Imports from the United States have nearly tripled over the nine months to September, latest official data show, leapfrogging it to Kenya’s third largest source market after India and China.
Data from the Kenya National Bureau of Statistics show Kenya has bought goods worth Sh120.41 billion from the US over the period, compared to Sh42.85 billion last year, a 181 per cent growth.
India sold goods worth Sh196.32 billion to Kenya in the period, up 3.3 per cent up, while China’s exports soared by 39 per cent to Sh178.72 billion.
Growth of imports from the US has been attributed to Kenya Airways’ acquisition of several Dreamliner planes from Boeing, and spareparts. KQ received its sixth Boeing 787 aircraft last month, pushing its fleet to 37 in an ongoing modernisation programme.
A spike in imports over the nine-month period has seen the country’s cumulative trade deficit nearly double to Sh798.24 billion, a 86 per cent jump over last year’s Sh429.19 billion.
Kenya’s total imports up to September amounted to Sh1.2 trillion against exports valued at Sh403 billion.
Monthly trade deficit widened the fastest in September at Sh119.46 billion, according to KNBS data, as exports contracted.
The country’s exports slumped by 7.9 per cent over the previous month to Sh40.47 billion from Sh43.96 billion. Imports rose by 11.1 per cent over August to Sh159.94 billion, which also set a historical record for the highest value of imports in a single month.
Exports to Uganda have reduced by 13.5 per cent to Sh34.52 billion in the nine-month period, while Tanzania’s purchases from Kenya remained flat at Sh27.28 billion. Rwanda, the only other East African country featuring among Kenya’s top export destinations, saw its imports from Kenya reduce by seven per cent to Sh8.52 billion in the period.
The USA is also Kenya’s third largest export destination, taking up with goods worth Sh28.42 billion, which saw it overtake the United Kingdom and Tanzania from the third and fourth slots respectively.
Netherlands has moved to the second largest buyer of Kenyan goods after Uganda, with worth of exports to the country rising by Sh5.44 billion in the period to Sh29.01 billion.
Tanzania remains Kenya’s fourth largest export market, while the UK has been relegated to fifth.
South Africa is the only country that features among the top 11 exporters to Kenya, with Sh46.70 billion worth of goods in the nine months, a 10.3 per cent decrease over year’s Sh52.07 billion.
The Star
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