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Kenya’s Import Expenditure Rise By 29% in Three Months

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4 years ago

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Nairobi — Kenya’s import expenditure rose by 29 percent in the third quarter of 2021,data from the National Treasury has revealed noting that China remains the highest contributor with its earnings representing 31.6 per cent of the total bill from Asia.

Overall, Asia is the largest contributor of import expenditure with its earning standing at Sh346 billion.

Europe comes in second at Sh97 billion followed by Africa and America at Sh59.2 billion and Sh33.6 billion respectively.

Africa reported a 30.3 percent increase from Q3 2020 attributed to increased imports from Tanzania which rose from Shs 8.8 billion.

In addition, imports from Australia presented a five-fold increase, largely on account of increase in imports of grain sorghum, wheat and meslin.

The total value of export earnings similarly improved by 7.5 per cent compared to Q3 2020 with the largest portion of total revenue from exports being from the Africa continent.

Earnings from Africa was boosted by earnings from Ethiopia which more than doubled, and Tanzania which rose by 56.2 per cent, during the period under review

“This growth partly resulted from increase in the value of domestic exports of food preparations for infants to Ethiopia and electric generating sets and converters to Tanzania. However, over the same period, exports to Uganda and South Sudan shrunk by 12.7 per cent and 37.5 per cent, respectively,” the report note.

Export earnings from the European Union marginally rose by Sh0.7 billion billion, exports to Asia recorded a slight increase of 3.3 per cent while the value of exports to the United States of America rose by 31.2 percent.