Kenya’s exports hit their lowest level in a year after declining by Ksh 5.2 billion in December 2024. The total exports for the month stood at Ksh 80.7 billion, down from Ksh 85.9 billion recorded in November. The decline was mainly attributed to a slowdown in domestic exports, despite a rise in re-exports, according to the latest data from the Kenya National Bureau of Statistics (KNBS).
The KNBS Leading Economic Indicator report for December 2024 shows that re-exports increased from Ksh 9.8 billion in November to Ksh 11.2 billion. However, domestic exports experienced a sharp drop of Ksh 6.7 billion, settling at Ksh 69.4 billion. The December export figures were the lowest recorded throughout the year, with February witnessing the highest export value at Ksh 107.4 billion.
Major Export Destinations
Uganda, the United States, and Pakistan remained Kenya’s primary export markets in December. Uganda topped the list, receiving Ksh 7.4 billion worth of goods, followed by the U.S. at Ksh 6 billion and Pakistan at Ksh 5.2 billion. These markets have consistently been among Kenya’s top trading partners, especially for agricultural and industrial exports.
Trade Volume Decline
Between November and December 2024, Kenya’s total trade volume dropped by Ksh 14.9 billion, from Ksh 313.6 billion to Ksh 298.7 billion. Despite this decline, annual exports recorded a slight increase of Ksh 6.8 billion, rising from Ksh 1 trillion in 2023 to Ksh 1.01 trillion in 2024. However, the country’s import bill surged significantly by Ksh 86.8 billion, climbing from Ksh 2.6 trillion in 2023 to Ksh 2.7 trillion in 2024, marking a 3.3% increase.
Despite the overall rise in imports, the value of goods imported between November and December fell from Ksh 227.7 billion to Ksh 218 billion. China, the United Arab Emirates, and India were Kenya’s top import sources, contributing Ksh 53.2 billion, Ksh 33.1 billion, and Ksh 18.8 billion, respectively.
Key Export and Import Categories
Food and beverages remained the dominant export category, accounting for 40.8% of total domestic exports, valued at Ksh 28.4 billion. Non-food industrial supplies followed at 25.8% (Ksh 17.9 billion), while machinery and capital equipment comprised 2% (Ksh 1.4 billion).
On the import side, non-food industrial supplies were the leading category, accounting for Ksh 82.1 billion, representing 37.7% of total imports. Fuel and lubricants made up 21.4%, while machinery and capital equipment constituted 14.4%, and food and beverages comprised 8.2%.
Kenya’s trade performance in December highlights the continued challenges in balancing exports and imports, with domestic exports facing pressure despite growth in re-exports. Policymakers will need to address these trends to ensure sustainable trade growth in 2025.
