Skip to content

Economy of Rwanda vs Uganda compared: GDP & Debt

Updated on by Georank team

Rwanda has a GDP of $14.3B compared to $53.9B for Uganda, ranking 144/197 and 89/197 by economy size, respectively.

Rwanda has $9.58B in government debt (67.2% of GDP), compared to $27.8B (51.5% of GDP) in Uganda.

Rwanda vs Uganda GDP by year

Rwanda
Uganda
1x
Year GDP, current $
Rwanda Uganda
2024 $14,251,642,235 $53,911,907,086
2023 $14,331,722,703 $48,768,955,863
2022 $13,316,161,002 $45,565,333,211
2021 $11,078,787,090 $40,529,788,749
2020 $10,174,386,857 $37,600,368,242
2019 $10,349,300,277 $35,353,061,003
2018 $9,637,904,521 $32,927,025,620
2017 $9,252,833,891 $30,744,473,841
2016 $8,695,272,058 $29,203,988,696
2015 $8,543,760,200 $32,387,183,730
2014 $8,238,966,124 $32,612,397,257
2013 $7,819,964,030 $28,915,786,517
2012 $7,654,761,050 $27,305,915,911
2011 $6,884,913,658 $27,871,725,241
2010 $6,124,756,654 $26,673,441,431
2009 $5,674,476,969 $25,127,805,567
2008 $5,179,854,065 $14,440,404,132
2007 $4,070,507,895 $11,902,564,495
2006 $3,319,784,539 $9,977,647,683
2005 $2,933,819,766 $9,239,221,763
2004 $2,376,496,067 $7,939,487,548
2003 $2,138,237,279 $6,606,884,275
2002 $1,966,003,468 $6,178,563,591
2001 $1,966,600,715 $5,840,503,869
2000 $2,068,836,754 $6,193,246,837
1999 $2,157,108,263 $5,998,563,258
1998 $1,989,343,546 $6,584,815,847
1997 $1,851,558,197 $6,269,333,313
1996 $1,382,334,879 $6,044,585,327
1995 $1,293,535,193 $5,755,818,842
1994 $753,636,370 $3,990,430,447
1993 $1,971,525,712 $3,220,439,044
1992 $2,029,026,962 $2,857,457,762
1991 $1,911,600,237 $3,321,729,160
1990 $2,550,185,679 $4,304,399,310
1989 $2,405,022,593 $5,276,480,799
1988 $2,395,492,687 $6,508,931,652
1987 $2,157,432,668 $6,269,522,042
1986 $1,944,710,684 $3,923,244,050
1985 $1,715,626,331 $3,519,695,444
1984 $1,587,413,084 $3,615,647,477
1983 $1,479,687,587 $2,240,333,333
1982 $1,407,243,139 $2,177,500,000
1981 $1,407,062,527 $1,337,300,000
1980 $1,254,765,642 $1,244,610,000
1979 $1,109,346,131 $2,139,025,000
1978 $905,709,076 $2,420,260,870
1977 $746,650,613 $2,936,470,588
1976 $637,753,853 $2,447,300,000
1975 $571,863,500 $2,359,555,556
1974 $308,458,423 $2,098,944,967
1973 $290,746,157 $1,701,829,789
1972 $246,457,838 $1,490,970,181
1971 $222,952,504 $1,417,191,656
1970 $219,900,006 $1,259,554,809
1969 $188,700,037 $1,168,556,629
1968 $172,200,018 $1,037,379,252
1967 $159,560,018 $967,240,655
1966 $124,525,703 $925,381,492
1965 $148,799,980 $884,502,310
1964 $129,999,994 $589,247,687
1963 $128,000,000 $516,315,231
1962 $125,000,008 $449,158,233
1961 $122,000,016 $441,667,335
1960 $119,000,024 $423,145,605

