Kenya has experienced a hike in trade surplus in the past few months as a result of increased exports and a decline in import expenditure for the last 12 years, according to the central bank report. This surplus has been occasioned by the increased trade partnership and integration between Kenya and the East African countries. Uganda remains Kenya’s top export destination in Africa, accounting for around 33.3% of Kenya’s total exports to Africa.
Kenya exported goods worth Kshs 30.96 billion to Uganda in the first quarter of 2023, which is a growth compared to the previous period, with the leading exports to the country being vegetable oils, pharmaceuticals, fuel, and steel. Kenya also recorded increased exports to Tanzania in the same period. Generally, Kenya exports agricultural products such as tea, coffee, tobacco, and pyrethrum, with tea leading the list.
The efforts by President William Ruto to bring integration among the African countries, especially the east African region, have seen Kenya’s exports shoot to high levels, as statistics show. The president called on the member states of the east African community (EAC) while speaking during the launch of flagship report last month to ease barriers to allow free movement of people so as to facilitate trade.
Kenya’s total exports to the African region accounted for Kshs 160.57 billion in the first quarter of 2023, which was also an improvement from the previous quarter. The Presidents endeavour to unite the East African region will see trade improve in the region in the coming years while strengthening diplomatic ties in the region.
