Foreign trade figures of Rwanda

Foreign Trade in Figures

Rwanda's economic policy is open to foreign trade which accounts for 66% of the GDP (World Bank, latest data available). In addition to benefiting from the U.S.-Rwanda Bilateral Investment Treaty (BIT), Rwanda is a member of the East African Community (EAC) - one of the most dynamic regional communities in Africa - the Common Markets of Eastern & Southern Africa (COMESA) and the WTO. Custom duties are relatively low in the country and non-tariff barriers are virtually non-existent. Rwanda mainly exports food and live animals (22.8%, mostly tea and coffee), crude materials, inedible, except fuels (13.4%), and manufactured goods classified chiefly by material (6.7%). In contrast, imports are led by machinery and transport equipment (18.7%), food and live animals (17.1%), other commodities & transactions, n.e.s (15.1%), manufactured goods classified chiefly by material (14.3%), mineral fuels, lubricants and related materials (11.0% - data National Institute of Statistics Rwanda, 2023).
 
Rwanda's main export partners in 2023 were the United Arab Emirates (56.8% of total exports), the DRC (10.4%), China (5%), Hong Kong (2.6%), and the U.S. (1.1%). On the other hand, imports came chiefly from China (18.7%), Tanzania (13.6%), India (10.5%), the United Arab Emirates (5.4%), and South Africa (2.7% - data National Institute of Statistics Rwanda).

Due to its strong growth and demand for manufactured goods, Rwanda has a structural trade deficit. In 2023, the country exported USD 2.47 billion worth of goods, while it imported USD 3.89 billion (+17.4% and +9.2% y-o-y, respectively – data WTO). Concerning services, exports stood at USD 1.04 billion against USD 949 million in imports. According to the World Bank, the country’s trade deficit stood at around 15.1% of its GDP in 2023 (from 16.2% one year earlier). Preliminary figures from the National Institute of Statistics show that total export receipts for 2024 amounted to USD 4.2 billion. The UAE remained the largest export market, accounting for 63.9% of total exports.