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Trade deficit narrows as export earnings hit Sh1tr

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Export earnings grew by 15.4 percent to reach Sh1 trillion in 2023. [iStockphoto]

Kenya's international trade saw a significant increase in 2023 with total value of goods traded, both imported and exported, reaching Sh3.62 trillion, a 7.6 percent increase compared to 2022.

According to the Economic Survey 2024, the growth was attributed to rising global prices for key imports like oil, along with a weaker shilling against the currencies of Kenya's main trading partners.

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