Which are Kenya’s chief exports in Kenya that you should invest in? These areas promise good returns because of the growth of the Kenyan economy which has been projected at 5% by Central Bank of Kenya.
Kenya’s exports stood at 5.5 billion dollars according to Central Intelligence Agency World Annual factbook against an import volume of more than 17 billion dollars.
The biggest importer of Kenyan goods is Uganda followed by United States of America.
These are the 10 chief exports that you can invest in:
- Coffee, tea, spices: US$1.4 billion (26.1% of total exports) – Tea and coffee are the largest Kenyan exports. They are majorly exported as raw materials. Pakistan is the biggest importer of Kenyan tea. According to the Daily Nation, Pakistan imports 14 million kilos of Kenyan tea, followed by Egypt which imports 7.5 million kilos. United States of America on the other hand is the largest importer of Kenya’s coffee according to Business Daily.
- Live trees, plants, cut flowers: $716.7 million (13.1%) – Cut flowers are popular especially among the European countries. In fact Kenya beat Israel and Colombia to be the European Union’s greatest exporter of flowers. Kenya has a market share of 25% way ahead Israel and Colombia’s 16% each.
- Mineral fuels including oil: $426.2 million (7.8%) – Kenya exports its oil mined in Turkana mainly to China and India. The oil is exported in its crude form without refining.
- Vegetables: $281.9 million (5.2%) – The vegetable exports grown in Kenya include French (green) beans, sugar snaps, snow peas, runner beans and chilli.
- Clothing, accessories (not knit or crochet): $213.9 million (3.9%) - United States of America is the largest buyer of Kenya’s textile products. Under the African Growth and Opportunities Act (AGOA) Kenya has exported goods worth Sh35.53 billion.
- Knit or crochet clothing, accessories: $187 million (3.4%) – It has been steadily rising in value through its 139.8% gain.
- Fruits, nuts: $150.8 million (2.8%) – Kenya’s fresh fruits are majorly imported by Nordic Countries. Nordic countries include three kingdoms of Denmark, Sweden, Norway and the Republic of Finland. Iceland is usually considered a part of the Nordic countries because of its geographic, historic and cultural relations. The export sales improved by 229.3% led by shipments of macadamia nuts and avocadoes.
- Vegetable/fruit/nut preparations: $142.2 million (2.6%)
- Ores, slag, ash: $137.7 million (2.5%). According to the fact book, the ores and slag export sales shot up by an impressive 9,835% in a span of 6 years. The increase is owed to the introduction of Kenyan exports of Titanium ores and concetrates.
- Salt, sulphur, stone, and cement: $122.1 million (2.2%) – The major importers of Kenya’s cement are East African countries. Export sales have been declining since 2009 by registering a -13.4% drop.