GDP (World Bank data) | Rwanda
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GDP (World Bank data) of Rwanda in 2024 amounted to 14 252 million USD, which is 0.559% less than in 2023, when it was 14 332 million USD. This is the first year of decline after a period of growth. According to the World Bank statistics, since 1960, the Gross Domestic Product has increased in 119.76 times. The lowest GDP was recorded in 1960, with a value of 119 million USD. The maximum GDP of Rwanda was in 2023, when it reached 14 332 million USD. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. Gross Domestic Product (GDP) is calculated by each country in its national currency. To enable cross-country comparability, the World Bank converts these values into US dollars using the annual average exchange rate.
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Definition
Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
