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Economy of Rwanda vs Tajikistan compared: GDP & Debt

Updated on by Georank team

Rwanda has a GDP of $14.3B compared to $14.2B for Tajikistan, ranking 144/197 and 145/197 by economy size, respectively.

Rwanda has $9.58B in government debt (77.6% of GDP), compared to $4.2B (28.4% of GDP) in Tajikistan.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Rwanda
GDP, current $

GDP, constant 2015 $
Tajikistan
GDP, current $

GDP, constant 2015 $
Year GDP
Rwanda Tajikistan
Current $ Constant $ Current $ Constant $
1960 $119,000,024 $1,013,800,020 - -
1961 $122,000,016 $970,231,700 - -
1962 $125,000,008 $1,080,195,804 - -
1963 $128,000,000 $974,115,776 - -
1964 $129,999,994 $852,692,316 - -
1965 $148,799,980 $912,462,033 - -
1966 $124,525,703 $976,415,683 - -
1967 $159,560,018 $1,043,944,763 - -
1968 $172,200,018 $1,117,164,761 - -
1969 $188,700,037 $1,240,135,222 - -
1970 $219,900,006 $1,314,561,010 - -
1971 $222,952,504 $1,330,423,038 - -
1972 $246,457,838 $1,333,922,959 - -
1973 $290,746,157 $1,379,784,406 - -
1974 $308,458,423 $1,399,236,932 - -
1975 $571,863,500 $1,369,659,506 - -
1976 $637,753,853 $1,636,805,801 - -
1977 $746,650,613 $1,669,445,501 - -
1978 $905,709,076 $1,822,213,801 - -
1979 $1,109,346,131 $2,038,508,904 - -
1980 $1,254,765,642 $2,220,988,318 - -
1981 $1,407,062,527 $2,341,725,674 - -
1982 $1,407,243,139 $2,384,130,730 - -
1983 $1,479,687,587 $2,526,710,090 - -
1984 $1,587,413,084 $2,419,558,044 - -
1985 $1,715,626,331 $2,526,085,095 - $6,548,213,772
1986 $1,944,710,684 $2,664,315,945 - $6,777,401,246
1987 $2,157,432,668 $2,663,675,547 - $6,696,072,428
1988 $2,395,492,687 $2,783,509,648 - $7,626,826,568
1989 $2,405,022,593 $2,782,492,713 - $7,131,082,791
1990 $2,550,185,679 $2,715,732,613 $2,629,395,066 $7,088,296,320
1991 $1,911,600,237 $2,647,448,785 $2,536,585,366 $6,585,027,346
1992 $2,029,026,962 $2,802,926,178 $1,908,554,572 $4,675,369,346
1993 $1,971,525,712 $2,575,645,531 $1,646,623,195 $3,908,608,781
1994 $753,636,370 $1,281,433,436 $1,522,001,206 $3,076,075,188
1995 $1,293,535,193 $1,732,806,553 $1,231,561,860 $2,694,139,780
1996 $1,382,334,879 $1,953,664,804 $1,043,654,822 $2,244,218,479
1997 $1,851,558,197 $2,224,242,544 $921,518,033 $2,281,936,479
1998 $1,989,343,546 $2,421,280,840 $1,320,199,582 $2,403,172,744
1999 $2,157,108,263 $2,526,652,278 $1,086,612,290 $2,492,079,339
2000 $2,068,836,754 $2,738,155,711 $860,541,842 $2,699,528,109
2001 $1,966,600,715 $2,970,476,184 $1,080,772,551 $2,958,165,475
2002 $1,966,003,468 $3,362,343,590 $1,221,106,220 $3,277,647,458
2003 $2,138,237,279 $3,436,395,425 $1,555,318,261 $3,638,188,648
2004 $2,376,496,067 $3,692,326,726 $2,076,176,869 $4,012,922,040
2005 $2,933,819,766 $4,038,589,403 $2,312,352,021 $4,281,787,757
2006 $3,319,784,539 $4,411,233,107 $2,830,213,849 $4,581,513,037
2007 $4,070,507,895 $4,747,955,684 $3,719,524,541 $4,938,871,060
2008 $5,179,854,065 $5,277,886,761 $5,161,299,725 $5,329,041,788
2009 $5,674,476,969 $5,607,662,717 $4,979,472,364 $5,536,874,479
2010 $6,124,756,654 $6,018,965,512 $5,642,221,099 $5,896,771,270
2011 $6,884,913,658 $6,497,978,183 $6,522,756,255 $6,333,132,379
2012 $7,654,761,045 $7,059,501,498 $7,633,036,903 $6,808,117,273
2013 $7,819,964,024 $7,392,699,278 $8,448,411,318 $7,311,917,934
2014 $8,238,966,120 $7,848,619,326 $9,112,605,459 $7,801,816,486
2015 $8,543,760,206 $8,543,760,206 $8,271,431,485 $8,271,431,485
2016 $8,695,272,061 $9,053,886,363 $6,992,416,097 $8,842,160,258
2017 $9,252,833,894 $9,408,633,107 $7,536,402,853 $9,469,953,673
2018 $9,637,904,519 $10,209,916,262 $7,764,999,999 $10,189,670,047
2019 $10,349,300,277 $11,174,486,378 $8,300,813,599 $10,943,705,647
2020 $10,174,386,855 $10,797,494,132 $8,133,963,551 $11,425,228,817
2021 $11,078,787,095 $11,969,932,692 $8,937,805,347 $12,499,200,275
2022 $13,316,161,006 $12,946,823,702 $10,713,525,200 $13,499,136,339
2023 $14,331,722,700 $14,014,924,102 $12,244,169,293 $14,619,564,550
2024 $14,251,642,231 $15,260,942,693 $14,204,575,549 $15,847,607,944

