According to the latest report from the National Institute of Statistics of Rwanda (NISR), trade activity slowed overall, but the country's trade deficit narrowed. Total exports for the month amounted to $148.51 million, marking a 2.9% decrease from March and a more significant 28.01% drop compared to $205.96 million in April 2024.
The figures indicate that domestic exports amounted to $105.42 million, slightly down from March by 1.69%, and down 33.04% year-over-year.
Re-exports, which include goods imported into Rwanda and then exported without major transformation, also declined, falling 5.74% from March and 11.8% compared to April 2024.
On the import side, Rwanda brought in goods worth $380.64 million in April, down from $420.18 million the previous month. This represents a 9.41% month-on-month decrease and an 18.22% drop year-on-year.
The slowdown in imports contributed to a narrowing of the country's trade deficit, which improved by 10.43%, falling to $232.13 million from $267.23 million in March.
While the drop in exports signals subdued external demand or production constraints, the sharper decline in imports may reflect changing consumption patterns, tighter foreign exchange conditions, or shifts in trade logistics.
Imports of key items such as mineral fuels, machinery, and chemicals declined noticeably, though certain categories like vegetable oils and manufactured goods recorded modest gains.
Rwanda's trading partners also saw shifts in performance. The United Arab Emirates remained the top destination for Rwandan exports, although volumes declined slightly from previous months.
The Democratic Republic of Congo maintained its position as a major export partner, increasing its share of Rwanda's exports. Other notable export destinations included China, Sweden, and the United States, with the latter seeing an uptick in Rwandan goods.
In terms of imports, China continued to lead as Rwanda's largest source, supplying goods worth over $79 million, despite a decline of 18% compared to March. India and Tanzania followed, with Indonesia emerging as a notable contributor, with its exports to Rwanda rising sharplyâ€"by over 700%â€"due mainly to oils and fats.
Transport data also illustrated a shift in trading dynamics. The bulk of trade continued to move by land, accounting for the vast majority of exports and imports.
However, air transport, which had seen a strong performance in March, slowed dramatically in April. Imports by air fell to just $37.5 million, down from nearly $80 million, while air exports also declined slightly.
Despite the decline in overall trade activity, the narrowing trade deficit may offer a measure of relief, suggesting a more balanced exchange between what the country buys and sells.
IGIHE
Source : https://en.igihe.com/news/article/rwanda-s-trade-deficit-narrows-in-april
