Kenya’s Trade Deficit Widens as We Continue to Buy More Than What We Sell

Kenya’s trade deficit with other countries continued to widen for the last 10 months of the year 2018 with the country importing more than what she exported.

According to stats, Kenya imported goods worth nearly one trillion shillings during the 10 months period, a huge difference from the number of goods she exported.

The country imported goods worth 997.1 billion shillings and only managed to export goods worth 291 billion shillings during the same period.

In 2017, Kenya imported goods worth 989.8 billion shillings compared to exports that stood at 281.4 billion shillings.

The trade deficit now stands at 715.7 billion shillings in 2018 from 708.4 billion shillings in 2017.

Kenya’s exports during the period grew by 5 percent to 295.6 billion shillings from 281.4 billion shillings recorded in 2017.

Kenya imported more from China than from any other country in 2018. The imported goods included machinery as well as transport equipment that accounted for 291.8 billion shillings.

Kenya also imported more from India with goods that came in being worth 161.2 billion shillings, Saudi Arabia with goods worth 138.4 billion shillings and United Arabs Emirates with goods worth 126 billion shillings.

Good from Japan to Kenya stood at 78 billion shillings, those from South Africa at 54 billion shillings while those from the United States of America were worth 46.3 billion shillings.

Germany, the United Kingdom, and the Netherlands sold to Kenya goods worth 39.6, 26 and 16.6 billion shillings respectively.

Pakistan was the biggest buyer of Kenyan products, mainly tea, coffee and flowers worth 50.2 billion shillings followed by Uganda who bought goods worth 42.2 billion shillings, US bought goods worth 39.5 billion shillings while the Netherlands and the United Kingdom bought goods worth 38.9 and 37 billion shillings respectively.