Africa-Press – Rwanda. From 2021 to 2024, trade between Rwanda and China more than doubled, increasing from $742 million to $1.76 billion — a 137% rise — while Rwanda’s exports to China, surged from just $16 million to $108 million, a significant 575% spike.
At the same time, Rwanda’s total exports increased from $1.4 billion to $2.5 billion, a 75% rise, indicating that China is outpacing other trade partners in growth.
China also became the top foreign investor in Rwanda, with over $300 million in active investments and more than 18,000 full-time jobs created. These figures were highlighted, on May 16, by the acting Chargé d’Affaires, Lin Hang, Counsellor Gao Zhiqiang, and the Director at the Embassy of China in Rwanda, Zhang Xiaohong, during a press conference held at the Chinese Embassy in Kigali.
According to Rwanda Development Board, between 2021 and 2024, China invested $260 million more than the second-ranking country – India – and led in the number of projects by around 30%. Chinese companies are now spread across sectors such as agriculture, mining, education, healthcare, real estate, and digital technology, signalling not just increased activity, but deep strategic interest in Rwanda’s economy.
Xiaohong explained that Rwanda’s trade with China grew at a faster pace than its overall global trade. From 2021 to 2024, bilateral trade more than doubled, rising from $742 million to $1.76 billion.
He emphasized that this 137% growth highlights the deepening economic engagement between the two countries, noting that the exceptional rise in exports specifically going to China, including Hong Kong, where numbers grew over fivefold, from $16 million in 2021 to $108 million in 2024.
“If we get down to the facts and figures, we can see that our partnership is not symbolic but practical and expanding because in 2024 alone exports to China increased by 29,5%, which shows that the growth trends remain strong,” he said.
“Based on what I know, Chinese enterprises in Rwanda now have maintained investments of over US$300 million and provided more than 18,000 full-time jobs, and this reflects China’s growing role as a priority market for Rwandan goods.”
Referring to data from Rwanda Development Board, he explained that China was the top source of foreign investment over the past five years, and during the 2021–2024 period, it led by a margin of $260 million ahead of India.
“China ranks first, surpassing the second place by approximately US$260 million. In addition to investment volume, China has also had the highest number of investment projects in Rwanda, exceeding the second place by about 30 per cent,” he stated.
Beyond trade and investment volumes, Xiaohong emphasized the diversity of Chinese investments in Rwanda. He noted that Chinese companies are not focused on a single sector but are spread across more than a dozen industries in education, healthcare, agriculture, digital technology, media, real estate, food, chemical engineering, textiles, mining, and retail services. This diversification signals not just capital inflow but long-term strategic engagement, he said.
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