Rwanda’s export invoices increase by 16 percent in H1– reserve bank|News Ghana

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Rwanda’s export invoices increased by 16.0 percent in the very first half of 2021, the National Bank of Rwanda stated Thursday in its August Monetary Policy and Financial Stability Statement.

The increase in export invoices totaled up to 672.2 million U.S. dollars up from 579.5 million U.S. dollars a year previously, according to the declaration.

Traditional exports such as coffee, tea, minerals increased by 30.2 percent, non-traditional exports by 63.6 percent and re-exports by 54.3 percent, it revealed.

“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 guv of the National Bank of Rwanda, stated throughout a virtual occasion to launch the declaration.

According to the declaration, in the very first half of 2021, Rwanda’s imports increased 6.1 percent year-on-year, totaling up to 1,618.1 million U.S. dollars from 1,524.6 million U.S. dollars in the very first half of 2020.

The increase in imports was credited to increased need for intermediary items, durable goods and capital items, Rwangombwa stated.

The reserve bank revealed Rwanda’s economy continues to recuperate from the effect of the COVID-19 pandemic.

The genuine gdp increased by 3.5 percent in the very first quarter of 2021, after 3 successive quarters of economic crisis primarily due to great efficiency of farming and market sectors, it stated.

The healing is likewise being supported by substantial financial and financial policy steps in addition to alleviating of COVID-19 containment steps, according to the reserve bank.

The vaccination present in addition to financial and financial policy interventions will be the foundation for the continuation of the healing in the 2nd half of 2021, it stated. Enditem

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Rwanda’s export invoices increase by 16 percent in H1– reserve bank|News Ghana