Kenya has recorded an impressive 26 per cent surge in its exports to African nations over the first seven months of 2024, driven by an increase in shipments and bolstered bilateral relations.
This economic growth has been outlined in the latest report from the Central Bank of Kenya (CBK), which was made public on Monday, marking a notable progression in Kenya’s intra-continental trade footprint.
According to the report, Kenya’s exports reached a robust Sh248.7 billion (approximately $1.93 billion) between January and July 2024, up from approximately 1.53 billion dollars during the same period last year.
The primary destinations for Kenya’s goods included Uganda, Tanzania, Rwanda, the Democratic Republic of the Congo (DR Congo), and South Africa, with each of these markets demonstrating heightened demand for Kenyan products.
Uganda remained Kenya’s top trading partner, receiving exports valued at 599.2 million dollars, followed by Tanzania with imports worth 287.8 million dollars, Rwanda at 185.4 million dollars, and DR Congo at 139.7 million dollars.
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The surge highlights the growing appetite for Kenyan goods within the continent, a demand Kenya’s trade strategists and businesses have been keen to meet.
To facilitate seamless trade across Africa, Kenya has intensified its diplomatic efforts with nations like Ethiopia, Ghana, Tanzania, South Africa, Rwanda, and Egypt, striving to eliminate trade barriers and promote economic integration.
This diplomatic push has been coupled with the introduction of a visa-free policy in January 2024, a move aligned with the objectives of the African Continental Free Trade Area (AfCFTA) and aimed at facilitating seamless business operations and greater mobility within Africa.
Kenya’s chief exports—oil and lubricants (re-exports), tea, coffee, animal products, vegetable fats, clinker, wheat flour, and a variety of manufactured goods—have continued to fuel this economic momentum.
These goods not only address critical needs across the continent but also reflect Kenya’s strengthened manufacturing and re-export capabilities, adding value to African supply chains.
Last year, Kenya saw a 21.4 per cent rise in its exports to the continent, totalling 3.05 billion dollars.
The trend, accelerated by regional trade reforms and increasing strategic partnerships, places Kenya on a promising trajectory for sustained growth within the African market.
As the nation looks to leverage its geographic and economic advantages, the continued elimination of trade barriers could pave the way for even greater trade achievements across Africa.