Rwanda fetches $ 202 million from exports destined to COMESA countries

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Rwanda fetches $ 202 million from exports destined to COMESA countries

A truck crossing from Tanzania.

Despite the declining total export value in the third quarter, 2015, the country fetched US$ 202.12 million in exports value destined to Common Market for Eastern and Southern Africa-COMESA member states in the third quarter, 2015.

The Exports indicated an increase of 0.1 percent increase when compared to US$ 189.07 million recorded in the second quarter of 2015.

But national Institute of Statistics of Rwanda-NISR indicate that the export value decreased  when compared to the same quarter in 2014, with export to COMESA fetching US$ 221.47 million in the third quarter, 2014.

“There were increases in values of 14 percentage of quarterly exports comparing to the same quarter of 2014 and increases of 4.7 percentage when compared to the exports figure registered during the second quarter of 2015,” Yusuf Rurangwa Director general of the statistics  body said in  the report.

Also, re-exports to the member states registered revenues estimated at US$ 41.51 million during the third quarter of 2015 when compared to US$ 38.77 million in the second quarter, 2015.

The slight increase is attributed to more negotiations of the COMESA member states where they agreed to further remove non-tariff Barriers within the region in the first quarter of 2015.

“Our members are getting interested in exporting to COMESA which shows now that the barriers to trade are being addressed,” said Gerald Mukubu, deputy chief executive Officer at private sector federation told this website on Wednesday.

But the country’s  trade deficit continue to surge in the third quarter 2015 to US$ 36.95 million  from US$33.03 million in the second  quarter which is as a result of an increase in import receipts of US$ 119.53 million in quarter three, 2015 from US$ 111.05 million in the second quarter, 2015.

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Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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