diff --git a/service/storage_proxy.cc b/service/storage_proxy.cc
index 4e2cbe0d24..16ae4c889a 100644
--- a/service/storage_proxy.cc
+++ b/service/storage_proxy.cc
@@ -1672,6 +1672,14 @@ void storage_proxy_stats::stats::register_stats() {
                        sm::description("number read requests failed due to an \"unavailable\" error"),
                        {storage_proxy_stats::current_scheduling_group_label()}),
 
+        sm::make_total_operations("read_rate_limited", read_rate_limited_by_replicas._count,
+                       sm::description("number of read requests which were rejected by replicas because rate limit for the partition was reached."),
+                       {storage_proxy_stats::current_scheduling_group_label(), storage_proxy_stats::rejected_by_coordinator_label(false)}),
+
+        sm::make_total_operations("read_rate_limited", read_rate_limited_by_coordinator._count,
+                       sm::description("number of read requests which were rejected directly on the coordinator because rate limit for the partition was reached."),
+                       {storage_proxy_stats::current_scheduling_group_label(), storage_proxy_stats::rejected_by_coordinator_label(true)}),
+
         sm::make_total_operations("range_timeouts", range_slice_timeouts._count,
                        sm::description("number of range read operations failed due to a timeout"),
                        {storage_proxy_stats::current_scheduling_group_label()}),
@@ -4251,6 +4259,14 @@ void storage_proxy::handle_read_error(std::variant<exceptions::coordinator_excep
             get_stats().read_timeouts.mark();
         }
         return bo::success();
+    }), utils::result_catch<exceptions::rate_limit_exception>([&] (const auto& ex) {
+        slogger.debug("Read was rate limited");
+        if (ex.rejected_by_coordinator) {
+            get_stats().read_rate_limited_by_coordinator.mark();
+        } else {
+            get_stats().read_rate_limited_by_replicas.mark();
+        }
+        return bo::success();
     }), utils::result_catch_dots([&] (auto&& handle) {
         slogger.debug("Error during read query {}", handle.as_inner());
         return bo::success();
diff --git a/service/storage_proxy_stats.hh b/service/storage_proxy_stats.hh
index ade1a901c5..fcecbd508b 100644
--- a/service/storage_proxy_stats.hh
+++ b/service/storage_proxy_stats.hh
@@ -127,6 +127,8 @@ struct stats : public write_stats {
     seastar::metrics::metric_groups _metrics;
     utils::timed_rate_moving_average read_timeouts;
     utils::timed_rate_moving_average read_unavailables;
+    utils::timed_rate_moving_average read_rate_limited_by_replicas;
+    utils::timed_rate_moving_average read_rate_limited_by_coordinator;
     utils::timed_rate_moving_average range_slice_timeouts;
     utils::timed_rate_moving_average range_slice_unavailables;