KIGALI Rwanda (Xinhua) --
Rwanda’s trade deficit reduced by 24.9
per cent in August 2017 on robust export growth compared
to the same period last year, Rwanda’s finance minister
presenting recent economic development and budget
implementation to the Rwandan parliament, Claver Gatete,
Minister of Finance and Economic Planning, said the
country’s trade deficit reduced by 24.9 percent, from
about 1179 million U.S. dollars in August of 2016 to
885.35 million dollars this August.
exports increased by 44.9 percent while imports
decreased by 7.7 percent this year. Exports are
projected to continue growing steadily with observed
improvements in commodity prices and growing
contribution of mineral exports,” he added.
Rwanda has embarked on promoting locally made products
and boosting horticultural crops for exports which will
significantly reduce reliance on imports.
dubbed “Made in Rwanda Products” seeks to discourage the
use of imported goods which are or can be produced
locally by making the goods produced in the country
reliable, durable and affordable.
him, Rwanda’s economic activity is projected to recover
progressively in 2017 and higher in 2018 and over the
presentation, Gatete said that inflation continues to
drop below the medium-term target of 5 percent which
stands at 3.8 percent presently.
targets to double the current average annual GDP from
the current 5.4 percent growth rate to more than 10
percent to be able to reach upper middle income status
economic pillars that include tourism, manufacturing,
retail and wholesale and mining are also projected to
deliver above 10 percent of GDP growth under the 2035