× HomeAbout usAdvertisementContact us
Kenyan exports to Somalia hits 10 year low
Africa

Kenyan exports to Somalia hits 10 year low

Business Daily Advertisement Kenya earnings from exports to Somalia hits a decade-low Monday, February 24, 2020 0:01 Somalia has lost its lustre as a market outlet for Kenya's goods despite the heavy investments that Nairobi has made to restore political stability in the Horn of Africa nation. Somalia has lost its lustre as a market outlet for Kenya's goods despite the heavy investments that Nairobi has made to restore political stability in the Horn of Africa nation. Earnings from exports to Somalia last year slipped to a decade low amid erratic production and growing suspicions over long-standing maritime territorial dispute, provisional trade statistics show. The value of exports, largely miraa (khat), contract 21.51 percent, in the 12 months ended December, 2019, compared with a year ago, data collated by the Central Bank of Kenya (CBK) indicate. The income from goods sales to Somalia was the lowest since 2009 when they stood at $11.22 million. Mogadishu has over the years grown into a key market for miraa traders, fetching Kenya tens of billions of shillings annually. Traders earlier blamed “longer-than usual” drought spells experienced between 2017 through April 2019 for erratic production of the stimulant. This has been compounded by political tensions as a result of unresolved diplomatic tiff between Nairobi and Mogadishu which has slowed down exports, they said. “The prolonged drought periods made miraa very scarce and it became very expensive (for Somali markets),” Kimathi Munjuri, chairperson of Nyambene Miraa Traders Association (Nyamita), said