Experts have expressed their hope that Kenya’s horticulture sector will guide the rebound of that nation’s economy, as the country rediscovers growth amidst the COVID-19 pandemic.
According to a report by global online trading firm Scope Markets, the country has seen superior yields from its agricultural exports portfolio. This growth warrants the recent adjustment to its 2020 GDP projection.
Several other actors have adjusted their growth projections for Kenya, while the National Treasury and the Central Bank of Kenya have upheld their previous GDP projections of 2.6 and 2.3 per cent respectively.
New data indicates that for the first seven months of the year, earnings from the export of cut flowers, fruits and vegetables increased by 8.6 per cent to Ksh.93.4 billion (€728.5 mln). The improved revenues, supported by better prices for cut flowers and fruits, was set against lower volumes of 185,215 tons compared to 206,127 tons of these goods sold last year.