Kenya's trade deficit rose to KES 108 billion in November 2019 from KES 102 billion in the same month a year ago. Imports rose 5.9 percent year-on-year to KES 159.41 billion, amid higher purchases of machinery & transport equipment (29.6 percent); manufactured goods (3.4 percent); food & live animals (8.5 percent); animals and vegetable oils & fats (4.2 percent) and crude materials (15.2 percent). Still, decreases were recorded for mineral fuels, lubricants & related (-17.9 percent) and chemicals (-1.1 percent). Meantime, exports rose 7.5 percent to KES 51.94 billion, boosted by sales of horticulture products (34.8 percent). In contrast, lower shipments were recorded for tea (-2.1 percent) and coffee (-29.1 percent), amid poor harvests due to prolonged drought. Balance of Trade in Kenya averaged -45942.21 Million KES from 1998 until 2019, reaching an all time high of -2175 Million KES in June of 1999 and a record low of -119463 Million KES in September of 2014. source: Central Bank of Kenya
Balance of Trade in Kenya is expected to be -83000.00 Million KES by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Kenya to stand at -73000.00 in 12 months time. In the long-term, the Kenya Balance of Trade is projected to trend around -87000.00 Million KES in 2020, according to our econometric models.
Kenya Balance of Trade
Agricultural products are central to Kenya's export industry with horticultural and tea being the most important. Other export items include textiles, coffee, tobacco, iron and steel products, petroleum products, cement. Kenya main exports partners are UK, Netherlands, Uganda, Tanzania, United States and Pakistan. Kenya imports mostly machinery and transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics. Kenya main import partners are India, China, UAE, South Africa, Saudi Arabia, United States and Japan.