Xifres de comerç exterior de Kenya

Foreign Trade in Figures

Kenya is largely open to foreign trade, which accounts for 27% of its GDP (World bank, 2020). The country remains committed to trade liberalization through its membership in the World Trade Organisation (WTO), the Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC), which includes Kenya, Tanzania, Uganda, Rwanda, Burundi, and South Sudan. The EAC is in the process to establish a monetary union by 2024. The EAC also finalized the negotiations for an EPA with the EU in 2014, an agreement ratified by Kenya in 2016. Kenya also ratified the African Continental Free Trade Agreement and signed many bilateral trade agreements. The country is currently negotiating a free trade agreement with the United States, and is one of the top five beneficiaries of the US-Africa trade initiative, the African Growth and Opportunity Act (AGOA). Most tariff barriers have been eliminated and customs duties are not very high. Kenya mostly exports agricultural products (tea, flowers, coffee, fruits, and vegetables), petroleum oils, titanium ores, and medicines; and mainly imports petroleum products, palm oil, medicines, cereals, vehicles, and manufactured products.

The country's main customers are Uganda, Pakistan, the United Kingdom, the United States, the Netherlands and the United Arab Emirates. Its main suppliers are China (22% of total imports), India, the United Arab Emirates, Japan, Saudi Arabia, Indonesia and the United States.

Kenya imports almost three times more than it exports, which translates into a trade balance that is largely in deficit. This situation persists, due to imports related to infrastructure modernization and oil exploration. In 2020, the trade deficit amounted to USD 9.4 billion (WTO). Total goods exports reached USD 6.03 billion whereas total goods imported amounted to USD 15.44 billion. The bill of import of services amounted to USD 3.33 billion while the export of services generated around USD 3 billion. In 2020, despite the COVID-19 crisis, the external sector proved resilient. Reduced services surplus was mitigated by lower imports due to weaker domestic demand. In 2022, merchandise exports should benefit from the strong demand for fruits and vegetables while services exports should increase noticeably with the slow return of tourists (Coface).