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Economy of Kenya vs Rwanda compared: GDP & Debt

Updated on by Georank

Kenya has a GDP of $136B compared to $16.4B for Rwanda, ranking 62/197 and 142/197 by economy size, respectively.

Kenya has $94.3B in government debt (69.3% of GDP), compared to $10.6B (64.6% of GDP) in Rwanda.

Kenya vs Rwanda GDP by year

Kenya
Rwanda
1x
Year GDP, current $
Kenya Rwanda
2025 $135,941,278,879 $16,372,132,990
2024 $120,397,537,850 $15,111,064,182
2023 $107,500,884,685 $14,806,501,437
2022 $114,448,978,153 $13,747,404,814
2021 $109,703,658,905 $11,252,894,910
2020 $100,657,505,751 $10,487,146,253
2019 $100,378,436,207 $10,519,272,170
2018 $92,202,979,985 $9,650,161,136
2017 $82,036,510,877 $9,164,345,443
2016 $74,815,144,164 $8,596,812,241
2015 $70,120,446,897 $8,447,064,079
2014 $68,285,796,514 $8,129,984,484
2013 $61,671,440,408 $7,714,276,920
2012 $56,396,704,672 $7,556,673,276
2011 $46,869,473,151 $6,802,676,034
2010 $45,405,615,064 $6,052,276,078
2009 $42,347,217,913 $5,603,399,015
2008 $35,895,153,328 $5,120,655,375
2007 $31,958,195,182 $4,017,977,507
2006 $25,825,512,284 $3,274,207,945
2005 $18,737,895,513 $2,933,819,766
2004 $16,095,337,094 $2,376,496,067
2003 $14,904,517,650 $2,138,237,279
2002 $13,147,736,899 $1,966,003,468
2001 $12,986,007,426 $1,966,600,715
2000 $12,705,350,098 $2,068,836,754
1999 $12,896,010,459 $2,157,108,263
1998 $14,093,998,844 $1,989,343,546
1997 $13,115,764,358 $1,851,558,197
1996 $12,045,865,396 $1,382,334,879
1995 $9,046,320,255 $1,293,535,193
1994 $7,148,148,564 $753,636,370
1993 $5,751,786,643 $1,971,525,712
1992 $8,209,120,763 $2,029,026,962
1991 $8,151,488,783 $1,911,600,237
1990 $8,572,359,038 $2,550,185,679
1989 $8,283,114,514 $2,405,022,593
1988 $8,355,380,879 $2,395,492,687
1987 $7,970,820,369 $2,157,432,668
1986 $7,239,126,568 $1,944,710,684
1985 $6,135,034,214 $1,715,626,331
1984 $6,191,437,070 $1,587,413,084
1983 $5,979,198,314 $1,479,687,587
1982 $6,431,579,357 $1,407,243,139
1981 $6,854,491,706 $1,407,062,527
1980 $7,265,315,820 $1,254,765,642
1979 $6,234,391,113 $1,109,346,131
1978 $5,303,735,111 $905,709,076
1977 $4,494,378,764 $746,650,613
1976 $3,474,542,392 $637,753,853
1975 $3,259,345,083 $571,863,500
1974 $2,969,958,812 $308,458,423
1973 $2,509,001,324 $290,746,157
1972 $2,107,279,157 $246,457,838
1971 $1,778,391,289 $222,952,504
1970 $1,603,447,359 $219,900,006
1969 $1,458,379,417 $188,700,037
1968 $1,353,295,459 $172,200,018
1967 $1,232,559,507 $159,560,018
1966 $1,164,519,674 $124,525,703
1965 $997,919,321 $148,799,980
1964 $998,759,334 $129,999,994
1963 $926,589,349 $128,000,000
1962 $868,111,401 $125,000,008
1961 $792,959,473 $122,000,016
1960 $791,265,459 $119,000,024

