Rwanda has registered an increase in the total value of exports during the first quarter of 2015, putting the country on track to achieve its export promotion strategy and reduce on imports. export
According to statistics released by National Institute of Statistics of Rwanda (NISR) on Monday, exports increased by 10.22 percent when comparing to the same quarter of 2014 while imports decreased by 1.75 percent over the same period as of last year.
The total value of exports is 101.90 million U.S. dollars, imports is 432.61 million U.S. dollars while the total value of re- exports is 37.87 million U.S. dollars.
Speaking to journalists on Monday, Claver Gatete, Rwanda minister of finance and economic planning said that the country’s economy continues to register an impressive growth.
“The growth of exports will significantly reduce trade deficits and boost the growth of local industries,” he noted.
In the first quarter of 2015, Rwanda’s total trade fetched 572. 38 million U.S. dollars translating to 0.13 percent higher than the same quarter last year.
According to statistics, the small Central African country’s trade deficit is 292.75 million U.S. dollars, which is 5 percent smaller than the deficit of the first quarter of 2014 which was 309.06 million U.S. dollars, but 16 percent higher than the fourth quarter of last year (253.11 million U.S. dollars).
Rwanda’s economy has maintained average growth of 8 percent in the past 10 years save for last year’s slowdown attributed to delays and suspension in disbursement of donor aid in 2012.
According to the second Economic Development and Poverty Reduction Strategy, the country projects an annual economic growth rate of 11.5 percent by 2018 which will help propel the country into a middle income economy with the GPD per capita of 1,240 U.S. dollars. Enditem



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