Economic indicators

Rwanda Tajikistan
Gross domestic product
$14.3B
2024
$14.2B
2024
GDP rank
144/197
2024
145/197
2024
GDP growth
-0.56%
2023-2024
16%
2023-2024
GDP per capita
$1,000
2024
$1,341
2024
GDP per capita rank
177/197
2024
167/197
2024
GDP per capita, PPP
$3,711
2024
$5,406
2024
Government debt
$9.58B
2024
$4.2B
2024
Debt-to-GDP ratio
77.6%
2025
28.4%
2025
Government debt per person
$672
2024
$396
2024
Government debt per person rank
156/185
2024
171/185
2024
Average annual personal income after taxes
$2,587
2025
$2,250
2025
Market capitalization of domestic companies
$2.75B
2024
n/a
Income share by richest 10%
33.4%
2023
28.2%
2024
Income share by poorest 10%
3.1%
2023
2.9%
2024
Government expenditure, % of GDP
27.4%
2025
30.3%
2025
Consumer prices inflation
1.77%
2023-2024
3.8%
2024-2025
Central bank interest rate
6.75%
2025
7.75%
2025
Unemployment rate
11.3%
2024
0.08%
2016
Population
14826674
10940854

GDP per capita in Rwanda vs Tajikistan

Rwanda's GDP per capita is $1,000, ranking 177/197, compared to $1,341 in Tajikistan, ranking 167/197. Adjusted for purchasing power (GDP per capita PPP), Rwanda ranks 168th at $3,711, while Tajikistan ranks 156th at $5,406.

Rwanda
GDP per capita

GDP per capita, PPP
Tajikistan
GDP per capita

GDP per capita, PPP
Year Current $
Rwanda Tajikistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $39.4 - - -
1961 $39.3 - - -
1962 $39.2 - - -
1963 $39.3 - - -
1964 $39 - - -
1965 $43.5 - - -
1966 $35.4 - - -
1967 $44 - - -
1968 $46 - - -
1969 $48.9 - - -
1970 $55.2 - - -
1971 $54.4 - - -
1972 $58.4 - - -
1973 $66.9 - - -
1974 $68.9 - - -
1975 $124.1 - - -
1976 $134.4 - - -
1977 $152.7 - - -
1978 $179.9 - - -
1979 $213.8 - - -
1980 $234.4 - - -
1981 $254.6 - - -
1982 $246.4 - - -
1983 $250.6 - - -
1984 $259.9 - - -
1985 $271.6 - - -
1986 $297.7 - - -
1987 $320 - - -
1988 $344 - - -
1989 $335 - - -
1990 $346 $549 $487 $2,583
1991 $254 $542 $458 $2,417
1992 $264.1 $575 $338 $1,721
1993 $247 $521 $287.6 $1,454
1994 $111 $311 $261.3 $1,148
1995 $228 $514 $207 $1,006
1996 $206 $499 $172 $836
1997 $238.7 $500 $150.1 $855
1998 $246.2 $528 $213.7 $905
1999 $264.7 $554 $175 $947
2000 $251.9 $609 $136.9 $1,036
2001 $237.3 $670 $168.7 $1,139
2002 $234 $760 $187 $1,257
2003 $249 $775 $233.6 $1,396
2004 $269.5 $832 $306 $1,550
2005 $324 $914 $334 $1,673
2006 $357 $1,002 $401 $1,810
2007 $426 $1,079 $517 $1,966
2008 $528 $1,191 $703 $2,120
2009 $564 $1,241 $665 $2,171
2010 $594 $1,314 $737 $2,291
2011 $651 $1,413 $834 $2,456
2012 $707 $1,455 $952 $2,679
2013 $705 $1,512 $1,028 $2,919
2014 $725 $1,678 $1,082 $3,152
2015 $734 $1,781 $957 $2,975
2016 $730 $1,866 $789 $2,914
2017 $758 $1,968 $829 $3,017
2018 $772 $2,125 $834 $3,069
2019 $810 $2,336 $871 $3,460
2020 $779 $2,285 $834 $3,654
2021 $830 $2,733 $897 $3,986
2022 $975 $3,099 $1,052 $4,514
2023 $1,027 $3,399 $1,178 $4,964
2024 $1,000 $3,711 $1,341 $5,406

