Rwanda’s total imports and exports with the United Arab Emirates (UAE) was valued worth U$ 900 million as of December last year, APA reliably learnt Monday.
Trade between two countries grew ten-fold between 2010 and 2020, and almost three-fold from 2018 to 2020, it said.
This was revealed on the sideline of the Dubai Expo 2020 which kicked off on 1 October 2021 and will swing through to 31 March 2022.
During the last 23 years the exports of Rwanda to United Arab Emirates have increased at an annualized rate of 70.2%, from $2.29k in 1996 to $470 million
Latest reports by the National Bureau of Statistics of Rwanda indicate that overall the deficit in the balance of formal trade in goods was US$ 218.28 million in December 2021, an increase of 3.85 per cent compared to the previous month of November.
Rwanda, one of Africa’s fastest-growing economies, is positioning itself as a trade and investment hub and gateway to other countries in the East African Community.
CU/abj/APA