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Rwanda's manufacturing performance is strong

Rwanda's manufacturing performance is strong

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In the small landlocked countries of East Africa, which lack natural resources and competitive industries, Rwanda's economy performed well, with an average annual growth of 7.9% between 1995 and 2014. Its stable political environment and economic growth have attracted more and more investors.

Established in 2000, the government's Rwanda Vision 2020 policy document includes provisions to nurture the private sector, build infrastructure and boost the knowledge economy.

Last year the Rwandan economy grew at 7.2%, according to the IMF, backed by strong performances in sectors including trade and manufacturing. Both sectors have benefited from the country's Made In Rwanda policy, implemented in 2015 to enhance industrialisation.

A key goal of the strategy is to boost the capacity to produce internationally competitive products by adding value to traditional goods and creating new value chains for others.

The government initially targeted the textile, garment and leather sub-sectors but now includes value chains like agro-processing, horticulture and construction materials.

Since Made in Rwanda was launched, the country's overall trade deficit has decreased by 36% as exports climbed to $944m in 2017, up from $559m two years prior.

The government hopes to further encourage this trend by working closely with export-focused companies and offering attractive incentives for international and local firms looking to do business.

One example is Africa Improved Foods, a consumer goods company entering Rwanda in 2016 through a joint partnership with the government, which has begun to produce and export nutritious foodstuffs to the surrounding East African region.

Niobium, a rare metal used in items such as piping, airplane parts and MRI machines, is traditionally exported to China and the US, but promising new markets include Thailand, Germany, Spain and France.

International mining processing firm Power Resources Group began building Rwanda’s first tantalum and niobium factory in 2017 at an estimated cost of $16m.

Rwanda's exports to the UAE more than doubled in a year, rising to $87m in 2016 from just $40m the year before, according to the United Nations Comtrade database. Pearls, precious stones, metals and coins made up 92% of these exports.

Neighbouring Democratic Republic of Congo (DRC) is the country's largest trading partner. According to World Integrated Trade Solution (WITS) data, Kigali exported $198m to Congo in 2016, much of that construction materials including iron, steel and cement.

With Rwanda's population at only around 12m, the 80m potential customers who suffer from a lack of services and goods in the DRC are an enormous attraction for businesses.

Rwanda's relative ease of doing business and attractive macroeconomic conditions make the country a comfortable base from which to expand and export into bigger but less predictable regional markets.

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