index
China Rwanda
2026 48.3 56.5
2025 49 54.8
2024 48.5 51.6
2023 48.3 52.2
2022 48 57.1
2021 58.4 68.3
2020 59.5 70.9
2019 58.4 71.1
2018 57.8 69.1
2017 57.4 67.6
2016 52 63.1
2015 52.7 64.8
2014 52.5 64.7
2013 51.9 64.1
2012 51.2 64.9
2011 52 62.7
2010 51 59.1
2009 53.2 54.2
2008 53.1 54.2
2007 52 52.4
2006 53.6 52.8
2005 53.7 51.7
2004 52.5 53.3
2003 52.6 47.8
2002 52.8 50.4
2001 52.6 45.4
2000 56.4 42.3
1999 54.8 39.8
1998 53.1 39.1
1997 51.7 38.3
1996 51.3 -
1995 52 -

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

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

The Economic Freedom Index for China is 48.3, ranking 170/197, 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

China Rwanda
Services, % of GDP
56.7%
2024
47.6%
2024
Industry, % of GDP
36.5%
2024
21%
2024
Agriculture, forestry, and fishing, % of GDP
6.78%
2024
24.6%
2024
GNI, Atlas method
$19.3T
2024
$14.8B
2024
GNI per capita, PPP
$26,920
2024
$3,620
2024
Total reserves including gold
$3.46T
2024
$2.41B
2024
Total reserves ranking
1/177
2024
123/177
2024
Net foreign direct investment
$154B
2024
-$560M
2024
Net inflows of foreign direct investment
$18.6B
2024
$573M
2024
Net outflows of foreign direct investment
$172B
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI
1.89%
2024
3.09%
2024
Poverty at national poverty lines
0%
2020
27.4%
2023
Gross capital formation, % of GDP
40.6%
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/china/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. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.