The 2024 Economic Survey Report by Kenya National Bureau of Statistics shows that trade volume decelerated to 0.4 per cent in 2023 compared to 5.2 per cent growth in 2022.
This, the report said, was mainly due to base effects from COVID-19 pandemic recovery, US dollar appreciation, and escalation of trade barriers.
It showed that Exports grew by 15,4 per cent Sh1 trillion whilst Imports increased by 4.9 per cent to Sh 2.6trn.
Trade balance narrowed from a deficit of Sh 1.62 trn to Sh 1.60 trn while export-import cover ratio improved from 35.1 per cent to 38.6 per cent.
