Kenya’s exports to the United Kingdom jumped by 64 percent to $1.43 billion in four years after signing of a post-Brexit trade deal in March 2021, official data shows Trade and investment data released by the UK’s Department for Business and Trade (covering August 1 to September 19) shows Kenya’s exports to Britain grew by 64 percent ($563.17 million) to $1.43 billion in 2024, from $875.45 million in 2021, buoyed by increased exports of crude animal and vegetable materials, fruits, coffee, tea, and mechanical power generators. As a result, Kenya’s trade surplus with the UK more than quadrupled to $366.81 million from $84.54 million in the period, with Nairobi posting trade surplus for four consecutive years to 2024. The total volume of trade between the two nations rose by over 50 percent to $2.51 billion in 2024, from $1.66 billion in 2021. But the report shows that Kenya’s imports from the UK increased at a slower rate during the period -- 35.51 percent to $1.07 billion in 2024 from $790.9 million.Imports included cars, refined oil, vehicles, beverages and tobacco, and metal ores and scrap. In the 12 months to March 31 2025, the volume of trade between Kenya and the UK increased by 12.6 percent ($293.18 million) to $2.59 billion, from $2.29 billion in the previous year.Kenya’s exports rose by 12.7 percent ($170.45 million) to $1.5 billion in the same period.The UK formally left the European Union (EU) on January 31, 2020, following a public vote held in June 2016. After Brexit, Kenya and the UK inked an Economic Partnership Agreement (Epa) that sought to safeguard tariff-free access and stabilise trade channels. It was ratified and came into force on March 22, 2021. Epa commits the UK to support Kenya with agreement implementation, enhance competitiveness, build trade capabilities and the ability to attract investment, as well as further integrate into global supply chains. Kenya will also gradually reduce duty on UK products it has deemed non-sensitive, providing businesses with cheaper inputs, which can support agricultural development and manufacturing. It does this by gradually phasing out tariffs on the majority of UK exports, covering sectors including machinery and pharmaceuticals.Kenya also signed an Epa with the European Union (EU) in December 2023, which entered into force in April 2024 a deal that has been faulted by other EAC member states. (ICE NAIROBI)

Fonte notizia: Business Daily