Containers Being Offloaded From a Ship at the Port of Mombasa
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China remains Kenya's primary source of imports despite efforts by President William Ruto to strengthen ties with Western nations.
This is according to recent data from the Kenya National Bureau of Statistics (KNBS). The trade figures for the first quarter of 2024 highlight Kenya's continued reliance on Chinese and Asian goods. In the period from January to March 2024, Kenya imported goods valued at Sh126.1 billion from China, solidifying its position as the country's top import partner. This figure, however, represents a decline from the previous quarter's Sh134.1 billion. The persistent appeal of affordable household items and other merchandise from China continues to drive this trade relationship.
India secures the second position among Kenya's import partners, contributing goods worth Sh72 billion during the same period. This figure shows a slight decrease from the preceding quarter but still signifies India's substantial role in Kenya's import landscape. The United Arab Emirates (UAE) follows closely, primarily supplying petroleum products to Kenya allocating Sh67 billion for imports from this Middle Eastern nation. Rounding out the top five import sources are Malaysia and the United States.
Kenya spent Sh42.8 billion and Sh41.1 billion on imports from these markets, respectively. Other significant contributors to Kenya's diverse import portfolio include Oman, Japan, South Africa, Belgium, and neighbouring Tanzania. The overall trade volume for the first quarter of 2024 reached Sh981.8 billion, marking a 19.4% increase compared to the same period in 2023. This growth was driven by a 28.0% rise in total exports and a 16.0% increase in imports. However, Kenya's trade deficit worsened, expanding to Sh386.1 billion from Sh357.0 billion in the previous year.
A regional breakdown of Kenya's imports reveals Asia's continued dominance with Kenyan traders and the government spending Sh438.9 billion on goods from this region. The Middle East, primarily represented by the UAE, accounted for Sh126 billion in imports. European imports totalled Sh106.3 billion. Despite being Kenya's largest export market, Africa also contributed Sh71.9 billion to Kenya's import bill. The Americas, including Canada and Brazil, accounted for Sh65.1 billion in imports.
Africa remains the country's primary export destination, with earnings growing to Sh113.9 billion. The Far East, where Kenya has expanded its agricultural exports, including the popular Kenyan avocados, generated Sh80.3 billion in earnings. Exports to Europe increased to Sh75.9 billion, highlighting the importance of cut flowers and agricultural products in Kenya's export portfolio. The Middle East also saw a rise in exports, reaching Sh23.6 billion.
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What happened to local manufacturing & investors???
Comrades,
It's a well documented fact.
If only we could could get our house straightened out.
We produce, sell then rebuy what we should have consumed from the get go.
I don't think economics are that hard.