Rwanda's exports to the United Arab Emirates (UAE) increased by 63.9 per cent, from slightly over $951.2 million in 2023 to more than $1.55 billion (approx. Rwf2.2 trillion) in 2024, shows Rwanda Development Board's 2024 report. The report indicates that the strong growth in sales to the UAE was key in driving Rwanda's overall goods export performance.
The UAE remains Rwanda's largest market abroad, with the Middle East nation accounting for 63.9 per cent of Rwanda's goods exports in 2024, according to the report indicated.
The data implies a seven-percentage increase in UAE's share of the country's [formal] goods exports compared to 56.9 per cent in 2023.
Rwanda's total goods exports amounted to over $3.2 billion (approx. Rwf4.5 trillion) in 2024, meaning a rise of almost 30 per cent, given that they had generated more than $2.46 billion in 2023. According to RDB, the figure includes informal cross-border trade (ICBT). The UAE's share does not include ICBT.
ALSO READ: UAE was Rwanda's largest export destination in 2023 - RDB
Regarding exports per country of destination, DR Congo ranked second - after UAE - with $229.5 million in 2024, up from $173.5 million in the previous year, a 32.3 per cent increase.
China was the third export destination for Rwanda, with $83.6 million in 2024, a 0.4 per cent decrease compared to $83.9 million in 2023.
Meanwhile, the report observed that exports to Luxembourg surged by an impressive 243.8 per cent to $55.4 million in 2024 compared to $16.1 million in the previous year, reflecting Rwanda's successful market diversification and expanding global footprint.
As per the report, Rwanda's growing presence in markets such as the UAE, Luxembourg, and East Africa is strengthening its position in global trade.
What are the factors for the overall export growth?
In 2024, export cargo saw a 33 per cent increase compared to 2023, mainly driven by factors including additional capacity on major cargo markets.
National carrier RwandAir facilitated exporters to reach international markets, with a 33 per cent increase in cargo tonnage, to 6,113 tonnes in 2024, from 4,595 tonnes in 2023, with key destinations including UK and UAE.
ALSO READ: Rwanda-UAE trade passes $1 billion in 2022
As reported, increased frequency on regional and international routes, particularly to the UK and UAE, boosted cargo capacity. Operations also commenced in Djibouti, the report added.
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The factors for this also include interline partnerships which facilitated the uplift of more cargo to and from destinations where RwandAir does not operate directly.
To drive Rwanda's export growth, RDB is enhancing support for businesses through tailored facilitation, expanded market access, hands-on coaching, and digital trade solutions.
To this end, as indicated, 243 companies in manufacturing, agro-processing, horticulture, services, and handicrafts were facilitated to access both regional and international export markets.
As a result, export revenues amounting to more than $164 million were generated by these companies in manufacturing, agro-processing, and horticulture sectors,
The development of Kigali and Bugesera special economic zones continues to create industrial growth opportunities, fostering innovation and increasing Rwanda's capacity to produce and export high-value goods and services, the report states. In 2024, Rwanda's total export receipts reached $4.2 billion (approx. Rwf6 trillion), marking a 22 per cent increase from slightly over $3.5 billion in 2023, the report indicated.
The amount consisted of over $3.2 billion in goods exports, and slightly more than $1.078 billion in services exports. Services exports recorded nearly 3.4 per cent increase from slightly over $1.043 billion in 2023.
