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Economy of Rwanda vs Sierra Leone compared: GDP & Debt

Updated on by Georank

Rwanda has a GDP of $16.4B compared to $7.46B for Sierra Leone, ranking 142/197 and 160/197 by economy size, respectively.

Rwanda has $10.6B in government debt (64.6% of GDP), compared to $3.38B (45.2% of GDP) in Sierra Leone.

Rwanda vs Sierra Leone GDP by year

Rwanda
Sierra Leone
1x
Year GDP, current $
Rwanda Sierra Leone
2025 $16,372,132,990 $7,464,157,904
2024 $15,111,064,182 $6,971,127,234
2023 $14,806,501,437 $6,415,852,766
2022 $13,747,404,814 $7,121,125,277
2021 $11,252,894,910 $7,166,931,483
2020 $10,487,146,253 $6,688,307,706
2019 $10,519,272,170 $6,523,577,590
2018 $9,650,161,136 $6,390,514,689
2017 $9,164,345,443 $5,749,846,528
2016 $8,596,812,241 $6,084,297,211
2015 $8,447,064,079 $6,788,352,975
2014 $8,129,984,484 $7,686,138,791
2013 $7,714,276,920 $7,502,762,863
2012 $7,556,673,276 $6,141,666,509
2011 $6,802,676,034 $4,861,632,885
2010 $6,052,276,078 $4,262,805,967
2009 $5,603,399,015 $3,953,403,098
2008 $5,120,655,375 $4,157,895,298
2007 $4,017,977,507 $3,632,957,611
2006 $3,274,207,945 $3,263,697,467
2005 $2,933,819,766 $2,545,275,313
2004 $2,376,496,067 $2,237,350,687
2003 $2,138,237,279 $2,142,618,046
2002 $1,966,003,468 $1,933,863,911
2001 $1,966,600,715 $1,681,473,894
2000 $2,068,836,754 $635,866,404
1999 $2,157,108,263 $669,386,624
1998 $1,989,343,546 $672,368,187
1997 $1,851,558,197 $850,232,760
1996 $1,382,334,879 $941,709,423
1995 $1,293,535,193 $870,740,292
1994 $753,636,370 $911,853,802
1993 $1,971,525,712 $768,867,883
1992 $2,029,026,962 $679,940,814
1991 $1,911,600,237 $779,981,987
1990 $2,550,185,679 $649,644,098
1989 $2,405,022,593 $932,974,420
1988 $2,395,492,687 $1,055,083,933
1987 $2,157,432,668 $660,106,336
1986 $1,944,710,684 $490,181,457
1985 $1,715,626,331 $856,890,459
1984 $1,587,413,084 $1,087,471,862
1983 $1,479,687,587 $995,104,305
1982 $1,407,243,139 $1,295,361,886
1981 $1,407,062,527 $1,114,830,472
1980 $1,254,765,642 $1,100,685,845
1979 $1,109,346,131 $1,109,374,911
1978 $905,709,076 $960,728,339
1977 $746,650,613 $691,777,584
1976 $637,753,853 $594,895,942
1975 $571,863,500 $679,336,344
1974 $308,458,423 $648,590,643
1973 $290,746,157 $575,230,724
1972 $246,457,838 $465,381,340
1971 $222,952,504 $419,549,305
1970 $219,900,006 $434,410,974
1969 $188,700,037 $408,690,163
1968 $172,200,018 $329,859,732
1967 $159,560,018 $348,795,303
1966 $124,525,703 $375,479,850
1965 $148,799,980 $359,379,856
1964 $129,999,994 $371,847,461
1963 $128,000,000 $348,547,279
1962 $125,000,008 $342,721,416
1961 $122,000,016 $327,834,191
1960 $119,000,024 $322,009,962

