Browsing: imapct of war in Ukraine to Kenya

Businesses in Kenya see mild rise in activity despite loss of momentum in October
  • A new report by Knight Frank indicates that the ongoing war in Ukraine will affect Kenya’s overall gross domestic product in 2022 
  • According to the Half-year report, Kenya’s gross domestic product is projected at 5.5 per cent in 2022, lower than last year’s 7.5 per cent
  • While Kenya has no significant direct trade with Russia and Ukraine, its exposure – as a net fuel, wheat, and fertiliser importer – to the global price impacts of the Russian invasion of Ukraine remains telling

Kenya’s gross domestic product is projected at 5.5 per cent in 2022, lower than last year’s 7.5 per cent, owing to persisting drought and Russia’s invasion of Ukraine.

According to a Knight Frank finding, Kenya has no significant direct trade with Russia and Ukraine. In fact, only  2.1 per cent of Kenya’s trade between 2015 and 2020 was from Russia and Ukraine combined.

Nevertheless, the report noted that …