Kenya's trade deficit rose to KES 113 billion in December 2019 from KES 83 billion in the same month a year ago. It was the largest monthly trade shortfall since May 2018, as imports surged 23% year-on-year to KES 155.31 billion, boosted by purchases of machinery & transport equipment (41%); manufactured goods (10%); chemicals (16%); food & live animals (29%); animals and vegetable oils & fats (41%) and crude materials (35%). Among major import partners, acquisitions grew from the UAE (136%) and India (8.7%), but declined from Saudi Arabia (-11%) and South Africa (-33%). Exports fell 2.8% to KES 43 billion, dragged down by lower shipments of coffee (-27%) and tea (-3 %), amid persistent unfavourable weather conditions. In contrast, external sales rose for horticulture products (3.2%). Among major export partners, sales shrank to Pakistan (-4.1%) while they rose to Uganda (1.5%) and the US (11.5%).
Balance of Trade in Kenya averaged -46188.99 Million KES from 1998 until 2019, reaching an all time high of -2175 Million KES in June of 1999 and a record low of -119463 Million KES in September of 2014. This page provides the latest reported value for - Kenya Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Central Bank of Kenya
Balance of Trade in Kenya is expected to be -82000.00 Million KES by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Kenya to stand at -105300.00 in 12 months time. In the long-term, the Kenya Balance of Trade is projected to trend around -111900.00 Million KES in 2021 and -116000.00 Million KES in 2022, according to our econometric models.