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

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

GDP per capita in Rwanda vs Uganda by year

Rwanda
GDP per capita

GDP per capita, PPP
Uganda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Rwanda Uganda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,000 $3,711 $1,078 $3,273
2023 $1,027 $3,399 $1,002 $3,098
2022 $975 $3,099 $963 $2,919
2021 $830 $2,733 $883 $2,685
2020 $779 $2,285 $846 $2,532
2019 $810 $2,336 $822 $2,441
2018 $772 $2,125 $792 $2,312
2017 $758 $1,968 $765 $2,158
2016 $730 $1,866 $753 $2,165
2015 $734 $1,781 $863 $2,190
2014 $725 $1,678 $896 $2,134
2013 $705 $1,512 $818 $2,045
2012 $707 $1,455 $795 $2,032
2011 $651 $1,413 $836 $2,268
2010 $594 $1,314 $823 $2,092
2009 $564 $1,241 $799 $2,015
2008 $528 $1,191 $473 $1,931
2007 $426 $1,079 $401 $1,795
2006 $357 $1,002 $347 $1,660
2005 $324 $914 $330 $1,497
2004 $269.5 $832 $292.4 $1,405
2003 $249 $775 $250.7 $1,320
2002 $234 $760 $242 $1,255
2001 $237.3 $670 $236 $1,173
2000 $251.9 $609 $258.1 $1,124
1999 $264.7 $554 $257.9 $1,100
1998 $246.2 $528 $292.5 $1,037
1997 $238.7 $500 $286.8 $1,007
1996 $206 $499 $284.7 $969
1995 $228 $514 $278.5 $897
1994 $111 $311 $198.4 $809
1993 $247 $521 $165.6 $770
1992 $264.1 $575 $152.1 $719
1991 $254 $542 $183 $703
1990 $346 $549 $245 $666
1989 $335 - $310 -
1988 $344 - $395 -
1987 $320 - $393 -
1986 $297.7 - $253.6 -
1985 $271.6 - $234.3 -
1984 $259.9 - $247.5 -
1983 $250.6 - $157.5 -
1982 $246.4 - $157 -
1981 $254.6 - $98.6 -
1980 $234.4 - $93.8 -
1979 $213.8 - $164.5 -
1978 $179.9 - $190.7 -
1977 $152.7 - $237.6 -
1976 $134.4 - $203.3 -
1975 $124.1 - $201.2 -
1974 $68.9 - $183.7 -
1973 $66.9 - $152.7 -
1972 $58.4 - $137 -
1971 $54.4 - $133.5 -
1970 $55.2 - $122 -
1969 $48.9 - $116.7 -
1968 $46 - $106.9 -
1967 $44 - $102.8 -
1966 $35.4 - $101.4 -
1965 $43.5 - $100 -
1964 $39 - $68.6 -
1963 $39.3 - $62 -
1962 $39.2 - $55.5 -
1961 $39.3 - $56.2 -
1960 $39.4 - $55.4 -

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

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

Rwanda's GDP per capita is $1,000, ranking 178/197, compared to $1,078 in Uganda, ranking 176/197. Adjusted for purchasing power (GDP per capita PPP), Rwanda ranks 168th at $3,711, while Uganda ranks 176th at $3,273.

Economic indicators

Rwanda Uganda
Gross domestic product
$14.3B
2024
$53.9B
2024
GDP rank
144/197
2024
89/197
2024
GDP growth
8.89%
2023-2024
6.06%
2023-2024
GDP per capita
$1,000
2024
$1,078
2024
GDP per capita rank
178/197
2024
176/197
2024
GDP per capita, PPP
$3,711
2024
$3,273
2024
GDP per capita PPP rank
168/197
2024
176/197
2024
Government debt
$9.58B
2024
$27.8B
2024
Debt-to-GDP ratio
67.2%
2024
51.5%
2024
Government debt per person
$672
2024
$555
2024
Government debt per person rank
157/185
2024
163/185
2024
Average annual personal income after taxes
$2,194
2026
$1,466
2026
Market capitalization of domestic companies
$2.75B
2024
n/a
Income share by richest 10%
33.4%
2023
34.5%
2019
Income share by poorest 10%
3.1%
2023
2.4%
2019
Government expenditure, % of GDP
28.8%
2024
18.7%
2024
Consumer prices inflation
1.77%
2023-2024
3.3%
2023-2024
Central bank interest rate
6.75%
2025
9.75%
2024
Unemployment rate
11.3%
2024
3.42%
2021
Population
14975051
53170946

