Kenya exports to Uganda rise to $648m

The value of Kenya’s exports to Uganda crossed the Ksh100 billion ($618 million) mark for the first time in November 2023, owing to a weak currency that had made the local goods cheaper in the neighbouring country.

Official data shows that Kenya exported goods valued at Ksh105 billion ($648.95 million) to Uganda in the year to November last year, a period that saw the Kenyan shilling lose 17.45 percent of its value against the Ugandan shilling.

Generally, with a weak shilling Kenyan products become cheaper, in what is a boon for the local producers of iron, steel and cement which are the main commodities that Kenya exports to the East African neighbour.

By the end of 2022, a Ugandan trader needed 30.18 units of their country’s shilling to get a Kenyan shilling, according to data from the Central Bank of Kenya (CBK).

However, by the end of November last year, the same trader only needed 24.9 of the Ugandan currency, which means they could buy more of the Kenyan products with the same amount.

Source: theeastafrican