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Business Insider
15-05-2025
- Business
- Business Insider
Top 5 products Kenya bought the most in its last fiscal year
While exports generate foreign cash, imports allow the country's access to commodities, services, and technology that it may not produce effectively or in sufficient numbers. Kenya's overall national expenditure was expected to rise by 12% to KSh 3,605.20 billion in the fiscal year 2024–2025. Kenya depends on imports for a wide range of essentials that are either not produced locally or supplied in small amounts. These include petroleum goods, equipment, medications, automobiles, and some foods. Access to these items is crucial for everyday living and economic activities throughout the country. Kenya imports the raw materials, industrial equipment, and intermediate items required for local industry. Construction, industry, and agriculture rely on imported steel, fertilizers, machinery, and electrical components. These imports help industries function more effectively, innovate, and expand output to fulfill domestic and export demand. According to the Economic Survey report by the Kenyan National Bureau of Statistics, imports in Kenya increased by 3.6% to KSh2,706.3 billion. The report also shows that exports in the East African country grew by 10.4% to KSh1,112.3 billion, showing a healthy balance between imports and exports. However, during the period under review, Kenya's GDP growth decreased to 4.7% from a revised rise of 5.7%. 'Nominal GDP: Rose to KSh 16,224.5 billion in 2024 from KSh 15,033.6 billion in 2023,' the report states. With that said, here are the products Kenya bought the most in its last fiscal year as per the Economic Survey report. Top 5 products Kenya bought the most in its last fiscal year Rank Country Imports in 2024 (KSh in Billions) 1. Petroleum Products KSh552.4 billion 2. Industrial Machinery KSh312.9 billion 3. Animal/ Veg. Fats & Oils KSh139.2 billion 4. Plastic Articles KSh113.4 billion 5. Iron & Steel KSh101.8 billion
Business Insider
12-05-2025
- Business
- Business Insider
Top 5 products Kenya sold the most in its last fiscal year
In the 2024–2025 financial year, Kenya's total national government spending was projected to increase by 12% to KSh 3,605.20 billion. In light of this Kenyan export soared to KSh1,112.3 billion. Business Insider Africa presents the top products Kenya exported the most in its last fiscal year. This list is courtesy of the Economic Survey report by KNBS. Kenya's Horticulture exports generated the most revenue. In the same fiscal year, recurrent expenditures are projected to make up 86.1% of total national expenditures. This data is according to the Economic Survey report by the Kenyan National Bureau of Statistics, which also showed that the GDP growth rate in the East African Community was 4.7%, revised from 5.4%. However, for Kenya specifically, GDP growth decreased to 4.7% from a revised rise of 5.7%. 'Nominal GDP: Rose to KSh 16,224.5 billion in 2024 from KSh 15,033.6 billion in 2023,' the report states. In light of these economic indices, Kenya's exports grew in the period under review, compared to the previous fiscal year. 'Exports grew by 10.4% to KSh1,112.3 billion,' the report reveals. As highlighted by the report, Kenya's exports are critical to driving economic growth, creating job opportunities, producing foreign money, and expanding regional and global trade relationships. As a critical component of the country's economy, the export industry not only increases national income but also improves the country's integration into the global market. Tea, coffee, cut flowers, vegetables, and fruits are quite popular in overseas markets, particularly in Europe and the Middle East. The foreign money gained from these exports helps to meet the country's import demands, stabilize the Kenyan shilling, and manage the balance of payments. Agricultural exports, in particular, employ a significant section of Kenya's workforce. Horticulture and floriculture create thousands of jobs in farming, packing, shipping, and distribution. Increased demand for Kenyan products overseas encourages local industries to develop, hire more people, and reduce unemployment. With that said, here are the products Kenya exported the most in its last fiscal year. Top 5 products Kenya sold the most in its last fiscal year Rank Country Exports in 2024 (KSh in Billions) 1. Horiculture KSh203.6 billion 2. Tea KSh189.1 billion 3. Apparel & Clothing KSh56.8 billion 4. Coffee (unroasted) KSh38.4 billion 5. Animal & Veg Oils KSh30.3 billion
Business Insider
08-05-2025
- Business
- Business Insider
Top 5 countries within the East African Community with the highest real GDP growth
A recent report has revealed that the East African Community (EAC) posted an astounding 5.4% economic growth in 2024, indicating a robust recovery and resilience in the face of global and regional economic concerns. Top 5 countries within the East African Community with the highest real GDP growth Business Insider Africa presents the top 5 countries within the East African Community with the highest real GDP growth. This list is courtesy of the Economic Survey report by the Kenyan National Bureau of Statistics. Rwanda ranks number 1. This good trend ranks the EAC among Africa's fastest-growing regional blocs, thanks to increasing intra-regional trade, infrastructure investment, and a recovery in important sectors including agriculture, services, and manufacturing. The expansion comes as many regions throughout the world are dealing with inflation, mounting debt, and supply chain problems. The EAC's 5.4% growth rate reflects coordinated economic policies, improvements in cross-border trade facilitation, and continued implementation of the EAC Common Market Protocol. The East African Community (EAC) is a regional intergovernmental organization of seven partner countries: Burundi, Kenya, Rwanda, South Sudan, Tanzania, Uganda, and the Democratic Republic of the Congo. Established with the goal of promoting economic, political, and social integration, the EAC represents a market of more than 300 million people and is growing in strategic importance both within Africa and beyond. The EAC has emerged as Africa's integration lighthouse, achieving significant strides in policy harmonization, non-tariff obstacles elimination, and investor attraction. However, obstacles such as political instability, infrastructure deficiencies, and bureaucratic impediments remain. Despite these challenges, the region has shown that it can remain persistent in developing its economy collectively. In October, 2024, it was reported that the East African Community outperformed other African sub-regions with a growth rate of 4.7% in 2024 and an anticipated rate of 5.7% in 2025–2026. This figure according to the Economic Survey report by the Kenyan National Bureau of Statistics, showed that the region's growth rate has gone from 4.7% to 5.4% considering the economic activities of months after October (Q4 2024). The countries that contributed most to the East African Community's growth performance between Q1 and Q3 were Kenya, Rwanda, Tanzania, and Uganda. Kenya's economy alone is projected to rise to 5% in 2024 and 5.1% in 2025–2026. However, given the latest revision in the overall figure, below are the 5 countries in the sub-region with the highest real GDP growth in 2024. Top 5 countries within the East African Community with the highest real GDP growth Rank Country Real GDP Growth 2024 1. Rwanda 7.0% 2. Tanzania 6.1% 3. Burundi 6.0% 4. Uganda 5.7% 5, Democratic Republic of Congo 4.7%
