Tanzania's exports to Kenya have exceeded its imports for the first time in decades. Experts claim this signals improved trade flows under president Samia Suluhu's administration. Recent data shows that Kenya's imports from Tanzania grew nearly three-quarters y-o-y in the six months to June 2021, coinciding with the relaxation of trade ties between the two nations.
The value of goods that Kenya imports from Tanzania hit a high of Sh370 billion in the review period, according to data from the Kenya Revenue Authority. The 70.06 percent surge in goods bought from Tanzania outpaced that of exports, which grew at a five-year high, resulting in a rare trade deficit of Sh21.02 billion.
The CBK data shows exports to Tanzania went up 21.39 percent to Sh340 billion, the highest since the first half of 2016. In May, president Uhuru Kenyatta and his Tanzanian counterpart, Ms Suluhu, pledged to end persistent strained trade relations between the two largest economies in the six-nation EAC bloc which have, for years, hindered the smooth flow of goods and services.
[ Sh100 = €0,037 ]
Source: allafrica.com