Annual trade between Kenya and Tanzania crossed the Sh100 billion mark for the first time in President Samia Suluhu’s tenure in office, signaling improved ties between the two neighbouring countries.
Fresh official statistics show the value of goods traded between the two countries amounted to Sh107.63 billion in 12 months through March 2022, a 66.86 percent growth over Sh64.51 billion the year before.
Kenyan traders spent Sh56.78 billion to truck in goods from Tanzania in the year ended March 2022, according to data collated by the Kenya National Bureau of Statistics (KNBS)
That is a 77.92 percent jump of over Sh31.91 billion a year earlier.
Exports to Tanzania, on the other hand, bumped 56.03 percent to Sh50.85 billion, the KNBS data shows.
Faster growth in imports from Tanzania than exports resulted in goods trade balance tilting in favour of the south-neighbouring country to the tune of Sh5.93 billion.
Source: Business Daily