According to the recently presented Monetary Policy and Financial Stability statement, exports from Rwanda show a slight decline compared to 2013, and 2012. Rwanda’s exports grew moderately by 4.7% in 2014; a significant slow down as compared to 18% in 2013, and 28% in 2012.
Imports values however grew by 6.8% leading to a slightly worsened trade deficit of 7.5% which is a slight fall back in the external sector performance of the country.
“Rwanda’s export growth since 2010-2013 was good, growing on average above 20%, but in 2014, Rwanda faced double shock which negatively affected the exports trend,” Francois Kanimba, the Minister of Trade and Industry said during the MP/FS statement presentation.
He said, “Some of these shocks included the commodity prices, where the number of primary commodities exported by Rwandans experienced a significant decline in prices. This also affected the volumes of exports since when prices fall, most exporters are not encouraged to continue raising the volumes of exports, plus some of the non-tariff barriers put by some neighbouring countries which have significantly been affecting the region’s trade.”