Rwanda's external debt stocks, private nonguaranteed (PNG) (DOD, current US$) was US$3.1 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 207.11% from US$1.01 billion in 2014 (11.87% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$3.1 billion | 2024 |
| Five years earlier | US$1.94 billion | 2019 |
| Ten years earlier | US$1.01 billion | 2014 |
| Highest | US$3.1 billion | 2024 |
| Lowest | US$240 million | 2008 |
| Average since 2015 | US$2.13 billion | 2015–2024 |
| First recorded | US$240 million |
What the numbers say
In 2024, Rwanda's external debt stocks, private nonguaranteed (PNG) (DOD, current US$) rose 7.1% on 2023 (from US$2.9 billion to US$3.1 billion).
Across the 15 yearly changes before that (2009 to 2023), the average change was +21.7% and a typical year strayed about 34.3% from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 125.3% in 2012 and the biggest yearly fall was 25.1% in 2011. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about US$198.63 million a year. A straight line explains 99% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
A straight-line projection, tested first
Extending that straight line gives about US$3.68 billion for 2027. We show this only because the same method, fitted on earlier years, predicted 2022 to 2024 better than "no change" would have: its average miss was US$52.74 million, against US$419.72 million for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
How it compares
In 2024, Rwanda had the 53rd highest value of the 86 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Rwanda | US$3.1 billion | 2024 |
| Low income | US$72.37 billion | 2024 |
Closest to Rwanda in the 2024 ranking
- Montenegro — 49th of 86: US$3.86 billion
- Zimbabwe — 50th of 86: US$3.8 billion
- North Macedonia — 51st of 86: US$3.34 billion
- Egypt, Arab Rep. — 53rd of 86: US$2.93 billion
- Benin — 54th of 86: US$2.79 billion
- Jamaica — 55th of 86: US$2.75 billion
What this measures
Private nonguaranteed external debt comprises long-term external obligations of private debtors that are not guaranteed for repayment by a public entity. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 17 values
| Year | External debt stocks, private nonguaranteed (PNG) (DOD, current US$) |
|---|---|
| 2024 | 3,101,796,000 |
| 2023 | 2,896,486,000 |
| 2022 | 2,556,078,000 |
| 2021 | 2,431,735,000 |
| 2020 | 2,173,085,000 |
| 2019 | 1,936,798,000 |
| 2018 | 1,769,459,000 |
| 2017 | 1,645,369,000 |
| 2016 | 1,535,544,000 |
| 2015 | 1,271,737,000 |
External debt stocks, private nonguaranteed (PNG) (DOD, current US$) in nearby economies
- Angola — US$1.75 billion (2024)
- Benin — US$2.79 billion (2024)
- Botswana — US$0 (2023)
- Burkina Faso — US$5.07 billion (2024)
- Cameroon — US$271.23 million (2024)
- Côte d'Ivoire — US$239.97 million (2024)
- Eswatini — US$102.34 million (2024)
- Ghana — US$4.55 billion (2024)
- Guinea-Bissau
More economic policy & debt data for Rwanda
- General government final consumption expenditure (current US$) — US$2.47 billion (2025)
- General government final consumption expenditure (current LCU) — 3.52 trillion (2025)
- General government final consumption expenditure (constant 2015 US$) — US$2.46 billion (2025)
- General government final consumption expenditure (constant LCU) — 3.28 trillion (2025)
- General government final consumption expenditure (% of GDP) — 15.06% (2025)
- Households and NPISHs final consumption expenditure (current US$) — US$10.54 billion (2025)
- Households and NPISHs final consumption expenditure (current LCU) — 15.06 trillion (2025)
- Households and NPISHs final consumption expenditure (constant 2015 US$)
Reading data like this
Questions people ask
- What is Rwanda's external debt stocks, private nonguaranteed (PNG) (DOD, current US$)?
- US$3.1 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2008?
- It is up 1,192% from US$240 million in 2008 (17.34% a year on average, compounded). The highest value was US$3.1 billion in 2024 and the lowest US$240 million in 2008.
Source
World Bank, World Development Indicators, indicator DT.DOD.DPNG.CD, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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