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

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

GDP per capita in Kenya vs Rwanda by year

Kenya
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kenya Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $2,363 - $1,124 -
2024 $2,133 $6,644 $1,060 $3,711
2023 $1,943 $6,317 $1,061 $3,399
2022 $2,110 $5,883 $1,007 $3,099
2021 $2,061 $5,339 $843 $2,733
2020 $1,928 $4,793 $803 $2,285
2019 $1,960 $4,687 $823 $2,336
2018 $1,836 $4,412 $773 $2,125
2017 $1,667 $4,177 $751 $1,968
2016 $1,554 $3,917 $721 $1,866
2015 $1,489 $3,678 $726 $1,781
2014 $1,483 $3,359 $715 $1,678
2013 $1,371 $3,106 $695 $1,512
2012 $1,285 $2,847 $698 $1,455
2011 $1,096 $2,750 $643 $1,413
2010 $1,092 $2,635 $587 $1,314
2009 $1,048 $2,480 $557 $1,241
2008 $916 $2,459 $522 $1,191
2007 $840 $2,481 $421 $1,079
2006 $700 $2,330 $352 $1,002
2005 $523 $2,189 $324 $914
2004 $464 $2,066 $269.5 $832
2003 $443 $1,975 $249 $775
2002 $403 $1,940 $234 $760
2001 $411 $1,961 $237.3 $670
2000 $415 $1,907 $251.9 $609
1999 $434 $1,910 $264.7 $554
1998 $488 $1,895 $246.2 $528
1997 $467 $1,865 $238.7 $500
1996 $441 $1,875 $206 $499
1995 $340 $1,818 $228 $514
1994 $276.4 $1,754 $111 $311
1993 $229 $1,723 $247 $521
1992 $337 $1,728 $264.1 $575
1991 $345 $1,756 $254 $542
1990 $374 $1,729 $346 $549
1989 $374 - $335 -
1988 $391 - $344 -
1987 $387 - $320 -
1986 $364 - $297.7 -
1985 $320 - $271.6 -
1984 $334 - $259.9 -
1983 $335 - $250.6 -
1982 $374 - $246.4 -
1981 $413 - $254.6 -
1980 $454 - $234.4 -
1979 $403 - $213.8 -
1978 $355 - $179.9 -
1977 $311 - $152.7 -
1976 $248.9 - $134.4 -
1975 $241.2 - $124.1 -
1974 $227.2 - $68.9 -
1973 $198.6 - $66.9 -
1972 $172.6 - $58.4 -
1971 $150.9 - $54.4 -
1970 $141 - $55.2 -
1969 $133.3 - $48.9 -
1968 $128.7 - $46 -
1967 $121.9 - $44 -
1966 $119.8 - $35.4 -
1965 $106.9 - $43.5 -
1964 $111.3 - $39 -
1963 $107.4 - $39.3 -
1962 $104.6 - $39.2 -
1961 $99.3 - $39.3 -
1960 $102.8 - $39.4 -

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

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

Kenya's GDP per capita is $2,363, ranking 154/197, compared to $1,124 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), Kenya ranks 149th at $6,644, while Rwanda ranks 168th at $3,711.

Economic indicators

Kenya Rwanda
Gross domestic product
$136B
2025
$16.4B
2025
GDP rank
62/197
2025
142/197
2025
GDP growth
4.63%
2024-2025
9.38%
2024-2025
GDP per capita
$2,363
2025
$1,124
2025
GDP per capita rank
154/197
2025
178/197
2025
GDP per capita, PPP
$6,644
2024
$3,711
2024
GDP per capita PPP rank
149/197
2024
168/197
2024
Government debt
$94.3B
2025
$10.6B
2025
Debt-to-GDP ratio
69.3%
2025
64.6%
2025
Government debt per person
$1,638
2025
$726
2025
Government debt per person rank
126/185
2025
155/185
2025
Average annual personal income after taxes
$2,538
2026
$1,614
2026
Market capitalization of domestic companies
$22.8B
2025
$3.2B
2025
Income share by richest 10%
30.9%
2022
33.4%
2023
Income share by poorest 10%
2.9%
2022
3.1%
2023
Government expenditure, % of GDP
24%
2025
24.1%
2025
Consumer prices inflation
4.07%
2024-2025
5.91%
2024-2025
Central bank interest rate
8.75%
2026
6.75%
2025
Unemployment rate
5.44%
2022
5.36%
2025
Population
59218766
15062056

