Kenya Freight Transport Report 2014

Business Monitor International
January 22, 2014
93 Pages - SKU: BMI5189673
Countries covered: Kenya

Kenya Freight Transport Report 2014

An accelerating domestic economy and rising demand in key export markets will cause Kenya's currentaccount deficit to gradually narrow over the coming years. We predict that the country's current accountshortfall will shrink from the 8.3% of GDP in 2014 to 5.6% in 2018. The key driver of Kenya's currentaccount shortfall is the country's gaping trade deficit, which is driven by high demand for oil, manufacturedgoods and consumer products. This will provide some comfort for the Kenyan freight industry.

This wide trade deficit is partially offset by surpluses in the service and transfer accounts. Kenya's serviceexports are among the largest in the region, and reflect the earnings of the country's large travel and tourismsector. Despite a series of set-backs in 2013 (including an airport fire and the September Westgate attack),BMI holds a positive long-term view of the industry, and believes that it will continue to bring in neededforeign exchange.



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