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Economy of Qatar vs Rwanda compared: GDP & Debt

Updated on by Georank team

Qatar has a GDP of $219B compared to $14.3B for Rwanda, ranking 56/197 and 144/197 by economy size, respectively.

Qatar has $90.2B in government debt (41.2% of GDP), compared to $9.58B (67.2% of GDP) in Rwanda.

Qatar vs Rwanda GDP by year

Qatar
Rwanda
1x
Year GDP, current $
Qatar Rwanda
2024 $219,162,637,363 $14,251,642,235
2023 $217,308,516,484 $14,331,722,703
2022 $235,709,340,659 $13,316,161,002
2021 $179,732,142,857 $11,078,787,090
2020 $144,411,538,462 $10,174,386,857
2019 $176,371,428,571 $10,349,300,277
2018 $183,335,164,835 $9,637,904,521
2017 $161,099,175,824 $9,252,833,891
2016 $151,732,142,857 $8,695,272,058
2015 $161,739,835,165 $8,543,760,200
2014 $206,224,725,275 $8,238,966,124
2013 $198,727,747,253 $7,819,964,030
2012 $186,833,516,484 $7,654,761,050
2011 $167,775,274,725 $6,884,913,658
2010 $123,627,197,802 $6,124,756,654
2009 $97,798,351,648 $5,674,476,969
2008 $115,270,054,945 $5,179,854,065
2007 $79,712,087,912 $4,070,507,895
2006 $60,882,142,857 $3,319,784,539
2005 $44,530,494,505 $2,933,819,766
2004 $31,734,065,934 $2,376,496,067
2003 $23,533,791,209 $2,138,237,279
2002 $19,363,736,264 $1,966,003,468
2001 $17,538,461,538 $1,966,600,715
2000 $17,759,890,110 $2,068,836,754
1999 $12,393,131,868 $2,157,108,263
1998 $10,255,495,027 $1,989,343,546
1997 $11,297,802,115 $1,851,558,197
1996 $9,059,340,385 $1,382,334,879
1995 $8,137,911,978 $1,293,535,193
1994 $7,374,450,769 $753,636,370
1993 $7,156,593,654 $1,971,525,712
1992 $7,646,153,984 $2,029,026,962
1991 $6,883,516,484 $1,911,600,237
1990 $7,360,439,423 $2,550,185,679
1989 $6,487,912,088 $2,405,022,593
1988 $6,038,187,033 $2,395,492,687
1987 $5,446,428,681 $2,157,432,668
1986 $5,053,021,951 $1,944,710,684
1985 $6,153,296,456 $1,715,626,331
1984 $6,704,395,824 $1,587,413,084
1983 $6,467,582,308 $1,479,687,587
1982 $7,596,703,214 $1,407,243,139
1981 $8,661,263,764 $1,407,062,527
1980 $7,829,165,262 $1,254,765,642
1979 $5,632,962,997 $1,109,346,131
1978 $4,052,000,413 $905,709,076
1977 $3,617,564,638 $746,650,613
1976 $3,284,273,987 $637,753,853
1975 $2,512,773,166 $571,863,500
1974 $2,401,403,227 $308,458,423
1973 $793,885,560 $290,746,157
1972 $510,262,500 $246,457,838
1971 $387,703,106 $222,952,504
1970 $301,791,302 $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/qatar/rwanda | CC BY