Spending and national debt comparison by year

Kenya
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
Kenya Rwanda
Government spending Government debt Government spending Government debt
2025 24% 69.3% 24.1% 64.6%
2024 23.2% 67.3% 27.1% 63.4%
2023 22.6% 73.4% 26.2% 61.4%
2022 23.1% 67.8% 28.7% 59%
2021 24% 68.2% 31% 66.2%
2020 24.8% 68% 32.5% 66.7%
2019 24.4% 59.1% 27.7% 52.8%
2018 24.5% 56.4% 26.3% 49.2%
2017 25.2% 53.9% 25.3% 46.1%
2016 25.3% 50.4% 25.4% 41.5%
2015 23.8% 45.8% 26.9% 33.5%
2014 23.4% 41.3% 27.8% 29.5%
2013 23.2% 39.8% 26.5% 27%
2012 22.1% 37.6% 24.9% 19.3%
2011 20.1% 35.7% 25% 18.9%
2010 21.5% 36.7% 24.1% 19%
2009 20.3% 36% 22.6% 18.7%
2008 18.9% 34.3% 22.7% 18.5%
2007 18.1% 34.2% 22.7% 22.4%
2006 17.3% 37.1% 20.9% 22.8%
2005 16.2% 37.4% 20.2% 59.8%
2004 15.4% 40.8% 18.1% 82.1%
2003 16% 43.8% 18.8% 80.7%
2002 15.7% 42% 20.7% 93.4%
2001 14.9% 41.3% 19.3% 85.2%
2000 14.1% 43.1% 18.5% 87.2%
1999 13.7% 38.4% 22.7% 79.5%
1998 15.3% 38.5% 16.6% 71.1%
1997 15.6% 36% 17.2% 73.3%
1996 15.2% 40.5% 19.8% 84.6%
1995 17.3% 52.1% 18.3% 102.2%
1994 18.8% 57% 13.5% -
1993 18.9% 61.6% 20.6% -
1992 17.6% 41.2% 21.8% -
1991 16.4% 43% - -
1990 17.2% 37.6% - -
1989 16.3% 33.4% - -
1988 15.9% 33.9% - -
1987 15.5% 36.3% - -
1986 15.3% 31.3% - -
1985 15.6% 28.8% - -
1984 14.9% 25.6% - -
1983 14.6% 26.1% - -
1982 16.2% 26.9% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-07-08).

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

In 2025, Kenya's government spending was $32.6B, accounting for 24% of its GDP, while Rwanda spent $3.95B, or 24.1% of GDP.

Debt-to-GDP ratio is 69.3% in Kenya and 64.6% in Rwanda, ranking 59/185 and 68/185, respectively.

Government deficit by year

Deficit/surplus
Kenya

Rwanda
1x
Year Deficit/surplus, % of GDP
Kenya Rwanda
2025 -6.41% -4.49%
2024 -5.74% -6.19%
2023 -5.61% -4.88%
2022 -6.01% -5.56%
2021 -7.2% -6.89%
2020 -8.13% -9.26%
2019 -7.4% -5%
2018 -6.91% -2.57%
2017 -7.37% -2.54%
2016 -7.45% -2.3%
2015 -6.68% -2.71%
2014 -5.75% -3.97%
2013 -5.25% -1.29%
2012 -5.29% -2.41%
2011 -3.64% -0.87%
2010 -3.67% -0.65%
2009 -3.12% 0.26%
2008 -1.95% 0.84%
2007 -0.95% -1.58%
2006 -0.43% -0.03%
2005 -0.19% 1.14%
2004 0.5% 2.31%
2003 -0.73% -1.25%
2002 -1.29% -2.06%
2001 -0.53% -1.83%
2000 0.38% -0.22%
1999 0.84% -4.48%
1998 -0.03% -2.63%
1997 -0.91% -2.25%
1996 -0.49% -5.08%
1995 -0.23% -2.07%
1994 -4.14% -9.68%
1993 -8.57% -6.7%
1992 -8.28% -7.31%
1991 -6.56% -
1990 -3.28% -
1989 -2.39% -
1988 -1.97% -
1987 -2.27% -
1986 -2.98% -
1985 -3.05% -
1984 -2.55% -
1983 -2.17% -
1982 -3.07% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-07-08).

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

In 2025, Kenya's government deficit, the difference between spending and revenue, was $8.72B, equivalent to 6.41% of GDP. This compares to Rwanda's deficit of $736M, or 4.49% of GDP.

Over the past 34 years, Kenya recorded a fiscal deficit in 31 of those years, while Rwanda ran a deficit in 30 years. On average, Kenya posted an annual deficit equal to 3.78% of GDP, compared to deficit of 3.06% of GDP for Rwanda.

Inflation comparison by year

Inflation
Kenya

Rwanda
1x
Year Consumer prices inflation
Kenya Rwanda
2025 4.07% 5.91%
2024 4.49% 1.77%
2023 7.67% 19.8%
2022 7.66% 17.7%
2021 6.11% -0.39%
2020 5.41% 9.85%
2019 5.24% 3.35%
2018 4.69% -0.31%
2017 8.01% 8.28%
2016 6.3% 7.17%
2015 6.58% 2.53%
2014 6.88% 2.35%
2013 5.72% 5.92%
2012 9.38% 10.3%
2011 14% 3.08%
2010 3.96% -0.25%
2009 9.23% 12.9%
2008 26.2% 15.4%
2007 9.76% 9.08%
2006 14.5% 8.88%
2005 10.3% 9.01%
2004 11.6% 12.3%
2003 9.82% 7.45%
2002 1.96% 1.99%
2001 5.74% 3.34%
2000 9.98% 3.9%
1999 5.74% -2.41%
1998 6.72% 6.21%
1997 11.4% 12%

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

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

Over the past 29 years, Kenya has recorded an average annual inflation rate of 8.25%, compared with 6.8% in Rwanda. In 2025, inflation was 4.07% in Kenya and 5.91% in Rwanda.

