A new report indicates that Rwanda’s agricultural exports increased by 44 per cent to over $640.9 million (over Rwf663 billion) in 2021-2022, from $444.8 million (over Rwf460 billion) in the previous financial year.
These figures released on Monday, September 12, contained are in the June Report by the National Agricultural Export Development Board (NAEB).
This imply that Rwanda got over $196 million (or Rwf201 billion) from its agricultural exports. This additional export revenue is more than Rwf160 billion which was allocated to funding agriculture sector projects in the current fiscal year.
The increase in revenues is attributed to the economic recovery measures and movement of goods and people in 2021-2022 compared to 2020-2021, where cross-borders movements were restricted by the coronavirus pandemic preventive measures.
During the period in review, traditional export commodities like tea, coffee, and pyrethrum increased by 18 per cent, while non-traditional export commodities (those that are relatively new for Rwanda, such as horticulture and cereals), increased by 58 per cent.
Vegetables, fruits and flowers accounted for 6.7 per cent of total agro-export revenues as they generated $42.8 million. Vegetable and fruit export earnings rose by 63 per cent and 87 per cent respectively.
However, flower export quantities and revenues decreased (5 per cent and 13 per cent, respectively) as a result of the ongoing political crisis between Russia and Ukraine, both of which are major importers of flowers.
Cereals and grains’ export revenues also increased by 44 per cent, accounting for 20.8 per cent of total agro-export revenues.
NAEB said that it values the contribution of all stakeholders for this performance and anticipates further growth in the agricultural export business as the global economy continues to open up.
“We are pleased that, in addition to other opportunities, the agro-export sector contributes significantly to job retention and creation. We will build on this year’s strong performance by looking for new and innovative ways to keep Rwanda’s agribusiness environment adaptable and competitive while drawing in the interest of international markets,” said NAEB’s Chief Executive Officer, Claude Bizimana.
Rwanda seeks to boost its agricultural export base through commodity diversification as it seeks to generate $1 billion (over Rwf1 trillion) in annual foreign agricultural revenues by 2024.