In the third quarter of 2024, Rwanda's total domestic exports surged by 77.86 percent compared to the same period in 2023, reaching US$ 653.85 million, up from US$ 367.61 million. During this period, there were five countries which accounted for $ 554.15 million worth of exports from Rwanda, representing 84.75 percent share of the total value of domestic exports. ALSO READ: Rwanda starts trading under UK’s low-tariff scheme The New Times takes a look at the top five destinations for Rwanda’s exports during the third quarter of 2024. 1. United Arab Emirates The United Arab Emirates (UAE) was by far Rwanda’s largest export market during the third quarter of 2024, with total exports to the Gulf state amounting to US$ 446.51 million, representing a 68.29 percent share of the country’s total exports. The New Times understands that some of the main exports to UAE include Gold, Coltan and horticulture products like coffee, tea, edible fruits and vegetables. 2. Democratic Republic of Congo The neighbouring country was the second top destination for Rwandan exports in the third quarter of 2024. Rwanda’s exports to DR Congo were worth over US$ 62.13 million, representing 9.5 percent share of the country’s total exports. Usually, Rwanda’s exports to DR Congo include agricultural products, livestock, fisheries, among others. 3. China The Asian country continued to rise as a key destination for Rwanda’s exports. In the third quarter of 2024, it received exports worth $ 22.68 million from Rwanda, representing a 3.47 percent share of the country’s total exports. Rwanda’s exports to China include chili. The two countries have been working to improve trade between themselves in the past couple of years. For instance, in 2021, Rwanda and China signed a protocol that would allow Rwanda to export dried chili to China. ALSO READ: Rwanda’s exports to China rose by over 80% in 2023 Prior to that, some Rwandan companies had already signed cooperation agreements with Chinese buyers and were hoping for the signing of the protocol. 4. Luxembourg The small European state was fourth on the list of key export markets for Rwanda. This time, it received Rwandan exports worth $ 13.77 million, representing a 2.11 percent share of the total exports. Rwanda's major export to Luxembourg through the recent years has been the mineral, Tantalite. Tantalite is a mineral that is the main source of tantalum, a corrosion-resistant, heavy, and hard metal which has various uses such as for electronics, pigments, medical, aerospace, defence and chemical processing industries. ALSO READ: Rwanda’s horticulture exports rise by 29% 5. United Kingdom The United Kingdom received Rwandan exports worth $ 9.06 million in Q3 of 2024, representing a 1.39 percent share of the total exports. In mid-2023, Rwanda started trading under the UK’s low tariff scheme for developing countries dubbed the Developing Countries Trading Scheme (DCTS). The initiative cuts tariffs on products entering the UK from 65 developing countries, including Rwanda, and simplifies trading rules so that more products qualify.
