Macro-economic Data

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A. Demography and Macroeconomy

A.1 Population
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Total population12.21 million11.92 million11.63 million
wdi
A.1.1
Total number of households  2.42 million
2012 Census
A.1.2
Average household size  4.6
EICV4 (Integrated Household Living Conditions Survey)
A.1.3
Urban population (% of total)30.73% of total29.78% of total28.81% of total
WDI
A.1.4
Urban population growth (annual %)5.57%5.47%5.9%
WDI
A.1.5
A.2 Economy
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
GDP, current prices (U.S. dollars)9,137 USD (millions)8,406 USD (millions)8,277 USD (millions)
WEO
A.2.1
GDP based on PPP valuation of country GDP (Current international dollar)24,625 USD (millions)22,798 USD (millions)21,240 USD (millions)
WEO
A.2.2
GDP per capita, current prices (U.S. dollars)771.7 USD 733.57 USD 735.62 USD
WEO
A.2.3
GDP based on PPP per capita GDP (Current international dollar)2,079.88 USD 1,973.28 USD 1,883.93 USD
WEO
A.2.4
GDP, constant prices (Percent change)6.1%5.98%8.87%
WEO
A.2.5
Inflation, end of period consumer prices (Percent change).67%7.28%4.53%
WEO
A.2.6
GDP, deflator (Index)113.52105.79100.29
WEO
A.2.7
Consumer price index146.63135.42126.35
WDI
A.2.8
GINI Index  50.4
WDI
A.2.9
Median urban annual household income802.88 USD/year  
NISR: Labour Force Survey 2017
A.2.11
Growth in urban household income (%/year)A.2.13
Employment (% of total laborforce)A.2.14
Self-employed22.5%  
NISR: Labor Force Survey 2017
A.2.14.1
Informally employed91%  
NISR: Labor Force Survey 2017
A.2.14.2
Unemployed16.7% 13.1%
NISR: Labor Force Survey 2017
A.2.14.3
Interest Rates:A.2.15
Central bank lending/discount rate9.5%10.25% 
IFS
A.2.15.1
Yield on 3 months treasury bills6.91%6.04%3.32%
IFS
A.2.15.2
Yield on 10-year Government bond13%  
Country Editor
A.2.15.3
Average bank deposit rate5.95%7.91%8.24%
IFS
A.2.15.4
Lending rate17.19%17.29%17.33%
IFS
A.2.15.5
B. Housing Market
B.1 Housing Stock: Production, Transactions
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Number of dwelling units:B.1.1
Total  2.49 million
Rwanda Population and Housing Census
B.1.1.1
Total Urban  .43 million
Rwanda Housing and Population Censu
B.1.1.2
Percentage of vacant units0% of total  
Country Editor
B.1.2
Characteristics of housing stock:B.1.3
Average dwelling unit size-existing  38.9 sq.mt
EICV4 (Integrated Household Living Conditions Survey)
B.1.3.1
% of substandard dwelling units  35.6% of total
Rwanda Population and Housing Census-http://hofinet.org/documents/doc.aspx?id=2247
B.1.3.2
Tenure in urban areas (%):B.1.4
Owner-occupied units  44.6% of totalB.1.4.1
Private rental units  49.9% of total
Rwanda Population and Housing Census-http://hofinet.org/documents/doc.aspx?id=2247
B.1.4.3
Public / social rental units  4.4% of total
EICV4 (Integrated Household Living Conditions Survey)
B.1.4.4
% of urban units with state recognized lienable title99% of total  
Country Editor
B.1.4.6
Estimated Number of units completed/yearB.1.5
Formal sector/registered2,500 units  
Country Editor
B.1.5.1
Informal sector/non-registered12,000 units  
Country Editor
B.1.5.2
Number of recorded urban housing transactions/year55372  
Country Editor
B.1.6
How complete is this measure for formal sector transactions?Somewhat complete  
Country Editor
B.1.7
B.2 Housing Prices and Cost for Urban Areas or Capital City
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Median urban house price in USD:B.2.1
New housing85,000 USD   
Country Editor
B.2.1.1
Existing housing85,000 USD   
Country Editor
B.2.1.2
Median house price to median annual HH income:B.2.2
Capital city105.72  
Country Editor
B.2.2.2
Annual average % change in median house prices:B.2.3
M2 construction cost for median quality houseB.2.4
National300 USD/sq.mt  
Country Editor
B.2.4.1
Urban500 USD/sq.mt  
Country Editor
B.2.4.2
Capital city700 USD/sq.mt  
Country Editor
B.2.4.3


back to top | Country Data:
Notes: planned/proposed for civil servants but not yet adopted
Notes: $67 is average monthly salary for formal sector work
Notes: 24-32
Notes: 35.2 billion FRW outstanding loans; 4,947.53 million FRW non perfroming loans (UMURENGE SACCO only) For all MF products 17,080.69 Mio RWF NPL; 222.9 Mio Rwf outstanding
Notes: adopted in 2017 but not yet implemented
Notes: adopted yet not implemented (see subsidized funding sources for mortgage lenders)
Notes: Base year
Notes: BNR: Yield curve shape on 23rd March 2018
Notes: BRD already stopped providing mortgages itself and instead will furnish smaller banks with funds for mortgages under conditions yet to be elaborated (as adopted with Affordable Housing Fund, but not yet operational).
Notes: Commercial Bank of Africa was licensed as a microfinance bank in 2016
Notes: Credit Replacement Indemnity
Notes: Disclosure Initiative, following IASB
Notes: Equity Bank, BK, UOB, EcoBank, I&M, Crane Bank, KCB, Cogebank, Access, BPR
Notes: Extrapolation based on RNRA (Rwanda National Resources Authority)
Notes: Figure calculated as of June 30, 2012
Notes: Figure calculated as of June 30, 2013
Notes: Figure calculated as of June 30,2013
Notes: for selling
Notes: Houses built with Wood/Mud
Notes: Illegal transfers of converted agricultural land prevent this figure from being fully complete
Notes: in the capital city
Notes: Land lease fee
Notes: Modal value
Notes: Most are outside of Kigali and the main urban areas in general but located on former farm land; very rough estimate
Notes: No national minimum wage, but some sectors, such as construction benefit from a minimum wage.
Notes: Only few have not been registered through NLTRP (National Land Tenure Reform Program) due to unidentified owners or unresolved ownership disputes
Notes: Percentage of vacant units is negligible. Some owners of property are not identified/found after the 1994 genocide
Notes: planned through Affordable Housing Fund
Notes: planned through Affordable Housing Fund
Notes: planned/proposed for civil servants but not yet adopted
Notes: Process usually ends in reorganization/liquidation
Notes: Soon BRD will be subsidized as a source for mortgage lenders (Development bank of Rwanda)
Notes: subsidies provided to civil servants through Affordable Housing Fund
Notes: subsidized interest rate reduction planned through Affordable Housing Fund
Notes: There is a wide range from 25,000 - 125,000
Notes: urban: 49.2 m2 rural: 36.8 m2
Notes: Wide range from 25,000 - 125,000