As President Paul Kagame continues his global tours, the economics at home is not good. Currently, the global-trotting head of state is in South Korea, having left Rwanda on 19 October 2014 for London events. Thereafter he briefly touched down in Abu Dhabi, before heading for the Far East in Busan City, Korea, where he was sighted on 27 October – 10 days since the gentleman left Rwanda.
Meanwhile the news on Kagamenomics is not good. Rwandan exports continue to shrink, while imports continue to expand.
Total exports from January to September 2014 were worth US$247million, a 10.5% drop of exports in the same period last year that amounted to US$276million.
Total imports from January to September 2014 were valued at US$1.7billion, up from US$1.6billion, or 9% increase over the same period in 2013.
In a nutshell, in Kagamenomics, Kagame is flying high, imports into Rwanda flying high, but Rwandan exports are crash-landing.
Dr David Himbara