Kenya’s exports to Somalia, Democratic Republic of Congo (DRC) and South Sudan are on the rise with the countries emerging as the next major destinations for the East African nation’s goods.
New economic data on Thursday painted the countries as the new frontier for Kenya as it seeks to grow its exports to other African countries.
The data from the Central Bank of Kenya covering the first quarter of this year indicated that Kenya exported to Somalia goods worth 58 million U.S. dollars in the first three months of 2017.
This was a rise from 53 million dollars in quarter four of 2016, with Somalia accounting for 4 percent of Kenya’s total exports to Africa during the period.
On the other hand, exports to the DRC during the period in review stood at 48 million dollars, which was however a slight decline from 51 million dollars in the previous quarter. The country accounted for 3.2 percent of Kenya’s total exports to Africa.
Similarly, Kenya’s exports to South Sudan in the first quarter stood at 45 million dollars, a huge jump from 40 million dollars in the previous period.
The three countries follow Uganda and Tanzania respectively as the major destination of Kenya’s exports, with the East African nation exporting mainly manufactured goods, fuel and agricultural produce to the countries.
Analysts noted that Kenya is keen on raising its exports in such countries as those to Europe and Asia have seemingly stagnated. Kenya’s exports to African countries increased 1.2 percent in the three months of this year, pushed up by rise in exported goods to the Comesa region.
They stood at 364 million dollars in the first quarter of this year, from 359 million dollars in the period of October-December, with the surge of exports to Somalia, DRC and South Sudan contributing to the swell. Enditem