Rwanda Trade Deficit Widens

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The deficit in the balance of formal trade in goods was US$ 87.91 million in May 2017

Rwanda’s trade imbalance rose by 32.81 percent in May from the previous month as the country imported more, National Institute of Statistics of Rwanda (NISR) indicates.

Trade deficit is an economic measurement of a negative balance of trade in which a country’s imports exceeds its exports.

The deficit in the balance of formal trade in goods was US$ 87.91 million in May 2017, an increase of 32.81 per cent when compared to the previous month of April. Year-over-year, the formal trade in goods deficit decreased by 14.47 per cent compared to the deficit of May 2016.

Figures show that in May 2017, domestic exports values increased by 15.12 per cent when compared to April 2017 and increased by 49.54 per cent vs. May 2016. Table 2 shows exported goods in US $ million by SITC sections.

Meanwhile total imports values increased by 29.39 per cent when compared to April 2017 and also increased by 4.08 per cent vis-a-vis May 2016 In May 2017,

On the other hand re-exports values increased by 49.91 per cent when compared to April 2017 and also increased by 26.07 per cent when compared to May 2016.

 

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