Kenya’s export earnings for the first half of the year (H1 2021) hit a 10-year high at KSh368.79 billion, lifted by increased sales of horticultural produce and rising prices of coffee.
The earnings represent a 16.27% increase from KSh317.18 billion over a similar period last year.
Earnings from horticulture — cut flowers, vegetables and fruits — rose 30.79% to nearly Sh73.07 billion, while coffee rose 22.15% to almost KSh16.15 billion.
Despite the jump in exports’ earnings, Kenya’s goods trade deficit (the gap between imports and exports) did not narrow because imports, including crude oil, machinery and materials for factories, grew at a faster pace of 27.71% to KSh991.75 billion. This widened the goods trade gap by 35.61% to KSh622.95 billion from KSh459.38 billion last year.
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