Kenya’s exports to Africa surge 21pc in 2023, CBK says
Kenya’s exports to other African countries rose by 21.4 per cent in 2023, reaching a new high amid sustained efforts to build ties with nations on the continent to benefit from the Continental Free Trade Area, the Central Bank (CBK) said in a new economic report released on Monday.
The exports increased to Sh396.3 billion shillings ($2.72 billion) in 2023 from $2.24 billion in 2022, the apex bank said.
Most of Kenya’s exports were sold in Uganda, Tanzania and Rwanda, with Egypt, Somalia and the Democratic Republic of the Congo emerging as new markets.
Kenya mainly exports oil and lubricants, tea, coffee, oil, animals, vegetable fats, clinker, wheat flour and manufactured goods. Kenya exported goods worth $804 million to Uganda, $424 million to Tanzania, and $309 million dollars to Rwanda, according to the bank.
The rise in exports to African countries follows Kenyan President William Ruto’s efforts to strengthen bilateral ties with countries like Uganda, Tanzania, Rwanda and Egypt. Ruto has also championed the elimination of trade barriers among African countries to ease the integration of regional trading blocs.
In January 2024, Kenya adopted a visa-free policy to ease the movement of people and goods not only from across the African continent but also globally. –
