The World Bank reported that AfCFTA could lift 30 million Africans out of extreme poverty, increase income by US$ 450 million, increase intracontinental exports by 81% (with manufacturing increasing by 62%), and protect the continent from external shocks.
Kenya exported 35% of its products to fellow African countries, while the remaining 65% was shipped to the international market, between 2011 to 2020.
The member states of the East Africa Community, Tanzania and Uganda in particular, make up 28% of total exports; the remainder of Africa, led by Egypt, a COMESA member where Kenya is a member of the regional market, accounts for 7%. During the period under review, said exports went to the United States of America, Pakistan, United Arab Emirates, The Netherlands, and the United Kingdom.
China is the largest market for imports in Kenya, accounting for 18.2% of total imports between 2011 and 2020. India comes in second with 13.2%, the UAE with 8.4%, and Japan with 5.3%. Only three of the top 24 import markets; Tanzania, Egypt, and Uganda performed a little over inadequate for Kenya’s imports, accounting for just 4.7% of total imports.