Spending and national debt comparison

In 2024, Rwanda's government spending was $4.1B, accounting for 27.4% of its GDP, while Tajikistan's spent $4.27B, or 30.3% of GDP.

Debt-to-GDP ratio is 77.6% in Rwanda and 28.4% in Tajikistan, ranking 46/185 and 161/185, respectively.

Rwanda
Government spending

Government debt
Tajikistan
Government spending

Government debt
Year % of GDP
Rwanda Tajikistan
Government spending Government debt Government spending Government debt
1992 21.5% - - -
1993 20.3% - - -
1994 13.3% - - -
1995 18% 100.8% - -
1996 19.5% 83.4% - -
1997 17% 72.2% - -
1998 16.4% 70.1% 17.1% 96.6%
1999 22.4% 78.4% 17.5% 107.8%
2000 18.2% 86% 18.1% 111.4%
2001 19.1% 84% 17.3% 99.4%
2002 20.5% 92% 19.1% 98.3%
2003 18.5% 79.5% 19.1% 69.8%
2004 17.9% 80.9% 20.2% 49.4%
2005 19.9% 58.9% 22.9% 45.8%
2006 20.6% 22.5% 21.6% 36.8%
2007 22.4% 22.1% 20.3% 34.3%
2008 22.5% 18.3% 20.2% 30.2%
2009 22.3% 18.5% 23.6% 36.9%
2010 23.8% 18.8% 25.9% 36.8%
2011 24.7% 18.7% 24.3% 35.5%
2012 24.6% 19.1% 24.7% 32.5%
2013 26.2% 26.7% 27.7% 29.3%
2014 27.5% 29.1% 27.5% 27.9%
2015 26.6% 33.1% 31.9% 35%
2016 25.1% 41.1% 32.7% 42.2%
2017 25.1% 45.6% 33.8% 46.3%
2018 26.4% 49.2% 30.9% 46.6%
2019 28.2% 53.6% 28.8% 43.5%
2020 33.5% 68.7% 29.2% 51.8%
2021 31.6% 67.3% 27.6% 42.1%
2022 29.7% 60.9% 28% 32.5%
2023 27% 63.4% 31% 30.9%
2024 28.8% 67.2% 30% 29.5%
2025 27.4% 77.6% 30.3% 28.4%

Government deficit by year

In 2024, Rwanda's government deficit, the difference between spending and revenue, was -$936M, equivalent to -6.57% of GDP. This compares to Tajikistan's deficit of -$355M, or -2.5% of GDP.

Over the past 27 years, Rwanda recorded a fiscal deficit in 23 of those years, while Tajikistan ran a deficit in 21 years. On average, Rwanda posted an annual deficit equal to -2.5% of GDP, compared to deficit of -1.66% of GDP for Tajikistan.

Deficit/surplus
Rwanda

Tajikistan
Year Deficit/surplus, % of GDP
Rwanda Tajikistan
1992 -7.21% -
1993 -6.6% -
1994 -9.54% -
1995 -2.04% -
1996 -5.01% -
1997 -2.22% -
1998 -2.59% -5.09%
1999 -4.41% -4.03%
2000 -0.22% -4.51%
2001 -1.8% -2.11%
2002 -2.03% -2.4%
2003 -1.23% -1.74%
2004 2.27% -2.32%
2005 1.12% -2.83%
2006 -0.03% 2%
2007 -1.56% 2.13%
2008 0.83% 1.94%
2009 0.26% -0.2%
2010 -0.64% -2.71%
2011 -0.86% 0.6%
2012 -2.38% 0.41%
2013 -1.27% -0.73%
2014 -3.92% 0.92%
2015 -2.68% -1.96%
2016 -2.27% -2.91%
2017 -2.52% -5.65%
2018 -2.57% -2.69%
2019 -5.08% -2.04%
2020 -9.54% -4.34%
2021 -7% -0.67%
2022 -5.74% -0.23%
2023 -5.04% -1.27%
2024 -6.57% -2.5%
2025 -6.29% -2.5%

Inflation comparison by year

Over the past 29 years, Rwanda has recorded an average annual inflation rate of 6.85%, compared with 29% in Tajikistan. In 2024, inflation was 1.77% in Rwanda and 3.8% in Tajikistan.

