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Economy of Kenya

Kenya, formally the Republic of Kenya, is an African nation that is situated along with African Great Lakes region of East Africa. Nairobi is the capital and largest city of the nation. In the south-east region it connects with Tanzania, whereas the western border of country is linked with Uganda. The estimated GDP of the country in terms of purchasing power parity (PPP) is $79.9 billion as of 2013. Very unfortunately, Kenya has been disadvantaged by the high rate of corruption and inappropriate economic condition. Kenya has been struggling to find the right pace for stabilizing their economic condition. The government of Kenya is facing some serious challenges, like very low infrastructure, unemployment and budget deficits. The high clouds of terrorism and security threats have affected the capitals of tourism industry. The major industries of Kenya include consumer goods, agriculture, aluminum, steel, cement, tourism, textiles and tobacco. The fiscal year of Kenya starts from 1 July and ends up on 30 June. There is a need of taking some serious administrative steps for the betterment of economy of Kenya.

Imports of Kenya

The estimated import value of Kenya is $15.86 billion according to the facts and figures collected in the year 2013. The major import commodities of Kenya include machinery, transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics. A high percentage of Kenya’s imports come India, while the other notable import partners include China, UAE and Saudi Arabia.

Exports of Kenya

With a modest export value of $6.58 billion as of 2013, Kenya lies low down the order in the list of largest exporting countries. The major export commodities of Kenya include tea, coffee, petroleum, fish, cement and horticultural products.

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Capital
Nairobi
Dialing Code
+254
Fiscal Year
01 July - 30 June
Currency
Kenyan Shilling (KES)
GDP
$61,510,000,000
Exports
$5.443 billion (2011 est.) | Tea, Horticultural Products, Coffee, Petroleum Products, Fish, Cement
Imports
$11.87 billion (2011 est.) | Machinery And Transportation Equipment, Petroleum Products, Motor Vehicles, Iron And Steel, Resins And Plastics