GDP per capita in Qatar vs Rwanda by year

Qatar
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Qatar Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $76,689 $126,046 $1,000 $3,711
2023 $81,817 $129,368 $1,027 $3,399
2022 $88,701 $122,921 $975 $3,099
2021 $71,752 $116,833 $830 $2,733
2020 $51,684 $82,149 $779 $2,285
2019 $66,841 $107,503 $810 $2,336
2018 $71,040 $110,033 $772 $2,125
2017 $63,280 $99,358 $758 $1,968
2016 $61,254 $89,935 $730 $1,866
2015 $68,985 $102,546 $734 $1,781
2014 $95,841 $148,389 $725 $1,678
2013 $103,697 $169,203 $705 $1,512
2012 $108,470 $180,939 $707 $1,455
2011 $103,262 $174,620 $651 $1,413
2010 $76,463 $151,646 $594 $1,314
2009 $60,786 $125,898 $564 $1,241
2008 $80,781 $126,015 $528 $1,191
2007 $65,954 $124,056 $426 $1,079
2006 $62,582 $127,181 $357 $1,002
2005 $53,950 $115,250 $324 $914
2004 $41,036 $110,958 $269.5 $832
2003 $31,602 $94,120 $249 $775
2002 $27,227 $93,177 $234 $760
2001 $25,871 $89,805 $237.3 $670
2000 $27,535 $88,849 $251.9 $609
1999 $20,234 $84,690 $264.7 $554
1998 $17,665 $84,486 $246.2 $528
1997 $20,523 $79,219 $238.7 $500
1996 $17,125 $62,331 $206 $499
1995 $15,823 $60,321 $228 $514
1994 $14,765 $59,415 $111 $311
1993 $14,770 $59,125 $247 $521
1992 $16,280 $60,387 $264.1 $575
1991 $15,133 $54,759 $254 $542
1990 $16,722 $55,659 $346 $549
1989 $15,243 - $335 -
1988 $14,682 - $344 -
1987 $13,719 - $320 -
1986 $13,213 - $297.7 -
1985 $16,815 - $271.6 -
1984 $19,272 - $259.9 -
1983 $19,616 - $250.6 -
1982 $24,385 - $246.4 -
1981 $29,505 - $254.6 -
1980 $28,375 - $234.4 -
1979 $21,777 - $213.8 -
1978 $16,757 - $179.9 -
1977 $16,058 - $152.7 -
1976 $15,710 - $134.4 -
1975 $13,014 - $124.1 -
1974 $13,540 - $68.9 -
1973 $4,905 - $66.9 -
1972 $3,483 - $58.4 -
1971 $2,952 - $54.4 -
1970 $2,594 - $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/qatar/rwanda | CC BY

Qatar's GDP per capita is $76,689, ranking 11/197, compared to $1,000 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), Qatar ranks 5th at $126,046, while Rwanda ranks 168th at $3,711.

Economic indicators

Qatar Rwanda
Gross domestic product
$219B
2024
$14.3B
2024
GDP rank
56/197
2024
144/197
2024
GDP growth
2.36%
2023-2024
8.89%
2023-2024
GDP per capita
$76,689
2024
$1,000
2024
GDP per capita rank
11/197
2024
178/197
2024
GDP per capita, PPP
$126,046
2024
$3,711
2024
GDP per capita PPP rank
5/197
2024
168/197
2024
Government debt
$90.2B
2024
$9.58B
2024
Debt-to-GDP ratio
41.2%
2024
67.2%
2024
Government debt per person
$31,579
2024
$672
2024
Government debt per person rank
23/185
2024
157/185
2024
Average annual personal income after taxes
$35,660
2026
$2,194
2026
Market capitalization of domestic companies
$170M
2024
$2.75B
2024
Number of millionaires
26,163
2025
n/a
Number of billionaires
2
2025
n/a
Income share by richest 10%
25.8%
2017
33.4%
2023
Income share by poorest 10%
2.6%
2017
3.1%
2023
Government expenditure, % of GDP
26%
2024
28.8%
2024
Consumer prices inflation
1.27%
2023-2024
1.77%
2023-2024
Central bank interest rate
4.1%
2025
6.75%
2025
Unemployment rate
0.13%
2022
11.3%
2024
Population
2999260
14975051

