Kenya edges Uganda as Rwanda’s biggest market

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Domestic exports to EAC partner states decreased by 36.41 per cent.

Kenya has edged past Uganda and Burundi as Rwanda’s largest export market in East Africa as a result of the ongoing elimination of non-tariff barriers.

According to formal external trade in goods report that covers the third quarter of 2016 in terms of EAC export shares, Uganda and Burundi followed Kenya and received domestic exports from Rwanda valued at US$ 4.75 million and US$ 0.83 million, respectively.

Rwanda’s exports worth US$ 20.45 million to the East African Community Partner States in the third quarter of 2016 accounted for around 18.7 per cent of total domestic exports’ value see appendix 6.8a. Of these, about 70.82 per cent were destined to Kenya (US$ 14.48 million).

Domestic exports to EAC partner states decreased by 36.41 per cent in comparison with the second quarter of 2016, but increased by 4.05 per cent when compared to the same quarter of 2015.

In the third quarter of 2016, Rwanda’s total trade in goods amounted to US$ 603.44 million, a decrease of 5.92 per cent from US$ 641.44 million in the same quarter of 2015 and a decrease of 3.69 per cent from US$ 626.53 million in the preceding quarter of 2016 (second quarter).

The report also showed that in the third quarter of 2016, the top five imports of Rwanda came from the following countries: China (US$ 95.39 million), Uganda (US$ 52.75 million), Kenya (US$ 35.83 million), India (US$ 33.01 million) and United Arab Emirates (US$ 25.07 million).

Based on the quarterly financial stability committee (FSC) Rwanda’s trade deficit reduced by 51 percent in the first eleven months of 2016 from a deficit of USD 1,602.21 million to a deficit of USD 1, 519, 97 million as a result of increase in formal imports by 24 percent in value against an increase in formal exports by 6.1 percent value.

Formal exports covered 26.2 percent in the corresponding period of 2015. Including informal cross border trade, exports covered 29.9 percent of imports from 27.2 percent in the first eleven months of 2015.

 

 

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