According to a survey of businesses doing business on the continent, Kenya is the continent's second most popular export destination, indicating the country's expanding purchasing power as a result of rising population and earnings. According to the most recent Pan-African Private Sector Trade and Investment Committee (PAFTRAC) report, Africa-based businesses exported products and services to Nigeria at an increased rate. Let’s explain how Kenya has become the second most export destination in Africa.
According to a poll of businesses doing business in Africa, Kenya is the continent's second most popular export destination, indicating the increased purchasing power of the nation as a result of its expanding population and rising earnings.
According to the most recent report from the Pan-African Private Sector Trade and Investment Committee (PAFTRAC), companies with headquarters in Africa exported goods and services to Nigeria at a rate of 25.96%, Kenya at a rate of 23.89%, South Africa at a rate of 22.12%, and Kenya at a rate of 23.89%. Also get Kenya Export Data
The upgraded infrastructure, which includes the standard gauge railway (SGR), which connects Mombasa to Naivasha, helped Kenya perform better.
According to the survey, the inclusion of South Africa, Ghana, and Kenya among the top trading nations is partially due to the significance that their international ports play in regional trade.
However, the private sector participants pointed out that one issue with the SGR was that the railway did not cross international borders.
It is frequently challenging to get funds for cross-border transportation infrastructure links where new railways are constructed. The research noted that Kenya's new standard gauge railway (SGR) now only runs between Mombasa and Nairobi and not yet between Nairobi and Kampala.
Additionally, the nation has been importing from other African countries. Nigeria imports flowers from Europe rather than from Kenya, despite the fact that Kenya is one of the world's top producers of horticulture, which is one of the difficulties associated with intra-African trade. Kenya imported 20.1 percent of its GDP in goods and services as of the year 2021.
For the businesses we studied, imports primarily come from the major Anglophone markets. Kenya does exceptionally well, as noted by 28% of participants, just edging out South Africa (28.3 %%) in top place, according to the research.
Over 800 people participated in the study, which aimed to gauge how the African private sector felt about the continent's trading prospects and environment. Between March and June 2022, a survey of the respondents was conducted. The represented companies had annual revenues of up to $250 million (Sh30.2 billion) and were operating in agribusiness, manufacturing, education, and banking among others various institutions.
Kenya Export Data includes details on Kenyan economic dealings with international corporations. Kenya trade data includes firm information, product specifications, and other customs-related information that is crucial for organisations around the world. This information is based on Shipping Bills, Import Bills, Invoices, and other import-export documents.
In 2019, Kenya exported goods worth USD 5,836 million, a decline of -43.1% from the last year. Kenya exported commodities worth USD 6,049 million in 2018, according to export data.
According to Kenya Export Import Data, Kenya ranked 105th among all exporting nations in 2019. With a population of 49.4 million, Kenya's total exports in 2019 amounted to about USD 70 for each citizen of the East African nation.
The most reliable source for information on what and where Kenyan businesses export is export data. It also makes it easier to analyse Kenya's suppliers in light of all HS-classified goods. Date, Exporter Name, Exporter Address, HS Code, Commercial Description, Origin Country, Quantity, Value, Port, Unit, and so forth are all included in Kenya trade data. A sample of Kenyan export data is provided for your reference.
Kenya's top 10 export partners in 2019 were Uganda ($624 million), the United States ($508 million), the Netherlands ($470 million), Pakistan ($443 million), the United Kingdom ($391 million), the United Arab Emirates ($379 million), Tanzania ($329 million), Rwanda ($227 million), Egypt ($185 million), and China ($1 billion) (USD 148 million).
According to Kenya Trade Data, 63.5% of the total value of exports recorded in 2019 came from Kenya's top 10 exporting nations. From a continental standpoint, 30.5% of Kenya's exports were sold to buyers in Asia, while 35.2% of its exports by value went to African nations. A further 24% of the goods were exported to customers in Europe. Lesser percentages came from Australia (0.5%), Latin America (excluding Mexico but includes the Caribbean) (0.9%), and North America (8.4%, 0.9%, and 0.9%, respectively).
So according to the survey, Kenya is the continent's second most popular export destination, indicating the country's expanding purchasing power as a result of rising population and earnings. Also, the Kenya export data comes with the actual product description and is very helpful to analyse the product movement over the world. If you require any guidance regarding Kenya Import Export Data or Kenya export data, you can obtain valuable information by kenyatradedata professionals. They can ensure that accurate and authentic data reports are delivered and traders can download free Kenya custom data reports.