Oct 18, 2021

Mawazo Writing Africa

Writing about the main

Kenyan exports to bloc rise by $160m

Kenya’s exports to the East African Community rose from Ksh 140.4 billion ($ 1.28 billion) in 2019 to Ksh 158.3 billion ($ 1.44 billion) in 2020, the equivalent of 64 , 3 percent of the country’s total exports to Africa, data from Das shows the 2021 economic study by the National Bureau of Statistics of Kenya.

Uganda was the largest export destination for Kenyan goods with 29.3% of total exports to Africa. South Sudan’s export revenue nearly doubled from Ksh 12.6 billion ($ 114.6 million) in 2019 to Ksh 23.2 billion ($ 211.1 million) in 2020, while exports to Rwanda rose by 8.8%.

Combined exports to Uganda, Rwanda and South Sudan amounted to 120.6 billion Ksh (1.09 billion US dollars) in 2020, a growth of 20, 8 percent up from 99.9 billion Ksh (909 million US dollars) in 2019. Trade with Ethiopia and Sudan also grew significantly, by 32.4 percent and 42 percent, respectively, in 2020, to Kenya’s export earnings from the two countries to 17.7 billion Ksh (161 million US dollars).

Kenya’s export earnings from the EAC increased by 12.7 percent to 158.3 billion Ksh (1.44 US dollars). Billion) in 2020 from 140.4 billion Ksh (1.28 billion US dollars) in 2019. Growth was increased from 6, despite a 0.2 percent decline in real GDP of the East African Community in 2020. 2 percent observed in 2019.

Contribution of the pandemic

“Covid-19 impacted the EAC in many ways and had a negative impact on tourism income, e.g. rising commodity prices and declining financial flows, causing budget and current account balances to deteriorate. In addition, interruptions in the supply chains had an impact on food production and trade in the region, “the survey said.

Inflation rose from four percent in 2019 to 4.5 percent in 2020, partly due to currency devaluations and price increases in imported food. The current account deficit widened from 5.2 percent in 2019 to 5.7 percent in 2020, partly due to low export demand and the decline in remittances.

Tanzania’s real GDP grew by 2020 Percent, which was much slower compared to 7 percent in 2019. Rwanda’s economy contracted 0.2 percent in 2020, compared to 9.4 percent growth in 2019, while Uganda’s economy contracted 2.1 percent in 2020 after 2019 grew by 6.7 percent. Uganda’s inflation rate was 3.8 percent in 2020 compared to 2.9 percent in 2019.

Kenya’s exports to Africa rose 9.8 percent to Ksh 246.1 billion (2.24 billion US Dollars) of Ksh 224.2 billion (US $ 2.04 billion) in 2019.

Although trade with its East African counterparts and the rest of Africa is significant in 2020 despite the restrictions of Covid-19 has grown, the same cannot be said about Kenya’s trade with other parts of the world.

The value of exports to America, for example, fell from K $ 56.1 billion ($ 510.7 million) ) in 2019 to 52.3 billion Ksh (475.7 million US dollars) in 2020. Specifically, export revenues to the USA went from 51.9 billion Ksh (472 million US dollars) in 2019 to 49.4 Billion Ksh ($ 449 million) returned. in 2020.

The total value of exports to Asia increased only slightly from 156 billion Ksh (1.4 billion US dollars) in 2019 to 157.6 billion Ksh (1.43 billion US dollars ) in 2020.