Top exports between countries

Kenya
Export category Export value
Chemicals & pharma $74.4M
Processed food, beverages & tobacco $61.5M
Raw materials & minerals $53.5M
Metals $35M
Machinery & equipment $27.7M
Textiles & consumer goods $25.4M
Wood & paper products $21.5M
Raw agricultural goods $8.81M
Weapons & explosives $3.13M
Miscellaneous $2.68M
Rwanda
Export category Export value
Raw materials & minerals $4.82M
Raw agricultural goods $2.78M
Chemicals & pharma $1.26M
Processed food, beverages & tobacco $1.04M
Machinery & equipment $651K
Animal & marine products $311K
Textiles & consumer goods $93K
Wood & paper products $47K
Precious metals & jewellery $22K
Metals $21K

Balance of trade

Kenya Rwanda
Current account balance
-$1.55B
2024
-$1.81B
2024
Current account balance ranking
130/190
2024
136/190
2024
Current account balance, % of GDP
-1.29%
2024
-12%
2024
Goods imports
$22.2B
2024
$5.55B
2024
Goods exports
$12.5B
2024
$3.2B
2024
Service imports
$5.64B
2024
$991M
2024
Service exports
$8.04B
2024
$1.08B
2024
Imports of goods and services, % of GDP
21.8%
2025
35.1%
2025
Exports of goods and services, % of GDP
15.8%
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.

Kenya Rwanda
Economic freedom 55.5 56.5
Economic freedom ranking 128/197 121/197
Property rights 40.2 60.3
Government integrity 32.7 53.9
Judicial effectiveness 47 27.5
Tax burden 76.3 80.6
Government spending 84.1 75.7
Fiscal health 36.2 37.5
Business freedom 61.5 60.1
Labor freedom 56.5 49.1
Monetary freedom 75.1 72.3
Trade freedom 52 61.8
Investment freedom 55 60
Financial freedom 50 40

Economic freedom comparison by year

Kenya
Rwanda
1x
Year Economic freedom index
Kenya Rwanda
2026 55.5 56.5
2025 54.8 54.8
2024 53.6 51.6
2023 52.5 52.2
2022 52.6 57.1
2021 54.9 68.3
2020 55.3 70.9
2019 55.1 71.1
2018 54.7 69.1
2017 53.5 67.6
2016 57.5 63.1
2015 55.6 64.8
2014 57.1 64.7
2013 55.9 64.1
2012 57.5 64.9
2011 57.4 62.7
2010 57.5 59.1
2009 58.7 54.2
2008 59.3 54.2
2007 59.6 52.4
2006 59.7 52.8
2005 57.9 51.7
2004 57.7 53.3
2003 58.6 47.8
2002 58.2 50.4
2001 57.6 45.4
2000 59.7 42.3
1999 58.2 39.8
1998 58.4 39.1
1997 60.1 38.3
1996 56.4 -
1995 54.5 -

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

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

The Economic Freedom Index for Kenya is 55.5, ranking 128/197, 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

Kenya Rwanda
Services, % of GDP
55.1%
2025
52.3%
2025
Industry, % of GDP
16.3%
2025
22%
2025
Agriculture, forestry, and fishing, % of GDP
23.2%
2025
20.3%
2025
GNI, Atlas method
$127B
2025
$16.7B
2025
GNI per capita, PPP
$6,910
2025
$4,070
2025
Total reserves including gold
$12.4B
2025
$1.96B
2025
Total reserves ranking
76/177
2025
128/177
2025
Net foreign direct investment
-$45.8M
2024
-$560M
2024
Net inflows of foreign direct investment
$463M
2024
$573M
2024
Net outflows of foreign direct investment
$418M
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI
4.82%
2024
2.91%
2024
Poverty at national poverty lines
39.8%
2022
27.4%
2023
Gross capital formation, % of GDP
17%
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/kenya/rwanda | CC BY

Compare countries by 7 more topics

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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. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-07-08)
  6. TradeMap (2024–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. 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.