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BI - Business Intelligence - Essay Example

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Majority of Rwanda’s citizens are engaged in subsistence production. According to the latest census in Rwanda, its total population is around 10.6 million (King, 2007). Some of the factors that hinder economic growth in…
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Business Intelligence al Affiliation) Business Intelligence Country overview The economy of Rwanda is mainly based on Agriculture. Majority of Rwanda’s citizens are engaged in subsistence production. According to the latest census in Rwanda, its total population is around 10.6 million (King, 2007). Some of the factors that hinder economic growth in Rwanda include the needs of its population as well as lack of access to the sea. This means that it is hard for Rwanda to ferry their goods to the over sees markets. Rwanda’s major cash crops include coffee, tea, in addition to pyrethrum (Ikeno, 2007).
Every year, the value of Rwanda’s imports is usually more than what it earns from exportation of their goods. Rwanda’s main imports include foodstuffs, steel, machinery and equipment, construction as well as petroleum products. Their main trading partners include Kenya, Germany, China, and Belgium. GDP (PPP): $16.4 billion, 5.0% growth, 6.9% 5-year annual growth, and $1538 per capita. The rate of unemployment I Rwanda is 0.6%, inflation 4.2 %. Rwanda’s major industries are industries that process their agricultural produce for export to the foreign markets. In the past five years, Rwanda’s economic freedom has increased by 2.1. This has been contributed by 20-point improvement from corruption 15-point freedom investment (Rwanda, 2014).
Country’s score for the past 5 years
Internet usage
One of the key factors that have greatly contributed to fast growth of this country’s economy is the internet use in both local as well as international trade. Most of their imports especially construction and petroleum materials are ordered via the internet. They also get international markets for their products through internet use (Aspray, 2008).
Online purchasing
Rwanda has established several shopping sites that are used for local and international trade. Examples of these online sites include Gemeya.com, Gurisha.com, Shop4rwanda.com, Comfort Rwanda, and Beautyofrwanda.com. These sites are important to Rwanda’s economy because they are able to sell and buy via these sites and it saves time. These sites are affordable for most citizens and fewer restrictions are placed on their use (Black, 2002).
After goods have been purchased online and imported to Rwanda, there are different taxes that the owner of purchased goods is supposed to pay. For goods like vehicles that have been purchased online, the owner is supposed to pay four types of taxes: value added tax (VAT) 18%, customs duty 25%, withholding tax 5%, and consumption tax that has different rates.
Conclusion comments
Uses of technology in business are important because transactions are done within a short time. It is important for fast growth of a country’s economy because trading with over sees countries is easy and efficient. More countries should use the internet in purchasing and selling of goods and services locally and internationally. Apart from saving time, the geographical distance cannot be a limiting factor to carry out transactions.
References
King, D. (2007). Rwanda. New York: Marshall Cavendish Benchmark.
Ikeno, J. (2007). African coffee economy at the crossroads: The cases from Tanzania, Ethiopia, & Rwanda. Kyoto: Center for African Area Studies, Kyoto University.
Rwanda. (2014). Washington: International Monetary Fund.
Aspray, W. (2008). The Internet and American business. Cambridge, Mass.: MIT Press.
Black, S. (2002). Telecommunications law in the Internet age. San Francisco: Morgan Kaufmann. Read More
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