NAIROBI, Kenya, Oct 9 – Kenya exported Sh10.71 billion worth of goods to Somalia in the first six months of 2017, up from Sh8.02 billion over the same period in 2016.
Data by the Kenya National Bureau of Statistics shows that the increase made Somalia the third largest destination for Kenya’s merchandise on the continent.
Somalia’s uptake of Kenyan goods comes at the back of the miraa export ban in early 2016 which started with claims of 100 per cent duty before it was later resolved.
Kenya’s other export markets were noted to have shrunk with exports to Uganda remaining flat while those to Tanzania and Egypt dropped.
“Uganda’s export stood at Sh30 billion. Tanzania, which is the second largest market in Africa, recorded a 32 percent drop to Sh13.34 billion worth of Kenyan merchandise. Overall, exports in the continent lowered to Sh110.2 billion.”
Overall, the latest estimates by the Kenya National Bureau of Statistics show the last quarter was characterized by sharp increases in food prices and a notable rise in international oil prices with inflation hitting a high of 11 per cent.
September inflation dropped to 7.6 per cent from 8.04 per cent in the previous month due to a normalization of food distribution that had been disrupted during the August General election.
In addition to agriculture, forestry and fishing other sectors of the economy that slowed down the economy include manufacturing, electricity and financial intermediation.