• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home highlights

Kenya’s trade deficit widens on fuel, manufactured goods imports

4 years ago
in highlights, Home, home-news, latest News, Trade
1 min read
0 0
0
36
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Kenya’s trade deficit widened by 13.49 percent in the first two months of the year, largely on increased expenditure on manufactured materials and fuel imports.

The trade deficit — the gap between imports and exports — increased to Sh198.64 billion ($1.8 billion) from Sh175.03 billion ($1.6 billion) a year ago amid reduced disruptions in global supply chains and increased cost of shipping in fuel.

The value of imports rose 10.78 per cent to Sh320.45 billion between January-February 2021, provisional trade data published by the Central Bank of Kenya (CBK) suggests a higher growth than 6.63 per cent to Sh121.81 billion for exports.

A persistently higher trade deficit, economists say, slows down the creation of new job opportunities for the growing skilled youth as most revenue earned within Kenya is spent on buying goods from foreign factories, raising production and job openings in source markets.

A widening deficit in goods trade also piles some pressure on the shilling as the demand for dollars remains elevated.

The CBK in March attributed the narrower gap to a lower import bill for “machinery and transport equipment as well as improvement in tea and horticultural exports and remittance receipts”.

Kenya has struggled to diversify its exports away from traditional tea, horticulture and coffee, which are largely sold raw, exposing its farmers to price shocks in international commodity markets.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

The trade data, collated by the CBK, shows imports were largely lifted by increased expenditure on shipping in manufactured materials and chemicals, while earnings from exports were driven by horticultural sales.

Earnings from horticultural exports — cut flowers, vegetables and fruits — expanded 18.90 per cent to Sh25.86 billion in the two months, making up a fifth of total exports compared with 19.04 per cent in the prior year.

Tea and coffee exports, on the other hand, rose 7.62 and 4.85 per cent, respectively, to Sh23.1 billion and Sh3.61 billion.

Source: businessdailyafrica
Via: norvanreports
Tags: Central Bank of Kenya (CBK)expenditure on manufactured materials and fuel importsKenya’s trade deficit
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.