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

GeoRank.org/economy/rwanda/sierra-leone | CC BY

GDP per capita in Rwanda vs Sierra Leone by year

Rwanda
GDP per capita

GDP per capita, PPP
Sierra Leone
GDP per capita

GDP per capita, PPP
1x
Year Current $
Rwanda Sierra Leone
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,124 - $846 -
2024 $1,060 $3,711 $807 $3,522
2023 $1,061 $3,399 $758 $3,368
2022 $1,007 $3,099 $860 $3,144
2021 $843 $2,733 $885 $2,849
2020 $803 $2,285 $845 $2,719
2019 $823 $2,336 $844 $2,704
2018 $773 $2,125 $846 $2,640
2017 $751 $1,968 $779 $2,501
2016 $721 $1,866 $844 $2,635
2015 $726 $1,781 $965 $2,560
2014 $715 $1,678 $1,118 $2,762
2013 $695 $1,512 $1,117 $2,701
2012 $698 $1,455 $938 $2,317
2011 $643 $1,413 $761 $2,043
2010 $587 $1,314 $685 $1,900
2009 $557 $1,241 $653 $1,814
2008 $522 $1,191 $705 $1,824
2007 $421 $1,079 $632 $1,770
2006 $352 $1,002 $580 $1,698
2005 $324 $914 $463 $1,615
2004 $269.5 $832 $418 $1,541
2003 $249 $775 $414 $1,458
2002 $234 $760 $389 $1,360
2001 $237.3 $670 $358 $1,121
2000 $251.9 $609 $143.7 $1,242
1999 $264.7 $554 $155 $1,167
1998 $246.2 $528 $156.5 $1,180
1997 $238.7 $500 $199.9 $1,157
1996 $206 $499 $224.3 $1,225
1995 $228 $514 $208.4 $1,187
1994 $111 $311 $218.5 $1,266
1993 $247 $521 $185 $1,269
1992 $264.1 $575 $163.2 $1,220
1991 $254 $542 $183.7 $1,445
1990 $346 $549 $154.8 $1,382
1989 $335 - $231.3 -
1988 $344 - $268.2 -
1987 $320 - $172.4 -
1986 $297.7 - $131.5 -
1985 $271.6 - $235.5 -
1984 $259.9 - $306 -
1983 $250.6 - $285.8 -
1982 $246.4 - $380 -
1981 $254.6 - $334 -
1980 $234.4 - $336 -
1979 $213.8 - $346 -
1978 $179.9 - $305 -
1977 $152.7 - $224.2 -
1976 $134.4 - $196.4 -
1975 $124.1 - $228.4 -
1974 $68.9 - $222.1 -
1973 $66.9 - $200.6 -
1972 $58.4 - $165.4 -
1971 $54.4 - $151.8 -
1970 $55.2 - $160.2 -
1969 $48.9 - $153.6 -
1968 $46 - $126.3 -
1967 $44 - $136.1 -
1966 $35.4 - $149.3 -
1965 $43.5 - $145.6 -
1964 $39 - $153.4 -
1963 $39.3 - $146.3 -
1962 $39.2 - $146.3 -
1961 $39.3 - $142.3 -
1960 $39.4 - $142 -

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

GeoRank.org/economy/rwanda/sierra-leone | CC BY

Rwanda's GDP per capita is $1,124, ranking 178/197, compared to $846 in Sierra Leone, ranking 186/197. Adjusted for purchasing power (GDP per capita PPP), Rwanda ranks 168th at $3,711, while Sierra Leone ranks 171st at $3,522.

Economic indicators

Rwanda Sierra Leone
Gross domestic product
$16.4B
2025
$7.46B
2025
GDP rank
142/197
2025
160/197
2025
GDP growth
9.38%
2024-2025
4.61%
2024-2025
GDP per capita
$1,124
2025
$846
2025
GDP per capita rank
178/197
2025
186/197
2025
GDP per capita, PPP
$3,711
2024
$3,522
2024
GDP per capita PPP rank
168/197
2024
171/197
2024
Government debt
$10.6B
2025
$3.38B
2025
Debt-to-GDP ratio
64.6%
2025
45.2%
2025
Government debt per person
$726
2025
$383
2025
Government debt per person rank
155/185
2025
173/185
2025
Average annual personal income after taxes
$1,614
2026
$1,418
2026
Market capitalization of domestic companies
$3.2B
2025
n/a
Income share by richest 10%
33.4%
2023
29.4%
2018
Income share by poorest 10%
3.1%
2023
3.4%
2018
Government expenditure, % of GDP
24.1%
2025
16.5%
2025
Consumer prices inflation
5.91%
2024-2025
7.6%
2024-2025
Central bank interest rate
6.75%
2025
16.8%
2025
Unemployment rate
5.36%
2025
1.65%
2018
Population
15062056
9090531

