Kenya’s merchandise trade volume rose by 5.5 percent in 2024, reaching Ksh.3.82 trillion, driven by export and moderate growth in import expenditure, according to the latest data from the Kenya National Bureau of Statistics (KNBS).
Total exports grew by 10.4 percent to Ksh.1.11 trillion, up from Ksh.1.01 trillion in 2023.
This increase was largely supported by a 77.3 percent rise in re-exports, particularly of kerosene-type jet fuel, which pushed re-export earnings to Ksh.180.2 billion in 2024.
Horticulture remained Kenya’s top export earner, posting Ksh.203.6 billion, up from Ksh.187.4 billion in 2023. It was closely followed by tea, which recorded Ksh.189.1 billion, slightly higher than the previous year.
Other notable exports included apparel and clothing accessories (Ksh.56.8 billion), coffee (Ksh.38.4 billion), and animal and vegetable oils (Ksh.30.3 billion).
On the import side, total import expenditure increased by 3.6 percent from Ksh.2.61 trillion in 2023 to Ksh.2.71 trillion in 2024. Despite the overall increase, imports of petroleum products, Kenya’s leading import dropped to Ksh.552.4 billion, down from Ksh.605.9 billion the previous year.
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Key performances were, however, were seen in imports of rice (23.9%), telecommunication equipment and parts (30.1%), plastics (14.3%), industrial machinery (8.0%), and aircraft and associated equipment (98.1%).
Interestingly, industrial machinery imports rose to Ksh.312.9 billion, up from Ksh.289.9 billion in 2023, reflecting ongoing investments in manufacturing and infrastructure.
The strong performance in exports, particularly re-exports, led to a marginal narrowing of the trade deficit, which declined from Ksh.1.60 trillion in 2023 to Ksh.1.59 trillion in 2024.
Additionally, the export-to-import cover ratio improved to 41.1 percent, up from 38.6 percent the previous year, indicating better export earnings relative to import costs.
Kenya’s improved trade metrics signal resilience in the external sector, bolstered by diversification in exports and steady demand in global markets.
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