The value of Kenyan’s imports declined by 3.9% on a yearly basis to stand at Ksh 421.2 billion in the first quarter of 2019, latest data showed. Total exports declined by 3.0% to Ksh 156.9 billion.
These resulted in a trade deficit of Ksh 264.3 billion during the quarter ending March, compared with Ksh 276.8 billion in the first quarter of 2018, according to the data from the Kenya National Bureau of Statistics (KNBS) on Monday.
The decline in imports was mainly a result of decrease in imports of industrial machinery and petroleum products, said KNBS.
The data also showed that Kenya’s current account deficit improved by 32.7% year-on-year to Ksh 78.8 billion in the first quarter. The narrowing of the current account deficit was supported by an increase in net service inflows and a decrease in merchandise trade deficit, according to KNBS in a statement.
KNBS said that Kenya’s inflows in international trade in services grew up by Ksh 14.3% to Ksh 149.5 billion while outflows reduced by 10.1% to Ksh 88.8 billion.
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