Kenya’s Trade Surges to Sh3.8 Trillion as Exports Drive Growth in 2024

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Kenya’s total trade expanded to Sh3.8 trillion in 2024, up from Sh3.6 trillion in 2023, according to the Economic Survey 2025, signalling steady growth in the country’s external economic activity.

The survey shows that export earnings rose 13.5 percent to Sh932.1 billion, driven by strong performances in horticulture, tea, apparel and coffee.

Imports grew more moderately by 2.7 percent to Sh2.53 trillion, mainly due to petroleum products and machinery.

“The export-import cover ratio improved to 41.1 percent in 2024 from 33.3 percent in 2023, reflecting resilience in key export sectors despite global uncertainties,” the report noted.

Traditional exports remained a key contributor. Tea exports earned Sh189.1 billion, while horticulture, including flowers and fresh produce, brought in Sh203.6 billion.

Apparel exports benefited from duty-free access to the US under AGOA, fetching Sh56.8 billion, and coffee earnings rebounded to Sh38.3 billion.

“These earnings remain critical in shoring up foreign exchange reserves and supporting livelihoods across rural households that depend on export agriculture,” the survey noted.

China, India, and the United Arab Emirates continued to dominate Kenya’s import market, while the United States remained a top export destination.

China alone accounted for Sh576.1 billion of imports, highlighting Kenya’s reliance on Asian markets for manufactured goods and machinery.

Remittances also played a stabilising role, rising to Sh674.1 billion, sustaining their position as the country’s largest source of foreign exchange.

“Remittance inflows have continued to cushion the economy, providing households with resources for education, healthcare and small business investments,” the report said.

Despite the gains, the survey cautions that Kenya’s high import bill, especially in petroleum, leaves the economy exposed to global price shocks.

“Kenya’s trade performance in 2024 reflects both progress and vulnerability. While exports recorded commendable growth, the structure of imports continues to expose the economy to external shocks,” it noted.