Kenya Economy 6-4-24

Nominal GDP, $112.749B, Per capita, GDP $2,118, Population 55,100,586, Debt to GDP 67.0%

Inflation 20.4%, Unemployment 5.6%, Labor force participation 73.7%, Land area 224,961 sq miles, Arable land 48%, Urban 28.5%, Rural 71.5%, Exports $7.6B Imports $18.59B, Trade Deficit $10.99B, 

Kenya's exports reached $7.6B in 2023, up from the 5.95 billion dollars recorded in 2022.

In 2023, goods worth around $18.59B were imported to Kenya

Exports include Agricultural products, horticultural and tea being the most important. Other export items include textiles, coffee, tobacco, iron and steel products, petroleum products, cement.

Imports include machinery and transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics. Kenya main import partners are India, China, UAE, South Africa, Saudi Arabia, United States and Japan.

Problems in Kenya include the high cost of living and unemployment. Kenya is too dependent on agriculture for export.

The National Ethics and Corruption Survey, 2023, said 50.6 per cent of the respondents named the high cost of living as the major problem facing the country. Unemployment came in second with 46.3 per cent of the respondents naming it as the second major problem facing the country.

Comments

Kenya’s Trade Deficit is $10B and is too high.

Norb Leahy, Dunwoody GA Tea Party Leader