Kenya's trade value dips 15.6% as tea exports drop
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Loading... - Wambui Aluoch
- 29 Mar 2022
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The volume of trade between Kenya and its key international, regional partners dropped 15.6 per cent in January as key exports of tea and coffee recorded mixed performances.
Latest Kenya National Bureau of Statistics(KNBS)–Leading Economic Indicators show the volumes’ value in the month under review dropped to Sh254.7 billion from Sh301.58 billion in December last year.
This is despite increases in exports to Netherlands, a key destination for flowers, and the UK, where value of exports increased to Sh5.3 billion and Sh4.2 billion, respectively.
This is up from Sh4.04 billion and Sh3.6 billion.
There were drops in the value of exports to the US, a major market for apparel, which fell to Sh4.5 billion from Sh4.8 billion.
Exports to Uganda and Tanzania also registered a drop with the value of goods moved to the neighbouring countries falling to Sh3.9 billion and Sh2.8 billion, from Sh5.5 billion and Sh3.7 billion respectively.
Other markets that recorded a drop in exports include UAE, Rwanda and Egypt.
Kenya however gained in the France and Germany markets, though the trade value still remains low.
The value of total exports decreased from Sh66.35 billion in December 2021 to Sh60.41 billion in January 2022, while the value of imports decreased from Sh235.23 billion in December 2021 to Sh194.27 billion in January 2022.
“Domestic exports by Broad Economic Category indicated that food and beverages was the main export category in January 2022 accounting for 46.67 per cent of the domestic exports, while non-food industrial supplies accounted for 26.52 per cent of the domestic exports,” KNBS notes.
The quantity of coffee exported increased from 2,314.35 metric tonnes in December 2021 to 3,283.60 metric tonnes in January 2022, while its value rose from Sh1.9 billion to Sh2.6 billion over the same period. Read More…
