Exports earnings in half year to June dropped marginal to Ksh 223.3 billion when compared to Ksh 225.7 billion reported over the same period last year.
Latest data by the Kenya National Bureau of Statistics (KNBS) shows that the decline was due to significant decreases in earnings from domestic exports of coffee, iron and steel, industrial machinery and paper and paperboard.
During the quarter to June 2024, coffee export earnings declined to Ksh 11.7 billion from Ksh 13.6 billion reported over the same period last year. Similarly, export earnings from iron and steel, industrial machinery and paper and paperboard declined to Ksh 6.8 billion, Ksh 1.9 billion and Kh 1.1 billion respectively.
Total coffee exported during the period between April and June dropped to 15,913.3 metric tonnes from 18,874.7 metric tonnes.
“Despite the marginal decline in the overall value of domestic exports, earnings from exports of articles of apparel and clothing accessories and tea increased by 7.5pc and 2pc, respectively, over the same period. This was mainly on account of increased quantities of exported tea, and articles of apparel and clothing accessories,” said KNBS.
Export earnings from tea increased from Ksh 43.8 billion in the same quarter last year to Ksh 44.8 billion while exports earnings from articles of apparel and clothing accessories increased to Ksh 12.7 billion from Ksh 11.8 billion.
On the other hand, spending on imports over the same period rose by Ksh 7.7 billion to stand at Ksh 659.5 billion.
“This was largely driven by increased expenditure in imports of industrial machinery, and aircraft, associated equipment and parts,” KNBS stated.
KNBS says other imported commodities which registered notable increases during the review period were unmilled wheat which rose by 24.6pc, telecommunication equipment and parts 83.1pc, and chemical fertilizers 41.7pc.
“Conversely, there were significant declines in the value of imported iron and steel, and rice which dropped from Ksh 39.3 billion and Ksh 27 billion in the second quarter of 2023 to Ksh 22.5 billion and Ksh 11.6 billion respectively, in the second quarter of 2024.”
