Rwanda’s economy was destroyed during the 1994 genocide where over 1 million Rwandans where killed and many where sent in exile to neighboring countries.This caused a large fall in GDP and smashed the country’s ability to attract private and external investor. However the current government has done am amazing job of turning thing around and now the economy is fairly stable with steady growth, low inflation and investor s ounce again prepared to do business in Kigali.
Rwanda’s economy has since reinforced with per-capita GDP (PPP) anticipated at $ 1,592 in 2013 compared with $416 in 1994, Rwanda export it’s produce Majorly to countries like China, Germany, and the United States. The financial system is managed by the central National Bank of Rwanda and the currency is the Rwandan franc.
Agriculture is the main employer and export earner, contributing about 40% of GDP with coffee by far the largest export accounting for about 75% of export income tea and pyrethrum, bananas, beans, sorghum and potatoes are also very important. Different species of animals are raised in Rwanda and on many cases you can find at least one animal reared in most of people’s home to mention some include cows, goats, sheep, pigs, chicken, and rabbits, with geographical variation in the numbers of each.
The country is a major recipient of international aid; international donors include Japan, Belgium, Germany and the UK. The manufacturing sector accounts for nearly 20%of GDP.
Local produce includes cement, small-scale beverages, furniture, cigarettes, soap, plastic goods and textiles. Rwanda’s mining industry is an important contributor, generating US$93 million in 2008. Mineral products produced in Rwanda include wolframite, gold, cassiterite, and coltan.
Rwanda’s Tourism is one of the fastest-growing economic resources and it’s mentioned one of the growing exchanges earning in Rwanda, Rwanda houses the rare species that’s mountain gorillas which has made hundred thousand of travelers whole over the world to come and see these close relative in their natural habitat. Other attractions include chimpanzee in Nyungwe forest, the resorts of Lake Kivu, and Akagera. All these have improved the economy of Rwanda.