Pakistan emerged among the top export earners for Kenya in 2023, surpassing dominant markets like the United States of America.
According to the Monetary Policy Statement report released by the Central Bank of Kenya (CBK), Kenya's exports to Pakistan last year were estimated at Ksh80 billion (USD560 million).
Notably, this marked an increase from earnings made in 2022 and 2021.
In 2021, exports to Pakistan amounted to Ksh69 billion (USD484 million), while in 2022, the figures rose to Ksh78 billion (USD544 million).
Conversely, trade with the US recorded a significant drop in 2023. According to the data, Kenya earned Ksh66 billion (USD461 million) from exports to the US in 2023 as compared to Ksh97 billion (USD678 million) in 2022.
In 2021, exports to the US were valued at Ksh78 billion (USD543 million).
The Tea Factor
In recent years, Pakistan has become the biggest market for Kenyan tea.
According to software trading company, Contago, Kenya, in 2022, earned Ksh200 billion from tea exports across the globe with Pakistan being the largest contributor of the earnings.
"Kenya follows as the second-largest tea exporter, with exports worth around $1.39 billion. Kenya's tea industry is a critical component of its economy, and the country is renowned for its robust, aromatic black teas, which are highly sought after worldwide," the company reported.
Meanwhile, Kenya's main exports to the US are mostly clothing, coffee, Macadamia and tea.
Uganda's Dominance
Uganda has maintained its position as the top destination for Kenya's exports.
Kenya's exports to the neighbouring country in 2023 were valued at Ksh131 billion (USD914 million). This marked an increase from the 2022 figures, which were valued at Ksh117 billion (USD817 million).
In 2021, exports were valued at Ksh119 billion (USD830 million).
Most notable Kenyan exports to Uganda are steel products, fuel products and agricultural products.
On the other hand, exports to Tanzania in 2023 were valued at Ksh70 billion (USD488 million).
