International Trade

Year published: 17/11/2010

Key international trade indicators include merchandise trade balance, terms of trade, volume of trade, current account and overall balance of payments position. In 2008, the trade balance widened to a deficit of KSh 42,705 millions from a deficit of KSh 330,454 million in 2007, a deterioration of 28.8 per cent. The export-import ratio further deteriorated from 45.4 per cent in 2007 to 44.8 per cent in 2008. As a percentage of Gross Domestic Product (GDP), the current account deficit excluding current transfers was 14.2 per cent in 2008 against 7.0 per cent projection. The Kenya Shilling weakened against the US dollar to record an average exchange rate of KSh 69.18 in 2008 compared to KSh 67.32 per US dollar in 2007.