Kenya Quarterly Balance of Payments Second Quarter, 2020

Abstract

During the second quarter of 2020, the current account balance contracted to a deficit of KSh 82.2 billion from a deficit of KSh 136.9 billion in the corresponding quarter of 2019. The narrowing of the merchandise trade deficit by 32.5 per cent to KSh 187.4 billion in the second quarter of 2020 mainly occasioned the improvement in the current account balance. However, net inflows in international trade in services which declined by 84.8 per cent to a surplus of KSh 5.8 billion in the second quarter of 2020 dampened the improvement in the current account balance