Rwanda’s export receipts rise by 16 % in H1 – central financial institution | News Ghana

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Rwanda’s export receipts rose by 16.0 % within the first half of 2021, the National Bank of Rwanda stated Thursday in its August Monetary Policy and Financial Stability Statement.

The rise in export receipts amounted to 672.2 million U.S. {dollars} up from 579.5 million U.S. {dollars} a yr earlier, in accordance with the assertion.

Traditional exports reminiscent of espresso, tea, minerals rose by 30.2 %, non-traditional exports by 63.6 % and re-exports by 54.3 %, it confirmed.

“Rwanda’s external sector has mirrored the general economic recovery with export receipts rising by 16.0 percent in the first half of 2021 year-on-year, reflecting a continued recovery of merchandise exports,” John Rwangombwa, the governor of the National Bank of Rwanda, stated throughout a digital occasion to launch the assertion.

According to the assertion, within the first half of 2021, Rwanda’s imports elevated 6.1 % year-on-year, amounting to 1,618.1 million U.S. {dollars} from 1,524.6 million U.S. {dollars} within the first half of 2020.

The rise in imports was attributed to elevated demand for middleman items, shopper items and capital items, Rwangombwa stated.

The central financial institution confirmed Rwanda’s financial system continues to get better from the influence of the COVID-19 pandemic.

The actual gross home product elevated by 3.5 % within the first quarter of 2021, after three consecutive quarters of recession primarily because of good efficiency of agriculture and trade sectors, it stated.

The restoration can be being supported by sizable financial and monetary coverage measures in addition to easing of COVID-19 containment measures, in accordance with the central financial institution.

The vaccination roll out in addition to financial and monetary coverage interventions would be the spine for the continuance of the restoration within the second half of 2021, it stated. Enditem

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Rwanda’s export receipts rise by 16 % in H1 – central financial institution | News Ghana