Data by the Central Bank of Kenya (CBK) show that Kenya’s imports from Tanzania have surpassed its exports for the first time in decades.
CBK figures reveal that Kenya’s imports from Tanzania grew nearly three-quarters in the six months to June 2021 compared with the previous period under review.
The value of goods from Tanzania shot to a high of Ksh.18.29 billion in the review period, according to data from the Kenya Revenue Authority(KRA).
The over 70 percent surge in goods bought from Tanzania exceeded that of exports, resulting in a rare trade deficit of Ksh.1.02 billion.
The sharp rise in Kenya’s imports from Tanzania signals improved trade flows under President Samia Suluhu’s administration.
In May this year, Presidents Uhuru Kenyatta and Suluhu pledged to ease trade barriers between the two trade partners.
More to follow…