Pakistan Becomes Top Earner of Kenya, Overtakes US
In 2023, Pakistan became one of Kenya’s leading sources of export revenue, surpassing traditionally dominant markets such as the United States of America.
As per the Central Bank of Kenya’s Monetary Policy Statement report, the value of Kenya’s exports to Pakistan in the previous year was approximated to be Ksh80 billion (equivalent to USD 560 million).
Significantly, there was a rise in earnings compared to those generated in both 2022 and 2021.
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In the year 2021, the exports to Pakistan totaled Ksh69 billion (equivalent to USD484 million), and in 2022, these numbers increased to Ksh78 billion (USD544 million).
On the flip side, there was a notable decline in trade with the United States in 2023. The figures reveal that Kenya’s exports to the US amounted to Ksh66 billion (USD461 million) in 2023, marking a decrease from Ksh97 billion (USD678 million) in 2022.
In the year 2021, the worth of exports to the United States amounted to Ksh78 billion, equivalent to USD 543 million.
The Tea Factor
In recent years, Pakistan has become the biggest market for Kenyan tea.
As per Contago, a software trading firm, Kenya generated Ksh200 billion from global tea exports in 2022, with Pakistan being the primary source of this revenue.
“Kenya follows as the second-largest tea exporter, with exports worth around $1.39 billion. Kenya’s tea industry is a critical component of its economy, and the country is renowned for its robust, aromatic black teas, which are highly sought after worldwide,” the company reported.
At the same time, the primary goods that Kenya predominantly exports to the United States include apparel, coffee, Macadamia nuts, and tea.
Uganda’s Dominance
Kenya continues to export its goods predominantly to Uganda, maintaining Uganda’s status as the primary destination for Kenyan exports.
In 2023, Kenya’s exports to its neighboring nation amounted to Ksh131 billion (USD914 million), indicating a rise from the Ksh117 billion (USD817 million) recorded in 2022.
In the year 2021, the value of exports amounted to Ksh119 billion, equivalent to USD 830 million.
Kenya primarily exports steel products, fuel items, and agricultural products to Uganda.
In contrast, the worth of exports to Tanzania in 2023 amounted to Ksh70 billion, equivalent to USD 488 million.
Pakistan Becomes Top Earner of Kenya, Overtakes US