Spending and national debt comparison by year

Rwanda
Spending

Debt
Uganda
Spending

Debt
1x
Year % of GDP
Rwanda Uganda
Government spending Government debt Government spending Government debt
2024 28.8% 67.2% 18.7% 51.5%
2023 27% 63.4% 19.3% 50.5%
2022 29.7% 60.9% 19.5% 50.2%
2021 31.6% 67.3% 22% 50.3%
2020 33.5% 68.7% 21.4% 46.3%
2019 28.2% 53.6% 18.3% 37.5%
2018 26.4% 49.2% 16.2% 34.9%
2017 25.1% 45.6% 16.3% 33.6%
2016 25.1% 41.1% 15.2% 31.3%
2015 26.6% 33.1% 14.9% 28%
2014 27.5% 29.1% 13.6% 24.8%
2013 26.2% 26.7% 13.3% 22.1%
2012 24.6% 19.1% 13.1% 19.5%
2011 24.7% 18.7% 13.2% 18%
2010 23.8% 18.8% 15.4% 18.4%
2009 22.3% 18.5% 11.8% 14.8%
2008 22.5% 18.3% 12.9% 15.7%
2007 22.4% 22.1% 13.2% 17%
2006 20.6% 22.5% 13.7% 27.8%
2005 19.9% 58.9% 14.5% 42.6%
2004 17.9% 80.9% 15.6% 49%
2003 18.5% 79.5% 16.5% 55.1%
2002 20.5% 92% 16.8% 54.7%
2001 19.1% 84% 16.2% 51.4%
2000 18.2% 86% 15.2% 48.5%
1999 22.4% 78.4% 14.7% 47.7%
1998 16.4% 70.1% 14% 45.1%
1997 17% 72.2% 13.9% 44.2%
1996 19.5% 83.4% - -
1995 18% 100.8% - -
1994 13.3% - - -
1993 20.3% - - -
1992 21.5% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20).

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

In 2024, Rwanda's government spending was $4.1B, accounting for 28.8% of its GDP, while Uganda spent $10.1B, or 18.7% of GDP.

Debt-to-GDP ratio is 67.2% in Rwanda and 51.5% in Uganda, ranking 65/185 and 103/185, respectively.

Government deficit by year

Deficit/surplus
Rwanda

Uganda
1x
Year Deficit/surplus, % of GDP
Rwanda Uganda
2024 -6.57% -3.99%
2023 -5.04% -4.87%
2022 -5.74% -5.45%
2021 -7% -7.76%
2020 -9.54% -7.76%
2019 -5.08% -4.82%
2018 -2.57% -3.02%
2017 -2.52% -3.83%
2016 -2.27% -2.64%
2015 -2.68% -2.59%
2014 -3.92% -2.74%
2013 -1.27% -3.19%
2012 -2.38% -2.39%
2011 -0.86% -2.04%
2010 -0.64% -4.64%
2009 0.26% -1.61%
2008 0.83% -1.99%
2007 -1.56% -0.82%
2006 -0.03% -0.64%
2005 1.12% -0.17%
2004 2.27% 0.34%
2003 -1.23% -0.97%
2002 -2.03% -2.07%
2001 -1.8% -0.99%
2000 -0.22% -0.62%
1999 -4.41% -1.24%
1998 -2.59% -0.7%
1997 -2.22% -0.83%
1996 -5.01% -
1995 -2.04% -
1994 -9.54% -
1993 -6.6% -
1992 -7.21% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20).

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

In 2024, Rwanda's government deficit, the difference between spending and revenue, was $936M, equivalent to 6.57% of GDP. This compares to Uganda's deficit of $2.15B, or 3.99% of GDP.

Over the past 28 years, Rwanda recorded a fiscal deficit in 24 of those years, while Uganda ran a deficit in 27 years. On average, Rwanda posted an annual deficit equal to 2.49% of GDP, compared to deficit of 2.64% of GDP for Uganda.

Inflation comparison by year

Inflation
Rwanda

Uganda
1x
Year Consumer prices inflation
Rwanda Uganda
2024 1.77% 3.3%
2023 19.8% 5.4%
2022 17.7% 7.2%
2021 -0.39% 2.2%
2020 9.85% 2.8%
2019 3.35% 2.1%
2018 -0.31% 2.5%
2017 8.28% 5.6%
2016 7.17% 5.2%
2015 2.53% 3.7%
2014 2.35% 4.3%
2013 5.92% 5.5%
2012 10.3% 14%
2011 3.08% 18.7%
2010 -0.25% 4%
2009 12.9% 13%
2008 15.4% 12%
2007 9.08% 6.1%
2006 8.88% 7.2%
2005 9.01% 8.6%
2004 12.3% 3.7%
2003 7.45% 8.7%
2002 1.99% -0.3%
2001 3.34% 1.9%
2000 3.9% 3.4%
1999 -2.41% 5.8%
1998 6.21% 5.8%
1997 12% 7.7%

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/rwanda/uganda | CC BY

Over the past 28 years, Rwanda has recorded an average annual inflation rate of 6.83%, compared with 6.08% in Uganda. In 2024, inflation was 1.77% in Rwanda and 3.3% in Uganda.

