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Kenya Exported Goods Worth Sh66.1 Billion to The U.S

BY Soko Directory Team · November 5, 2019 09:11 am

Kenya exported goods worth 66.1 billion shillings to the United States in 2018.

The value of goods exported to the US by Kenya recorded a significant increase in 2018 as compared to 2017 which stood at 58.8 billion shillings.

Based on the value of goods exported to foreign countries by Kenya, the US is ranked as the third destination after Uganda and Pakistan which come first and second respectively.

The value of goods exported to the US by Kenya in 2018 accounted for about 7.9 percent of the total exports.

The value of imports to Kenya by the US depreciated to 31.5 billion shillings in 2018 compared to 2017 where it stood at 42.9 billion shillings.

President Uhuru Kenyatta said that Kenya and the US have very strong economic ties that will go beyond the US’s treaty with African nations.

President Uhuru said these when he opened the two-day American Chamber of Commerce Summit which kicked-off yesterday (04, November) in Nairobi.

POTUS Meets President Uhuru
President Uhuru Kenyatta (Kenya) with President Donald Trump (United States of America) at White House in a past function.

 

President Uhuru further commended the role of the African Growth and Opportunity Act (AGOA) has played in developing and improving the Kenyan economic market.

”AGOA has been successful in straightening Kenya’s economic market. I thank and ask the private sector to be key to developing this relationship further,” He said.

“We invite you to partner with us and work together in pushing our social and economic development forward,” President Uhuru added.

US ambassador to Kenya Kyle McCarte said the US will continue to support African countries even after AGOA expires in 2025.

‘The legislation, which removed all tariffs on 6,400 products available for export to the US, helped to move the US-Africa relationship from aid to trade, from donor-recipient to one of mutual benefit and gain,” McCarte said.

Mccarte said that at least eight counties are going to benefit from export promotion credit by some American businesses. The eight counties will get 40 billion shillings in credit to promote their exports.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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