The rise in exports reflection of growing economy

The Rwanda Development Board (RDB), announced yesterday that the country’s exports increased by 23.8 percent in 2010 and contributed an estimated $454 million to the national economy, compared to US$366 million in 2009, reflecting steady growth in the trade and manufacturing sector.

The Rwanda Development Board (RDB), announced yesterday that the country’s exports increased by 23.8 percent in 2010 and contributed an estimated $454 million to the national economy, compared to US$366 million in 2009, reflecting steady growth in the trade and manufacturing sector.

Tourism has continued to perform impressively with 44 percent of the total exports, followed by mining and coffee which contributed 14.9 and 12.35 percent respectively.

Over the last sixteen years, the government has set up institutions and policies that have enabled business to flourish. According to the 2010 World Bank Doing business Report, Rwanda was ranked 2nd top global reformer out of 183 countries. The year before the country was ranked the top global reformer.

The increase in exports is an indication of a dynamic economy and proof that the country is an ideal destination for investments.

Local companies should take advantage of the favorable policies on export trade and expand their market base. The demand for Rwandan products exists, with improved quality and packaging - to international standards - there is no reason as to why revenues from exports cannot rise even higher.

Increased exports will not only generate more income, but will create more jobs as well.

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