Spending and national debt comparison by year

Rwanda
Spending

Debt
Sierra Leone
Spending

Debt
1x
Year % of GDP
Rwanda Sierra Leone
Government spending Government debt Government spending Government debt
2025 24.1% 64.6% 16.5% 45.2%
2024 27.1% 63.4% 17.6% 46.7%
2023 26.2% 61.4% 15.4% 49.4%
2022 28.7% 59% 16.7% 54%
2021 31% 66.2% 16.8% 47.1%
2020 32.5% 66.7% 15.6% 46.4%
2019 27.7% 52.8% 13.3% 45.3%
2018 26.3% 49.2% 13.7% 44.2%
2017 25.3% 46.1% 15% 44.2%
2016 25.4% 41.5% 14.9% 38.9%
2015 26.9% 33.5% 13.1% 28.4%
2014 27.8% 29.5% 13.5% 26.8%
2013 26.5% 27% 11.4% 22.3%
2012 24.9% 19.3% 13.5% 24.1%
2011 25% 18.9% 13.2% 25.8%
2010 24.1% 19% 12.5% 28.9%
2009 22.6% 18.7% 11.3% 31.1%
2008 22.7% 18.5% 10.3% 46.1%
2007 22.7% 22.4% 8.1% 26.4%
2006 20.9% 22.8% 9.97% 61.9%
2005 20.2% 59.8% 10.9% 78.9%
2004 18.1% 82.1% 11.1% 93.2%
2003 18.8% 80.7% 11.7% 99.8%
2002 20.7% 93.4% 12.6% 99.8%
2001 19.3% 85.2% 12% 113.5%
2000 18.5% 87.2% 10.3% -
1999 22.7% 79.5% - -
1998 16.6% 71.1% - -
1997 17.2% 73.3% - -
1996 19.8% 84.6% - -
1995 18.3% 102.2% - -
1994 13.5% - - -
1993 20.6% - - -
1992 21.8% - - -

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

GeoRank.org/economy/rwanda/sierra-leone | CC BY

In 2025, Rwanda's government spending was $3.95B, accounting for 24.1% of its GDP, while Sierra Leone spent $1.23B, or 16.5% of GDP.

Debt-to-GDP ratio is 64.6% in Rwanda and 45.2% in Sierra Leone, ranking 68/185 and 115/185, respectively.

Government deficit by year

Deficit/surplus
Rwanda

Sierra Leone
1x
Year Deficit/surplus, % of GDP
Rwanda Sierra Leone
2025 -4.49% -4.2%
2024 -6.19% -5.16%
2023 -4.88% -4.99%
2022 -5.56% -5.93%
2021 -6.89% -4.35%
2020 -9.26% -3.5%
2019 -5% -1.95%
2018 -2.57% -3.57%
2017 -2.54% -5.61%
2016 -2.3% -5.41%
2015 -2.71% -2.86%
2014 -3.97% -2.77%
2013 -1.29% -1.74%
2012 -2.41% -3.41%
2011 -0.87% -2.78%
2010 -0.65% -3.09%
2009 0.26% -1.51%
2008 0.84% -2.22%
2007 -1.58% 12.6%
2006 -0.03% -0.93%
2005 1.14% -1.17%
2004 2.31% -1.46%
2003 -1.25% -2.78%
2002 -2.06% -3.03%
2001 -1.83% -3.22%
2000 -0.22% -1.94%
1999 -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/rwanda/sierra-leone | CC BY

In 2025, Rwanda's government deficit, the difference between spending and revenue, was $736M, equivalent to 4.49% of GDP. This compares to Sierra Leone's deficit of $313M, or 4.2% of GDP.

Over the past 26 years, Rwanda recorded a fiscal deficit in 22 of those years, while Sierra Leone ran a deficit in 25 years. On average, Rwanda posted an annual deficit equal to 2.46% of GDP, compared to deficit of 2.58% of GDP for Sierra Leone.

