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Tanzania exports to Kenya on rise

Tanzanian exports to Kenya have registered 17% increase in value, narrowing the trade balance gap between the two countries.

Kenyan High Commission to Tanzania, Mr. Mutindo Mutiso said Tanzanian revenue from exports to Kenya has grown to US$95.8 million (KShs7.3 billion) in 2008 compared to $86.6 million (KShs6.6 billion) in 2007. He said this was a 17% increment.

In 2006 Tanzania's exports to Kenya revenue stood at $59.1 million (KShs4.5 billion); in 2005 it stood at $36.8 million (KShs 2.8 billion) and in 2004 at only $26.3 million (KShs2 billion).

 "The volume of exports from Tanzania to Kenya rose by 17% in 2008 while Kenya's export into Tanzania rose by 27% during the same period," said Mr. Mutiso.

Ambassador Mutiso added that Kenya's exports into Tanzania in 2008 were valued at KShs29.3 billion which is up from KShs22.3 billion in 2007. The value of exports from Kenya into Tanzania in 2006 stood at KShs18.3 billion.

Mutiso added that the fast rising of Tanzania's exports to Kenya will work to narrow the trade balance gap between the two countries due to the increasing of cross-border trade and investments.




Source: busiweek.com

Publication date: 9/8/2009


 


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