Concern As Kenya’s Exports to Uganda Drop by Ksh2 Billion – KNBS
Amid trade and diplomatic tensions with East African counterparts, recent data from the Kenya Bureau of Statistics (KNBS) unveiled on January 8th reveals a significant drop of Ksh2 billion in Kenya’s exports to Uganda in October 2023 compared to the preceding month. This downward trend persisted through December.
Kenya failed to reach the Ksh9 billion mark for the first time since January 2023, prompting concerns that the strained relationships with neighboring countries could be a contributing factor to this situation.
In August, Kenya’s export value stood at Ksh10 billion but subsequently dropped to Ksh8 billion for two consecutive months.
Even though there was a decrease of Ksh2 billion, Uganda continued to be Kenya’s primary trading partner for exports, with Pakistan following closely in second place with Ksh8.08 billion.
In Tanzania, a country that has experienced recent disagreements in development with Kenya, the export figures decreased from Ksh5.8 billion to Ksh5.1 billion in the period between October and November 2023.
Kenya managed to offset the shortfall resulting from decreased exports to Uganda and Tanzania by experiencing a boost in trade with Pakistan, resulting in a Ksh2 billion rise during the corresponding period.
Kenya experienced a rise in export quantities to nations such as Germany, Rwanda, the Netherlands, and the United Arab Emirates.
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Trade with Germany experienced a significant increase, rising from Ksh899 million to Ksh934 million. Additionally, exports directed to Rwanda saw a notable surge, climbing from Ksh3.0 billion to Ksh3.4 billion.
In October 2023, Kenya shipped goods valued at Ksh5.1 billion to the Netherlands, and this figure saw a gradual rise to Ksh5.2 billion in the following month. Concurrently, exports to the UAE surged from Ksh3.2 billion to Ksh3.7 billion during the same timeframe.
During the identical timeframe, Kenya experienced a decline in its export transactions with the United Kingdom, Egypt, the United States, and France.
Kenya primarily exported food and beverages, industrial supplies, and consumer goods as part of its major trade items.
Additional items sent overseas encompassed fuel and lubricants, machinery, as well as other essential capital equipment and vehicles.
In November 2023, Kenya, as a predominantly agricultural nation, depended significantly on the export of food and beverages, constituting 43 percent of its overall export volume.
Concern As Kenya’s Exports to Uganda Drop by Ksh2 Billion – KNBS