The government plans to grow Kenya’s exports of manufactured goods to Rwanda and Burundi by10% annuallly in a bid to narrow the gap between Kenya’s imports and exports. The Kenya Export Promotion and Branding Agency Chief Executive Officer, Peter Biwott has said plans are underway to develop a strategy around the two markets.
Data from the Kenya National Bureau Of Statistics indicates that Kenya had a deficit in the balance of trade of 1.14 trillion shillings in 2018. It is in view of this unsustainable balance of trade that the Kenya export promotion and branding agency is looking to opportunities to boost Kenya’s exports, with the Rwandan and Burundi markets now on its sights.
According to the study conducted on Rwanda and Burundi, Kenya currently holds 3% of Burundi and Rwanda’s import market respectively. In addition, the survey indicates that Kenya is not meeting the top import needs of both Rwanda and Burundi.
Kenyan businesspeople have been urged to consider exporting more clothes, foodstuff and footwear to Rwanda.
Kenya also has an opportunity to export more clothes, cereals and groceries to Burundi. According to KEPROBA, Kenya has the potential to triple its current market share of the entire imports in these markets by simply improving the competitiveness of its exports and deploying smarter export penetration strategies.