Sea shipping to Kenya has increased in 2022 due to some economical reasons, which we are going to explore. Kenya has a home market of more than 54 million people and is one of East Africa’s most important economic and logistical centers, as well as a stage for multinational companies wishing to enter the country’s market. Kenya has a young, educated, and English-speaking populace.
Over the last decade, Kenya has implemented a variety of political, structural, and economic changes that have primarily supported sustained economic growth, social development, and political advancement. From 2018 through 2020, the country’s GDP increased at a rate of 5.6 percent each year on average. While it decreased by 0.1 percent in 2020, it rose by 7.5 percent in 2021.
Kenya’s GDP is expected to expand by 4.5 percent to 6.3 percent in fiscal year 2021-2022, indicating a partial recovery from COVID-19’s economic impact and accompanying mitigating measures.
Kenya’s major exports include tea, cut flowers, refined petroleum, gold, and coffee, with Uganda, Pakistan, the Netherlands, the United States, and the United Kingdom being the top importer.
Refined Petroleum, Palm Oil, Broadcasting Equipment, Packaged Medicaments, and Cars are Kenya’s major imports, with most of them coming from China, India, the United Arab Emirates, Japan, and Saudi Arabia.