Browsing: Kenya Exports

Kenya’s economic activity increased marginally in July from the previous month, a new survey has revealed.

The survey also found that domestic demand improved by the second slowest pace since the lifting of public health restrictions after the first wave of pandemic, with some firms reporting a drop in customer numbers.

The survey was commissioned by and compiled by IHS Markit from responses to questionnaires sent to purchasing managers in a panel of around 400 private sector companies in the country.

It also reveals that growth momentum in the private sector slowed again at the start of the third quarter of the year, as surveyed businesses reported weaker expansions in output, new orders, employment and purchasing.

At the same time, cost inflationary pressures rose to a 16-month high as tax changes resulted in a sharp uptick in purchase prices.

This led to a decline of the headline Purchasing Manager’ Index …

Exports of goods from Kenya remained strong, growing by 11.1 percent in the first half of 2021 compared to a similar period in 2020.

This is according to fresh data by Central Bank of Kenya which indicates that receipts from exports of horticulture and manufactured goods rose by 29.4 percent and 45.2 percent, respectively, in the first half of 2021 compared to a similar period in 2020.

However, receipts from tea exports declined by 5.5 percent, partly due to the impact of accelerated purchases in 2020.

Travel and transport receipts continued to recover in 2021 with the resumption of international travel.

Remittances were robust at USD305.9 million in June 2021, and were 20.4 percent higher in the first half of 2021 compared to a similar period in 2020.

The value of Export of Goods and Services Increase By 9.8%

More findings

Separate data released earlier this month by Deloitte revealed …