Browsing: Kenyan exports

• The PMI Survey has found that Kenyan businesses witnessed increased demand for their exports in the international market in November 2022
• New order inflows received by Kenyan businesses rose in November, extending the current growth sequence to three months
• Although marginal in November, the rate of employment growth was the quickest since July 2022, attributable to a rise in new orders

Kenyan businesses witnessed increased demand for their exports in the international market in November 2022. This is according to the latest Purchasing Managers’ Index (PMI) commissioned by Stanbic Bank Kenya. The index found that the rise in export orders strengthened further from October figures, having increased in each month since April 2022.

At the same time, new order inflows received by Kenyan businesses rose in November, extending the current growth sequence to three months. The rate of increase accelerated from the previous survey period and was modest but slower …

Kenya is benefiting from a shift in US foreign policy towards Africa as the global economic giant scales up its presence on the continent to counter rising Chinese influence. China has grown into Kenya’s biggest bilateral lender and source of imports, which grew 9.0 per cent to Sh227.9 billion and accounted for 18.2 per cent of the total import bill in the six-month period.

Kenya is among African nations benefiting from a U.S. shift in foreign policy as it scales up its presence on the continent. The U.S. trade office said the two countries are developing a road map of engagement in agriculture, digital trade, customs procedure and other areas.

However, according to an article by The East African dated September 24, 2022,  American technology giants want the Biden administration to compel the Kenyan government to abolish the digital services tax (DST) as a condition for a new trade deal.…

• Kenya’s export value increased by 17 per cent in 2021 to hit KSh 666.7 billion (US$ 5.5 billion) compared to KSh 567.4 billion (US$ 4.7 billion) in 2020
• Data from the Kenya Trade Network Agency (KenTrade) Business Intelligence Tool shows that the increase was influenced by earnings from top agricultural products (tea and horticultural products)
• The export volumes increased from 643.7 billion tonnes to 743.7 billion tonnes in 2021 with improved exports in clothing accessories and agricultural products