Kenya among key global export drivers in 2030

Kenya is being touted as one of the key drivers of global trade corridors in the next decade.

According to future trade reports by Standard Chartered, Kenya is among 9 countries that will drive trade due to massive infrastructure developments and enhanced regional co-operations that are set to improve the business environment.

Global exports are projected to grow by 70 percent from the current 17.4 trillion dollars to 29.7 trillion dollars over the next decade.

Kenya is among a handful of countries that are expected to drive the global export trade, with its exports projected to grow at an average annual rate of more than 7 percent to cross 1.1 4 trillion shillings by 2030.

Pakistan will be the fastest-growing export corridor for Kenya, where it will expand by an average rate of 10.7 percent.

Uganda and the USA will continue to be the leading export corridors for Kenya, accounting for 11 percent and 9 percent of total exports in 2030, respectively.

Kenyan exports to Pakistan are expected to earn the country more than 114 billion shillings in the same period. On the other hand, Uganda will continue to be the largest export corridor for Kenya in the next decade due to strong economic ties.

Edible fats, iron and Steel goods, and pharmaceutical products are expected to drive the growth.