Rwanda’s exports increased by 39.4% in 2022, according to figures presented to parliament by Finance and Economic Planning Minister Uziel Ndagizimana on Wednesday February 2023.

He said this while presenting a mid-term review of the budget for fiscal year 2022-2023, which is expected to last until the end of June.

The good performance of Rwanda’s export base is mainly due to the increase in the country’s export volumes from January to November 2022 and the favorable market prices of the country’s main exports on international markets.

For example, the value of Rwandan coffee exports he increased by 40%, and the value of minerals he increased by more than 42%. Similarly, the value of tea has increased by more than 7%, according to the minister. Meanwhile, Rwanda’s imports increased by 27%, with Ndagijimana saying the increase was mainly due to petroleum products, food and industrial materials, as well as higher import volumes and higher prices on international markets. .

From January 2022 to November, he’s trade deficit has expanded by 19.9% ​​to $2.3 billion from $1.9 billion in the same period last year.

Trade deficit is the value of the amount of trade a country imports relative to its exports.

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