Economy of Rwanda

Rwanda's economy suffered heavily during the 1994 genocide, with widespread loss of life, failure to maintain the infrastructure, looting and neglect of important cash crops, causing a large drop in GDP and destroying the country's ability to attract private and external investment.[54] The country has since strengthened, with per-capita GDP (PPP) estimated at $951 in 2008,[100] compared with just $390 in 1994.[101] Major export markets include China, Germany and the United States.[54] The currency is the Rwandan franc and the economy is managed by the central National Bank of Rwanda. Rwanda recently joined the East African Community and there are plans for a common East African shilling, which could be in place by 2012.[102]

Rwanda is a country of few natural resources, and the economy is based mostly on subsistence agriculture by local farmers using simple tools.[103] An estimated 90% of the working population farms, and agriculture comprised an estimated 39.4% of GDP in 2006.[54] Since the mid 1980s, farm sizes and food production have been decreasing, due in part to the resettlement of displaced people.[104][105] Thus despite Rwanda's fertile ecosystem, food production often does not keep pace with population growth, requiring food imports.[54]

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