Market News | Buildexpo Rwanda 2017

Market News

Why Rwanda is a market to target

Rwanda has a population of 11.8 million people and a Gross Domestic Product (GDP) of USD 8.096 billion dollars.
Rwanda’s economy grew by an average of 8 percent annually from 2002 to 2012, and then 6.9 percent growth in 2015 and 5.9 percent growth in 2016.
The International Monetary Fund (IMF) expects Rwanda’s GDP to grow between 6-7 percent in 2017 and 2018.

There are many positive big picture economic signs: inflation remains below 8 percent (pushed up from 5% in 2016), the country maintains its
reputation for low corruption, Rwanda's debt-to-GDP ratio, at 40 percent, is relatively low, and the percentage of foreign assistance in the
country’s annual budget has dropped from over 80 percent a decade ago to 38 percent in 2016/2017 National Budget. Rwanda enjoys relatively
high rankings in the World Bank's Ease of Doing Business Index, which ranked Rwanda 59th out of 190 economies in the 2016 report—second-best in sub-Saharan Africa behind Mauritius.

Leading sectors include energy, agriculture, trade and hospitality, and financial services. Rwanda’s economy is overwhelmingly rural and heavily dependent on agriculture. Strong growth in the services sector, particularly construction and tourism, has contributed to overall economic growth. GDP per capita was USD 697 in 2015, according to the World Bank. The government’s economic priority is turning Rwanda into a regional trade, logistics, and conference hub. Pillars of this strategy include the construction of several new international business class hotels and a convention center in downtown Kigali, and expanding and investing in the fleet for the national carrier RwandAir.
Rwandan exports increased by 7.4 percent year-on-year in 2016, reaching USD 621.6 million according to UN ComTrade data. Commodities, particularly gold, tin, tantalum, tungsten, tea, and coffee, generated over 48 percent of Rwanda’s export revenue. Rwanda earned USD 73.5 million from tea exports in 2016, a nine percent increase from 2015. Over the same period, coffee accounted for USD 59.5 million worth of exports, down seven percent from the previous year. Major markets for coffee exports are the United States and Europe, while the Middle East and Pakistan are the main buyers of Rwandan tea. Tourism was, for the first time in 2016, the country’s leading foreign exchange earner, with total revenues estimated at USD 390 million in 2016, according to the National Bank of Rwanda. This is due to successes in leisure tourism, which is the highest income generating sector, and followed by business tourism – Meetings, Incentives, Conferences and Events (MICE).

Rwanda benefits from low violent crime rates; its strong police and military provide a security umbrella that minimizes potential criminal activity and political conflicts. Leading reasons to consider the Rwandan market for U.S. export expansion include:

  • BUILDEXPO RWANDA 2017 - AFRICA'S MEGA BUILDING & CONSTRUCTION EVENT

    Posted on :Monday , 14th August 2017

    Last year the construction sector in Rwanda was flourishing, so the players in Rwanda’s construction sector are positive for it to be replicated in 2017.
     
    There are some very big projects to be kicked off soon. The Bugesera airport is one example of a major project which is set to become a transportation hub for the East African region and there are many ot. . .

  • Habineza pledges to boost infrastructure development

    Posted on :Wednesday , 9th August 2017

     Democratic Green Party of Rwanda flag bearer Frank Habineza has said he will improve all roads connecting Rwanda and Burundi to ensure citizens of both countries enhance cooperation and trade easily.

     
    Habineza said this yesterday while campaigning in the districts of Gisagara and Ruhango of the Southern Province.
     
    “We realise. . .

  • Construction Permit Norms Eased in Kigali

    Posted on :Wednesday , 9th August 2017

     Gone are the days when people wait for months on end for a much-needed building or construction permit. Instead, applicants will now get it ASAP, maybe in just a day.

     
    In line with easing doing business and improving service delivery, City of Kigali and Rwanda Housing Authority (RHA), in collaboration with Rwanda Investment Climate Reform Program (RICRP3) of th. . .

  • Rwanda: Hygebat Quality Construction Works, Contributing to Rwanda's Evolving Skyline

    Posted on :Wednesday , 9th August 2017

     Société d'Hydraulique, Génie Civil et Bâtiment (HYGEBAT) was established in 1995 to operate in the construction industry. Since then the company has gained very solid experience in this field and has won the confidence of many owners and or potential developers. With headquarters in Kigali, Rwanda, the company is involved in the fields of; building, civil engine. . .

  • Rwanda: NISR Training Centre Will Improve Quality of Statistics, Officials Say

    Posted on :Wednesday , 9th August 2017

     A Rwf7 billion statistical training centre that's under construction at the National Institute of Statistics of Rwanda (NISR) headquarters in Nyarugenge District will significantly impact on the quality of the country's data collection, analysis and management across different sectors, officials have said.

     
    Yusuf Murangwa, the General Director of NISR, told The. . .

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