Pakistan overtakes US as largest destination for Kenya’s exports; Report
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Pakistan overtakes the US as Kenya’s top export earner according to a report by the Kenya National Bureau of Statistics
Pakistan overtakes the US as Kenya’s top export earner according to a report by the Kenya National Bureau of Statistics.
In the first eight months of the year, Pakistan surpassed the United States and the Netherlands to emerge as Kenya’s top export destination outside of the East African Community, indicating rising demand for tea.
Pakistan ordered goods worth Sh48.28 billion during the review period, up 19.29% from Sh40.47 billion during the same period the previous year, according to an analysis of Kenya’s export revenues by value.
Based on data released by the Kenya National Bureau of Statistics, the South Asian nation’s order book exceeded that of the Netherlands, which was valued at Sh43.94 billion, and the United States, which was valued at Sh42.89 billion.
Pakistan is the primary purchaser of Kenyan tea, along with small quantities of leather, coffee, and spices.
This occurred at a time when, according to KNBS data, Kenya’s earnings from tea exports increased by 13.54 percent to Sh120.13 billion during the review period.
The growth was largely helped by a weaker shilling against major international currencies, with data showing volumes of tea exports remained flat.
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Kenya exported 368,822.03 tonnes of tea between January and August of last year, a pitiful 1.92 percent increase over 361,866.58 tonnes over the same time the previous year.
Pakistani buyers of tea were earlier in the year hit by the scarcity of the US dollar, prompting Kenya’s Agriculture Secretary Mithika Linturi to visit Islamabad.
The visit resulted in authorities in Pakistan classifying tea as an essential import, helping traders in the commodity to access the dollars on a priority basis.
The data shows that exports to the Netherlands, predominantly cut flowers, grew by a fifth partly on easing inflation in Europe that helped to free up some household cash for expenditure on ornamentals.
The bulk of Kenya’s horticultural produce like cut flowers are sold to the European Union bloc through Amsterdam.
The US, which was the biggest global destination of Kenya’s goods outside the EAC, has this year posted a dip in orders.
The data shows the world’s largest economy bought goods worth Sh42.89 billion in eight months through August, a 17.92 percent fall from Sh52.25 billion the year before.
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