Kenya Strengthens Intra-African Trade with Record Export Growth

Kenya’s trade with other African countries grew by 26% in the first seven months of 2024 compared to the same period in 2023, according to a recent report by the Central Bank of Kenya. This surge, largely fueled by strengthened bilateral agreements and increased shipments, saw Kenya’s exports jump from $1.53 billion to approximately $1.93 billion. Key export markets included South Africa, the Democratic Republic of the Congo, Uganda, Tanzania, and Rwanda, with high demand for products like tea, coffee, oil, livestock, and manufactured goods. Kenya’s top export destinations within East Africa were Uganda, Tanzania, and Rwanda, with goods valued at $599.2 million, $287.8 million, and $185.4 million, respectively. Nairobi also exported goods worth $139.7 million to the DRC. The country, which is also strengthening ties with countries like Ethiopia, Ghana, and Egypt, remains committed to reducing trade barriers and boosting economic integration within Africa.

SOURCE: BUSINESS INSIDER