Spending and national debt comparison by year

Qatar
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
Qatar Rwanda
Government spending Government debt Government spending Government debt
2024 26% 41.2% 28.8% 67.2%
2023 27.3% 43.7% 27% 63.4%
2022 24.3% 42.6% 29.7% 60.9%
2021 29.4% 58.4% 31.6% 67.3%
2020 34.7% 72.6% 33.5% 68.7%
2019 32.5% 62.1% 28.2% 53.6%
2018 28.9% 52.2% 26.4% 49.2%
2017 34.7% 51.6% 25.1% 45.6%
2016 40.1% 46.7% 25.1% 41.1%
2015 38.6% 35.5% 26.6% 33.1%
2014 32.3% 24.9% 27.5% 29.1%
2013 28.3% 30.9% 26.2% 26.7%
2012 31% 32.1% 24.6% 19.1%
2011 28.5% 33.5% 24.7% 18.7%
2010 32% 30.4% 23.8% 18.8%
2009 36.4% 36% 22.3% 18.5%
2008 23.5% 11.4% 22.5% 18.3%
2007 29.5% 9.37% 22.4% 22.1%
2006 29.5% 13.9% 20.6% 22.5%
2005 29% 19.1% 19.9% 58.9%
2004 29.9% 30.1% 17.9% 80.9%
2003 28.5% 38.8% 18.5% 79.5%
2002 31.6% 47.7% 20.5% 92%
2001 32.1% 59.2% 19.1% 84%
2000 29.8% 51.6% 18.2% 86%
1999 42.4% 81.8% 22.4% 78.4%
1998 55.1% 76.6% 16.4% 70.1%
1997 47.6% 54.4% 17% 72.2%
1996 55.2% 57.8% 19.5% 83.4%
1995 52.2% 50.2% 18% 100.8%
1994 59.8% 54.8% 13.3% -
1993 62.8% 46.3% 20.3% -
1992 54.2% 19.9% 21.5% -
1991 57.5% 21.8% - -
1990 50% 12.6% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Qatar's government spending was $56.9B, accounting for 26% of its GDP, while Rwanda spent $4.1B, or 28.8% of GDP.

Debt-to-GDP ratio is 41.2% in Qatar and 67.2% in Rwanda, ranking 130/185 and 65/185, respectively.

Government deficit by year

Deficit/surplus
Qatar

Rwanda
1x
Year Deficit/surplus, % of GDP
Qatar Rwanda
2024 0.69% -6.57%
2023 5.56% -5.04%
2022 10.4% -5.74%
2021 0.24% -7%
2020 -2.13% -9.54%
2019 1% -5.08%
2018 2.26% -2.57%
2017 -6.82% -2.52%
2016 -9.2% -2.27%
2015 18.4% -2.68%
2014 13.4% -3.92%
2013 19.3% -1.27%
2012 8.55% -2.38%
2011 5.24% -0.86%
2010 4.6% -0.64%
2009 14.1% 0.26%
2008 9.49% 0.83%
2007 10.3% -1.56%
2006 8.39% -0.03%
2005 9.8% 1.12%
2004 17.7% 2.27%
2003 6.71% -1.23%
2002 7.89% -2.03%
2001 4.48% -1.8%
2000 4.62% -0.22%
1999 -4.35% -4.41%
1998 -7% -2.59%
1997 -9.4% -2.22%
1996 -8.73% -5.01%
1995 -5.78% -2.04%
1994 -11.8% -9.54%
1993 -9.53% -6.6%
1992 -2.74% -7.21%
1991 -2.57% -
1990 3.23% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Qatar's government surplus, the difference between spending and revenue, was $1.52B, equivalent to 0.69% of GDP. This compares to Rwanda's deficit of $936M, or 6.57% of GDP.

Over the past 33 years, Qatar recorded a fiscal deficit in 11 of those years, while Rwanda ran a deficit in 29 years. On average, Qatar posted an annual surplus equal to 3.2% of GDP, compared to deficit of 3.03% of GDP for Rwanda.

Inflation comparison by year

Inflation
Qatar

Rwanda
1x
Year Consumer prices inflation
Qatar Rwanda
2024 1.27% 1.77%
2023 3.03% 19.8%
2022 5% 17.7%
2021 2.3% -0.39%
2020 -2.54% 9.85%
2019 -0.67% 3.35%
2018 0.26% -0.31%
2017 0.39% 8.28%
2016 2.68% 7.17%
2015 1.81% 2.53%
2014 3.35% 2.35%
2013 3.22% 5.92%
2012 2.32% 10.3%
2011 1.14% 3.08%
2010 -2.43% -0.25%
2009 -4.86% 12.9%
2008 15.1% 15.4%
2007 13.8% 9.08%
2006 11.8% 8.88%
2005 8.81% 9.01%
2004 6.8% 12.3%
2003 2.26% 7.45%
2002 0.24% 1.99%
2001 1.47% 3.34%
2000 1.65% 3.9%
1999 2.18% -2.41%
1998 2.95% 6.21%
1997 4.83% 12%

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

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

Over the past 28 years, Qatar has recorded an average annual inflation rate of 3.15%, compared with 6.83% in Rwanda. In 2024, inflation was 1.27% in Qatar and 1.77% in Rwanda.

