
Kenya’s Trade Deficit Widens by Sh20.7 Billion in Q1 2024 Amid Rising Import Costs
Kenya’s trade deficit, the gap between export earnings and import costs, grew by Sh20.7 billion in the first quarter of 2024. Data from the Kenya National Bureau of Statistics (KNBS) reveals that the balance of payments increased from Sh110.5 billion in Q1 2023 to Sh131.2 billion in Q1 2024, driven by higher spending on key…