Kenya Quarterly Balance of Payment and International Trade Report Third Quarter 2024

Abstract

The third quarter of 2024 recorded a marginal improvement in the Current Account balance from a deficit of KSh 139.8 billion in the third quarter of 2023 to a deficit of KSh 139.2 billion in the third quarter of 2024 as presented in Table 1. This resulted from an increase in merchandise imports whose growth of 5.0 per cent to KSh 625.3 billion outpaced revenues from exports which amounted to KSh 284.3 billion during the period, all valued on f.o.b basis. There were notable increases in imports of industrial machinery, telecommunications equipment and accessories, road motor vehicles, plastics in primary and non-primary forms, as well as medicinal and pharmaceutical equipment. In so far as exports, increases in revenues were recorded from exports of articles of apparel and clothing accessories, fruits and vegetables, unroasted coffee, animal and vegetable fats and oils.