Inflation comparison by year

Inflation
Rwanda

Sierra Leone
1x
Year Consumer prices inflation
Rwanda Sierra Leone
2025 5.91% 7.6%
2024 1.77% 28.4%
2023 19.8% 47.7%
2022 17.7% 27.2%
2021 -0.39% 11.9%
2020 9.85% 13.4%
2019 3.35% 14.8%
2018 -0.31% 16%
2017 8.28% 18.2%
2016 7.17% 10.9%
2015 2.53% 6.7%
2014 2.35% 4.6%
2013 5.92% 5.5%
2012 10.3% 6.6%
2011 3.08% 6.8%
2010 -0.25% 7.2%
2009 12.9% 7.5%
2008 15.4% 8.2%
2007 9.08% 17%
2006 8.88% 10.5%
2005 9.01% 13.7%
2004 12.3% 12.9%
2003 7.45% 4%
2002 1.99% 0.1%
2001 3.34% 2.6%
2000 3.9% -0.9%
1999 -2.41% 34.1%
1998 6.21% 36%
1997 12% 14.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/rwanda/sierra-leone | CC BY

Over the past 29 years, Rwanda has recorded an average annual inflation rate of 6.8%, compared with 13.6% in Sierra Leone. In 2025, inflation was 5.91% in Rwanda and 7.6% in Sierra Leone.

Top exports between countries

Rwanda
Export category Export value
Processed food, beverages & tobacco $4K
Miscellaneous $2K
Sierra Leone
Export category Export value
Machinery & equipment $285K

Balance of trade

Rwanda Sierra Leone
Current account balance
-$1.81B
2024
-$984M
2024
Current account balance ranking
136/190
2024
115/190
2024
Current account balance, % of GDP
-12%
2024
-14.1%
2024
Goods imports
$5.55B
2024
$2.4B
2024
Goods exports
$3.2B
2024
$1.55B
2024
Service imports
$991M
2024
$514M
2024
Service exports
$1.08B
2024
$49.6M
2024
Imports of goods and services, % of GDP
35.1%
2025
28.2%
2025
Exports of goods and services, % of GDP
21.6%
2025
20.9%
2025

Economic freedom indices

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

Rwanda Sierra Leone
Economic freedom 56.5 49.6
Economic freedom ranking 121/197 165/197
Property rights 60.3 32.9
Government integrity 53.9 35.8
Judicial effectiveness 27.5 42
Tax burden 80.6 88.2
Government spending 75.7 92.4
Fiscal health 37.5 54.1
Business freedom 60.1 44.8
Labor freedom 49.1 38.2
Monetary freedom 72.3 53.6
Trade freedom 61.8 63.6
Investment freedom 60 30
Financial freedom 40 20

Economic freedom comparison by year

Rwanda
Sierra Leone
1x
Year Economic freedom index
Rwanda Sierra Leone
2026 56.5 49.6
2025 54.8 48
2024 51.6 44.6
2023 52.2 50.2
2022 57.1 52
2021 68.3 51.7
2020 70.9 48
2019 71.1 47.5
2018 69.1 51.8
2017 67.6 52.6
2016 63.1 52.3
2015 64.8 51.7
2014 64.7 50.5
2013 64.1 48.3
2012 64.9 49.1
2011 62.7 49.6
2010 59.1 47.9
2009 54.2 47.8
2008 54.2 48.3
2007 52.4 47
2006 52.8 45.2
2005 51.7 44.8
2004 53.3 43.6
2003 47.8 42.2
2002 50.4 -
2001 45.4 -
2000 42.3 44.2
1999 39.8 47.2
1998 39.1 47.7
1997 38.3 45
1996 - 52.3
1995 - 49.8

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

GeoRank.org/economy/rwanda/sierra-leone | CC BY

The Economic Freedom Index for Rwanda is 56.5, ranking 121/197, compared to 49.6 for Sierra Leone, ranking 165/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Rwanda Sierra Leone
Services, % of GDP
52.3%
2025
41.6%
2025
Industry, % of GDP
22%
2025
25.7%
2025
Agriculture, forestry, and fishing, % of GDP
20.3%
2025
29.5%
2025
GNI, Atlas method
$16.7B
2025
$7.34B
2025
GNI per capita, PPP
$4,070
2025
$3,690
2025
Total reserves including gold
$1.96B
2025
$433M
2024
Total reserves ranking
128/177
2025
161/177
2024
Net foreign direct investment
-$560M
2024
-$122M
2024
Net inflows of foreign direct investment
$573M
2024
$122M
2024
Net outflows of foreign direct investment
$13.2M
2024
$0
2024
Servicing debt to the IMF, % of GNI
2.91%
2024
2.22%
2024
Poverty at national poverty lines
27.4%
2023
56.8%
2018
Gross capital formation, % of GDP
34.1%
2025
23.2%
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/rwanda/sierra-leone | 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 (1992–2025, 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 (2018–2023, 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.