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Browsing: Kenya National Bureau of Statistics (KNBS)
33% of manufacturers in the country plan to reduce the number of full time employees
Only 48 per cent of manufacturers in Kenya have expressed optimism that the sector would grow this year, a latest survey has revealed, as investments in the country continue to face headwinds.
According to the Q1 ‘Manufacturing Barometer’ by the Kenya Association of Manufacturers (KAM), the biggest worry by industry players over the next six months (61 per cent) is the high cost of raw materials, which is making their products uncompetitive both locally, regional and in the international markets.
About 57 per cent are worried about pressure from increased wages, 54 per cent are concerned over decreasing profitability while 48 per cent fear that taxation policies in the country will affect their businesses.
Oil and energy prices which have remained high worries 43 per cent of the surveyed manufacturers in the country, the study …
China dominates as Kenya’s top import source globally
Uganda is Kenya’s biggest trading partner within the East Africa Community (EAC), latest data show, with China dominating the global scene.
The Economic survey (2019) shows total trade volumes (import and exports) between Kenya and Uganda in the year 2018, were valued at Ksh111.3 billion (USD1.09 billion).
Tanzania comes in a distant second with a total trade value of Ksh47.6 billion (USD468.9 million) while Rwanda is third with Ksh19 billion (USD187.2 million).
Trade with DR Congo, South Sudan and Burundi, mainly export markets for Kenya, were valued at Ksh15.2 billion (USD149.6 million), Ksh12.9 billion (USD127.1 million) and Ksh6.6 billion (USD65.02 million) respectively.
Uganda
During the year under review, Uganda increased the value of its exports to Kenya by 17.6 per cent to close at Ksh49.4 billion (USD486.7 million), from Ksh42 billion (USD413.8 million) in 2017.
READ:Uganda keen on enhancing exports to
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The economy generated 840,600 new jobs compared to 787,800 in 2017
Kenya’s economy expanded by 6.3 per cent in 2018, the economic survey released on Thursday indicates, a notable comeback from a 4.6 per cent growth recorded the previous year.
This came as the country recovered from the effects of the persistent drought experienced in 2017, coupled with uncertainties associated with general elections held in the same year.
READ:Kenya’s economy falls below Tanzania and Rwanda, records 4.9% growth
The growth has principally been attributed to increased agricultural production, accelerated manufacturing activities, sustained growth in transportation and vibrant service sector activities.
“Agricultural activities benefited from sufficient rains that were well spread throughout the country,” Kenya National Bureau of Statistics (KNBS) Director General Zachary Mwangi said during the launch of the Economic Survey (2019) in Nairobi.
Similarly, the increased precipitation was a significant boost to electricity generation and consequently favourable …