According to the analysts, total value of Kenya’s imports increased by 130 million U.S. dollars in the year leading to July.
During the period, the share of machinery and transport equipment to total imports increased from 26 percent to 30 percent, while import values increased by 717
million dollars to 5 billion dollars, which was 100 percent rise.
“The rise in imports during the period is mainly attributed to increased imports of power generating machines, machines for industrial parts, road vehicles and other transport equipment,” say the analysts in CBK’s monthly economic review for July.
Kenya is undertaking major infrastructure projects that include road construction, expansion of airports and mineral explorations.
Kenya’s imports in the same time have swelled this year as compared to 2012, with the East African nation intensifying trade with Asian nations.
East Africa’s biggest economy’s imports as at August stood at 10.9 billion U.S. dollars, up from 10.7 billion dollars during a similar period last year.
This is an increase of more than 209 million dollars, according to a new report from the Kenya National Bureau of Statistics (KNBS) .
Most of the imports came from India, China and United Arab Emirates (UAE), which have remained Kenya’s major sources of goods for several years.
Kenya’s imports mainly comprise of industrial supplies, fuel and lubricants, machinery and transport equipment.
“Industrial supplies was the main imports category in August with a share of 33 percent, while the values of fuel and lubricants and machinery and transport equipment registered shares of 21 percent, 20 percent and 11 percent respectively,” said KNBS in the Leading Economic Indicators report received Thursday.
As Kenya’s imports rise, its exports decreased marginally in the period leading to August, as compared to a similar period last year.
Kenya exported goods worth 3.9 billion dollars as at August, compared to 4.01 billion dollars last year. The decline is attributed to a drop in exports to Comesa and EAC regions.
In the year to July, the share of Kenya’s exports to Africa declined to 46.8 percent from 48.8 percent in the year to July 2012. Kenya’s exports to the East Africa Community and Comesa region also declined by 1.2 percent and 6.2 percent respectively.
The value of exports to Uganda, Tanzania, Egypt, Sudan and Somalia declined by 2.5 percent, 1.4 percent, 11 percent, 54 percent and 12.5 percent respectively during the period.