10 December 2013
Trade data show promising signs for Rwanda's economy
Rwanda's trade balance recorded a deficit with a total trade of US$ 631.7 million which was made up of imports of US$ 380.1 million, exports of US$ 220.4 million, and re-exports of US$ 31.2 million during the second quarter of 2013.
According to a breakdown of the figures obtained from Rwanda Revenue Authority and then treated in EUROTRACE Database Management System, black tea exports was multiplied by more than 6 times in the second quarter 2013 when compared to the same quarter of 2012.
Moreover, the April to June change in imports of goods showed that cement; vaccines; medicaments and gas oil were the major imports of Rwanda during the second quarter of 2013.
On the other hands, Africa continued to be the first destination of exports and re-exports of Rwanda for the period under consideration with shares of over 84 percent percent of total exports in all quarters.
At regional level, Kenya is currently the main destination of exports of Rwandan products (53.9%) constistings of products such as black tea and coffee totaling US$ 96.6 millions although Tanzania was the main destination in the last three quarters of 2012 and first quarter of 2013.
However, the major re-exports of Rwanda were jet fuel, gasoline and other gas during the same period while the the main exports of Rwanda continued to be directed to the East African Communities partner states and the Democratic Republic of Congo.
Rwanda's imports mainly come from various trading blocs with Commonwealth members states taking the lion's share of US$ 144.6 millions, while Comesa (US$ 91.6 millions), European Union (US$ 966.8 millions) and SADC (US$ 26.2 millions).
By: Tharcisse Nzasingizimana