Trade Balance of Goods in Kenya: Overview from 2017 to 2023

Kenya’s trade balance of goods consistently remained in deficit over the 2017–2023 period, reflecting the country’s reliance on imports. The deficit widened from -10,939.6 million USD in 2017 to a peak of -13,755.2 million USD in 2022, driven by higher imports of petroleum, machinery, and consumer goods amidst rising global prices and increasing domestic demand.

In 2023, the deficit narrowed to -11,397.6 million USD, possibly due to declining fuel prices and efforts to promote exports in tea, horticulture, and textiles. However, Kenya’s trade dynamics underscore structural challenges, including a limited export base and dependency on imported goods for industrial and consumer needs, which continue to weigh on its trade balance.