Inflation
Rwanda

Tajikistan
Year Inflation
Rwanda Tajikistan Rwanda Tajikistan
1996 7.41% 419%
1997 12% 88%
1998 6.21% 43.2%
1999 -2.41% 27.5%
2000 3.9% 32.9%
2001 3.34% 38.6%
2002 1.99% 12.2%
2003 7.45% 16.4%
2004 12.3% 7.2%
2005 9.01% 7.3%
2006 8.88% 10%
2007 9.08% 13.2%
2008 15.4% 20.4%
2009 12.9% 6.4%
2010 -0.25% 6.5%
2011 3.08% 12.4%
2012 10.3% 5.8%
2013 5.92% 5%
2014 2.35% 6.1%
2015 2.53% 5.8%
2016 7.17% 5.9%
2017 8.28% 7.3%
2018 -0.31% 3.8%
2019 3.35% 7.8%
2020 9.85% 8.6%
2021 -0.39% 9%
2022 17.7% 6.6%
2023 19.8% 3.7%
2024 1.77% 3.5%
2025 - 3.8%

Top exports between countries

Rwanda
Export category Export value
Raw agricultural goods $217K
Tajikistan
Export category Export value

Balance of trade

Rwanda Tajikistan
Current account balance
-$1.65B
2023
$887M
2024
Current account balance ranking
136/189
2023
53/189
2024
Current account balance, % of GDP
-11.5%
2023
+6.24%
2024
Goods imports
$4.83B
2023
$5.94B
2024
Goods exports
$2.47B
2023
$1.42B
2024
Service imports
$948M
2023
$971M
2024
Service exports
$1.04B
2023
$195M
2024
Imports of goods and services, % of GDP
39.1%
2024
48.4%
2023
Exports of goods and services, % of GDP
30.8%
2024
17.2%
2023

Economic freedom indices

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

Rwanda Tajikistan
Economic freedom 54.8 51.5
Economic freedom ranking 133/197 152/197
Property rights 62 28.8
Government integrity 50.5 15.7
Judicial effectiveness 27.1 11.2
Tax burden 81.3 92.3
Government spending 73.8 75
Fiscal health 35 97.3
Business freedom 56.8 56.2
Labor freedom 48.7 43.6
Monetary freedom 67.3 71
Trade freedom 55.2 72.2
Investment freedom 60 25
Financial freedom 40 30

Economic freedom by year comparison

The Economic Freedom Index for Rwanda is 54.8, ranking 133/197, compared to 51.5 for Tajikistan, ranking 152/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Rwanda
Tajikistan
Year Economic freedom index
Rwanda Tajikistan
1997 38.3 -
1998 39.1 41.1
1999 39.8 41.2
2000 42.3 44.8
2001 45.4 46.8
2002 50.4 47.3
2003 47.8 46.5
2004 53.3 48.7
2005 51.7 50.4
2006 52.8 52.6
2007 52.4 53.6
2008 54.2 54.4
2009 54.2 54.6
2010 59.1 53
2011 62.7 53.5
2012 64.9 53.4
2013 64.1 53.4
2014 64.7 52
2015 64.8 52.7
2016 63.1 51.3
2017 67.6 58.2
2018 69.1 58.3
2019 71.1 55.6
2020 70.9 52.2
2021 68.3 55.2
2022 57.1 49.7
2023 52.2 50.6
2024 51.6 51.3
2025 54.8 51.5

More economic indicators

Rwanda Tajikistan
Services, % of GDP
47.6%
2024
34.7%
2023
Industry, % of GDP
21%
2024
33.6%
2023
Agriculture, forestry, and fishing, % of GDP
24.6%
2024
22.9%
2023
GNI, Atlas method
$14.8B
2024
$17.5B
2024
GNI per capita, PPP
$3,620
2024
$7,100
2024
Total reserves including gold
$2.41B
2024
$3.3B
2023
Total reserves ranking
123/177
2024
117/177
2023
Net foreign direct investment
-$459M
2023
-$190M
2024
Net inflows of foreign direct investment
$819M
2024
$291M
2024
Net outflows of foreign direct investment
$9.86M
2024
$101M
2024
Servicing debt to the IMF, % of GNI
3.88%
2023
3.78%
2023
Poverty at national poverty lines
27.4%
2023
19.8%
2024
Gross capital formation, % of GDP
25.9%
2024
31.7%
2023

GDP per capita map

GDP per capita

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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.