Top exports between countries

Qatar
Export category Export value
Chemicals & pharma $2.34M
Machinery & equipment $989K
Raw materials & minerals $44K
Rwanda
Export category Export value
Processed food, beverages & tobacco $1.96M
Machinery & equipment $207K
Raw materials & minerals $151K
Raw agricultural goods $125K
Chemicals & pharma $6K
Wood & paper products $6K
Textiles & consumer goods $3K

Balance of trade

Qatar Rwanda
Current account balance
$37.9B
2024
-$1.81B
2024
Current account balance ranking
16/190
2024
140/190
2024
Current account balance, % of GDP
+17.3%
2024
-12.7%
2024
Goods imports
$32.6B
2024
$5.55B
2024
Goods exports
$95B
2024
$3.2B
2024
Service imports
$37.1B
2024
$991M
2024
Service exports
$30.2B
2024
$1.08B
2024
Imports of goods and services, % of GDP
31.6%
2022
39.1%
2024
Exports of goods and services, % of GDP
68.6%
2022
30.8%
2024

Economic freedom indices

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

Qatar Rwanda
Economic freedom 70.2 56.5
Economic freedom ranking 37/197 121/197
Property rights 66.2 60.3
Government integrity 53.5 53.9
Judicial effectiveness 41.5 27.5
Tax burden 99.9 80.6
Government spending 79.9 75.7
Fiscal health 96.6 37.5
Business freedom 68 60.1
Labor freedom 58.5 49.1
Monetary freedom 76 72.3
Trade freedom 81.8 61.8
Investment freedom 60 60
Financial freedom 60 40

Economic freedom comparison by year

Qatar
Rwanda
1x
Year Economic freedom index
Qatar Rwanda
2026 70.2 56.5
2025 70.2 54.8
2024 68.8 51.6
2023 68.6 52.2
2022 67.7 57.1
2021 72 68.3
2020 72.3 70.9
2019 72.6 71.1
2018 72.6 69.1
2017 73.1 67.6
2016 70.7 63.1
2015 70.8 64.8
2014 71.2 64.7
2013 71.3 64.1
2012 71.3 64.9
2011 70.5 62.7
2010 69 59.1
2009 65.8 54.2
2008 62.2 54.2
2007 62.9 52.4
2006 62.4 52.8
2005 63.5 51.7
2004 66.5 53.3
2003 65.9 47.8
2002 61.9 50.4
2001 60 45.4
2000 62 42.3
1999 62 39.8
1998 - 39.1
1997 - 38.3

Data sources: The Heritage Foundation | Economic Freedom Index (1997–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Qatar is 70.2, ranking 37/197, 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

Qatar Rwanda
Services, % of GDP
46.1%
2024
47.6%
2024
Industry, % of GDP
58.2%
2024
21%
2024
Agriculture, forestry, and fishing, % of GDP
0.29%
2024
24.6%
2024
GNI, Atlas method
$221B
2024
$14.8B
2024
GNI per capita, PPP
$121,900
2024
$3,620
2024
Total reserves including gold
$54B
2024
$2.41B
2024
Total reserves ranking
40/177
2024
123/177
2024
Net foreign direct investment
$1.1B
2024
-$560M
2024
Net inflows of foreign direct investment
$460M
2024
$573M
2024
Net outflows of foreign direct investment
$1.56B
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI n/a
3.09%
2024
Poverty at national poverty lines n/a
27.4%
2023
Gross capital formation, % of GDP
30.6%
2022
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/qatar/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 (1997–2026, 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.