Photo Courtesy of The Star
Kenya's earnings from exports grew by 15.4 per cent in 2023 to hit Sh1 trillion for the first time in history. Data from the 2024 Economic Survey released on Monday in Nairobi ranks tea as Kenya's top export earner for the year, bringing in Sh188.7 billion followed by horticulture at Sh187.4 billion.
Other sectors that contributed heavily to Kenya's export earnings include apparel and clothing at Sh45.5 billion, coffee at Sh34.6 billion iron and steel earned Kenya at Sh32.3 billion in the year ended June 30, 2023. Even so, imported goods worth Sh2.6 trillion, a 4.9 per cent increase compared to the previous financial year, slightly narrowing the trade balance to Sh1.6 trillion from Sh1.6 trillion in 2022.