Top 5 products Kenya sold the most in its last fiscal year
Business Insider Africa presents the top products Kenya exported the most in its last fiscal year.
This list is courtesy of the Economic Survey report by KNBS.
Kenya's Horticulture exports generated the most revenue.
In the same fiscal year, recurrent expenditures are projected to make up 86.1% of total national expenditures.
This data is according to the Economic Survey report by the Kenyan National Bureau of Statistics, which also showed that the GDP growth rate in the East African Community was 4.7%, revised from 5.4%.
However, for Kenya specifically, GDP growth decreased to 4.7% from a revised rise of 5.7%.
'Nominal GDP: Rose to KSh 16,224.5 billion in 2024 from KSh 15,033.6 billion in 2023,' the report states.
In light of these economic indices, Kenya's exports grew in the period under review, compared to the previous fiscal year.
'Exports grew by 10.4% to KSh1,112.3 billion,' the report reveals.
As highlighted by the report, Kenya's exports are critical to driving economic growth, creating job opportunities, producing foreign money, and expanding regional and global trade relationships.
As a critical component of the country's economy, the export industry not only increases national income but also improves the country's integration into the global market.
Tea, coffee, cut flowers, vegetables, and fruits are quite popular in overseas markets, particularly in Europe and the Middle East.
The foreign money gained from these exports helps to meet the country's import demands, stabilize the Kenyan shilling, and manage the balance of payments.
Agricultural exports, in particular, employ a significant section of Kenya's workforce. Horticulture and floriculture create thousands of jobs in farming, packing, shipping, and distribution.
Increased demand for Kenyan products overseas encourages local industries to develop, hire more people, and reduce unemployment.
With that said, here are the products Kenya exported the most in its last fiscal year.
Top 5 products Kenya sold the most in its last fiscal year
Rank Country Exports in 2024 (KSh in Billions)
1. Horiculture KSh203.6 billion
2. Tea KSh189.1 billion
3. Apparel & Clothing KSh56.8 billion
4. Coffee (unroasted) KSh38.4 billion
5. Animal & Veg Oils KSh30.3 billion
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
a day ago
- Business Insider
Top 10 countries with the lowest reserves of foreign exchange and gold 2025
A nation's gold and foreign exchange reserves are more than just accounting numbers in the linked global economy of today; they are a crucial indicator of its strategic capacity and economic resilience. Business Insider Africa presents the top 10 countries with the lowest reserves of foreign exchange and gold 2025. This list is courtesy of Global Firepower. Somalia ranks number 1 on the list. A number of vulnerabilities are present in nations with inadequate reserves, and these difficulties are particularly noticeable in many African countries that are struggling with debt, inflation, and currency instability. In times of crisis, a government's capacity to act in the currency market to maintain its national currency is limited by low gold and foreign exchange reserves. A country that lacks an adequate buffer is vulnerable to severe currency depreciation, which raises the price of everything from gasoline and food to machinery and medications. This increases societal dissatisfaction and reduces consumer purchasing power. Furthermore, low reserves reduce investor trust. International investors regard countries with limited reserves as high-risk, resulting in capital flight and a substantial drop in foreign direct investment. Credit rating agencies may downgrade such nations, raising borrowing costs and further straining governmental budgets. It creates a vicious cycle: low reserves contribute to negative investor sentiment, which fuels further economic instability. Low reserves also hinder a country's capacity to repay foreign debt, increasing its reliance on international rescues such as the IMF. While such bailouts may provide temporary respite, they are sometimes accompanied with stringent restrictions, like austerity measures, which can be politically unpopular and socially disruptive. This reliance reduces a country's budgetary sovereignty and limits its ability to establish economic policies. Furthermore, low reserves limit a country's ability to import crucial commodities and services, such as electricity and food, potentially leading to shortages and increased civil discontent. For some African countries, whose economies rely significantly on imports, this poses a direct danger to national security and progress. In the context of global power rankings such as Global Firepower, a low level of reserves indicates a deeper weakness in economic preparation. Top 10 countries with the lowest reserves of foreign exchange and gold 2025 Rank Country Reserves of Foreign Exchange and Gold by Country (2025) 1. Somalia $16,747,500 2. Burkina Faso $47,138,000 3. Zimbabwe $115,530,000 4. South Sudan $183,615,000 5. Sudan $206,763,700 6. Chad $211,591,000 7. Eritrea $225,014,976 8. Syria $341,962,500 9. Central Africa Republic $374,405,000 10. Beliz $473,729,000
Business Insider
2 days ago
- Business Insider
Top 10 African countries with the highest IMF debt in July 2025
Just in July alone, the International Monetary Fund (IMF) is reported to be looking into the disbursements of loans to Egypt and Ethiopia, raising new worries about Africa's growing reliance on IMF financing. Business Insider Africa presents the top 10 African countries with the highest debt to the IMF in July 2025. This list is courtesy of data from the IMF's website. Egypt ranks number 1 on the list. While these financial aids are frequently portrayed as lifelines for weak countries, the long-term consequences of high IMF debt are raising concerns across the continent. Egypt got $1.2 billion after completing the fourth assessment of its $8 billion loan program, increasing the total amount disbursed to $3.5 billion. However, the IMF cautioned that Egypt is under "high sovereign stress," with external debt expected to climb from $162.7 billion in 2024/25 to more than $202 billion by the end of the decade. Similarly, Ethiopia received $262 million following a successful third program review, although its financial situation remains fragile. The government is discussing a $8.4 billion restructuring with official creditors under the G20's Common Framework while also preparing to repay a $1 billion Eurobond. The combined burden of IMF loans and commercial debt is straining national budgets and impeding growth projects. On July 8, the IMF published a new analytical note on "How to Stabilize Africa's Debt", emphasizing that debt stabilization typically hinges on stronger institutions, growth-friendly fiscal reforms, and IMF-supported macro stability. Senegal offers a warning story. Disbursements were halted after officials acknowledged to underreporting debt, and the percentage was revised from 74% to over 100% of GDP. S&P downgraded the country, while IMF assistance remains stalled until a realistic recovery plan. These instances highlight a larger issue: while IMF loans can help prevent economic crises, they frequently come with stringent conditions, austerity measures, and little freedom for domestic development goals. Without proper management, governments risk being locked in a cycle of borrowing and repaying, hurting economic and public trust. Having highlighted these facts, here are the African countries with the largest debts to the IMF in July 2025, as per the IMF's database. Compared to the list last month, IMF credits for Egypt, Cote d'Ivoire, Ghana, DRC, Ethiopia, and Tanzania increased, while the rest reduced. Top 10 African countries with the highest IMF debt in July 2025 Rank Country Total IMF Credit Outstanding as of 07/21/2025 1. Egypt 7,422,862,519 2. Cote d'Ivoire 3,104,687,108 3. Kenya 3,022,009,900 4. Angola 2,721,883,340 5. Ghana 2,707,198,500 6. DRC 1,952,850,000 7. Ethiopia 1,593,683,500 8. Tanzania 1,335,730,000 9. Cameroon 1,150,920,000 10. Senegal 992,936,112
Bloomberg
2 days ago
- Bloomberg
Singapore's Core Inflation Rises at the Same Pace as Last Month
Singapore's key inflation gauge rose at the same annual rate in June from last month, ahead of a closely-watched monetary policy review. The core inflation rate, which excludes housing and private transportation costs, stood at 0.6% in June from a year earlier, according to a statement by the Department of Statistics Singapore on Wednesday. That's the same as the 0.6% in May and is weaker than the 0.7% median estimate in a Bloomberg News survey.