Top exports between countries

Rwanda
Export category Export value
Processed food, beverages & tobacco $22.9M
Textiles & consumer goods $497K
Raw agricultural goods $277K
Machinery & equipment $266K
Animal & marine products $81K
Raw materials & minerals $79K
Wood & paper products $62K
Miscellaneous $31K
Chemicals & pharma $7K
Metals $3K
Uganda
Export category Export value
Raw agricultural goods $83.2M
Processed food, beverages & tobacco $71.6M
Textiles & consumer goods $25.4M
Chemicals & pharma $19.4M
Raw materials & minerals $18.7M
Wood & paper products $18.7M
Metals $12.8M
Machinery & equipment $10M
Animal & marine products $8.79M
Weapons & explosives $568K

Balance of trade

Rwanda Uganda
Current account balance
-$1.81B
2024
-$4.29B
2024
Current account balance ranking
140/190
2024
164/190
2024
Current account balance, % of GDP
-12.7%
2024
-7.96%
2024
Goods imports
$5.55B
2024
$11.7B
2024
Goods exports
$3.2B
2024
$8.67B
2024
Service imports
$991M
2024
$4.38B
2024
Service exports
$1.08B
2024
$2.39B
2024
Imports of goods and services, % of GDP
39.1%
2024
25.9%
2024
Exports of goods and services, % of GDP
30.8%
2024
16.8%
2024

Economic freedom indices

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

Rwanda Uganda
Economic freedom 56.5 52.4
Economic freedom ranking 121/197 149/197
Property rights 60.3 42.2
Government integrity 53.9 25.1
Judicial effectiveness 27.5 29.4
Tax burden 80.6 73.4
Government spending 75.7 89
Fiscal health 37.5 58.3
Business freedom 60.1 50.2
Labor freedom 49.1 55.9
Monetary freedom 72.3 77.1
Trade freedom 61.8 58
Investment freedom 60 30
Financial freedom 40 40

Economic freedom comparison by year

Rwanda
Uganda
1x
Year Economic freedom index
Rwanda Uganda
2026 56.5 52.4
2025 54.8 51.3
2024 51.6 50.7
2023 52.2 51.4
2022 57.1 54.2
2021 68.3 58.6
2020 70.9 59.5
2019 71.1 59.7
2018 69.1 62
2017 67.6 60.9
2016 63.1 59.3
2015 64.8 59.7
2014 64.7 59.9
2013 64.1 61.1
2012 64.9 61.9
2011 62.7 61.7
2010 59.1 62.2
2009 54.2 63.5
2008 54.2 63.8
2007 52.4 63.1
2006 52.8 63.9
2005 51.7 62.9
2004 53.3 64.1
2003 47.8 60.1
2002 50.4 61
2001 45.4 60.4
2000 42.3 58.2
1999 39.8 64.8
1998 39.1 64.7
1997 38.3 66.6
1996 - 66.2
1995 - 62.9

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

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

The Economic Freedom Index for Rwanda is 56.5, ranking 121/197, compared to 52.4 for Uganda, ranking 149/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Rwanda Uganda
Services, % of GDP
47.6%
2024
43.1%
2024
Industry, % of GDP
21%
2024
24.9%
2024
Agriculture, forestry, and fishing, % of GDP
24.6%
2024
24.6%
2024
GNI, Atlas method
$14.8B
2024
$50.9B
2024
GNI per capita, PPP
$3,620
2024
$3,190
2024
Total reserves including gold
$2.41B
2024
$3.36B
2018
Total reserves ranking
123/177
2024
114/177
2018
Net foreign direct investment
-$560M
2024
-$3.26B
2024
Net inflows of foreign direct investment
$573M
2024
$3.26B
2024
Net outflows of foreign direct investment
$13.2M
2024
$400K
2024
Servicing debt to the IMF, % of GNI
3.09%
2024
2.96%
2024
Poverty at national poverty lines
27.4%
2023
20.3%
2019
Gross capital formation, % of GDP
25.9%
2024
22.4%
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/rwanda/uganda | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, 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. TradeMap (2022–2024, 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.