Soaring import bill widens Kenya’s current account deficit

The country’s external payments position weakened last year after imports outpaced growth in exports, a new report from the Ministry of Finance showed.

While the country exported goods and services worth about $6 billion (Sh498 billion) last year, its imports amounted to about $15 billion (Sh1.2 trillion), according to the report titled Quarterly Economic and Budgetary Review.