The strategic location of Kenya and its well-developed business infrastructure make it a natural choice for the foreign investors and international companies;
The largest source of revenue is tourism;
The main Kenyan crops are tea and coffee (30% of the GDP);
The Port of Mombasa is the largest in the region;
Kenya is the financial and logistics hub of East Africa;
Kenyan GDP growth: 4.9% (2013), 5.7% (2014);
Under the Economic Recovery Strategy for Wealth and Employment Creation, various reforms have been affected, and these have had a total positive effect on the economy of Kenya;
The vision 2030 of the Kenyan Government provides the entire Policy Framework that should lead Kenya to attain the status of a
newly industrialized nation by the year 2030;
Kenyan agricultural sector contributes 24% of the gross domestic product and 19% of the formal wage employment;
60% of all households are occupied in farming activities, and 84% of rural households keep livestock;
Kenyan manufacturing industry hit 4.1%, construction industry, 3.5%, wholesale and retail trade, repairs, 9.5%, tourism and hotels, 15.1% and Transport and communication at 9.7%;
Kenyan manufacturing sector contributes 10% of the gross domestic product and accounts for 14% of the wage employment, mainly in food and wood processing, beverages, textiles and garments, furniture, and fabricated metal.
General Motors East Africa is placed in Nairobi (Kenya) and serves the East African region covering
Burundi, Ethiopia, Malawi, Mozambique, Rwanda, Somalia, Tanzania, Uganda, Zambia, and Zimbabwe.
The largest Sisal fiber manufacturer in Africa, the REA Vipingo Group is a well established agricultural business, headquartered in Nairobi, Kenya. The company is listed on the Nairobi Stock Exchange and owns and operates a flourishing sisal business, whose activities include:
Cultivation;
Manufacture;
Spinning and;
Sisal fiber and sisal products exports.
International Trade of Kenya.
Kenya exports textiles and garments to the United States under the African Growth and Opportunity Act (preferential international trade arrangement);
Most of the Kenyan exports go to the regional markets of the Common Market for Eastern and Southern Africa (COMESA), particularly to Uganda, Tanzania, and Rwanda;
Top Kenyan export market destinations: The European Union, Eastern Europe, the Middle East, America, Far East, Australia, and Southeast Asia;
The African region is the largest export market destination followed by Europe.
Kenyan Institutions and Agreements:
Kenya is a member of the UN and the World Trade Organization and has multiple regional trade agreements. As a result, Kenya has undertaken substantial trade liberalization initiatives within the World Trade Organization framework, including the Most-favoured-nation tariff reduction, quantitative restrictions
removal, business environment
optimization and Trade Facilitation at the regional level.
Kenya is signatory to the Cotonou Partnership Agreement in 2000, which provided for non-reciprocal trade between the EU and the Africa Caribbean and the Pacific countries.
The Cotonou Agreement has been succeeded by a World Trade Organization cooperative reciprocal trade arrangement, the Economic partnership agreements beginning January 2008.
Furthermore, Kenya is a member of the Common Market for Eastern and Southern Africa, the East Africa Community and the Intergovernmental Authority on Development.
Kenya is a beneficiary of trade preferential schemes, including the Generalized System of Preferences with
some industrialized countries, trade and Investment Framework Agreement and the African Growth and Opportunity Act (AGOA) with the U.S..
(c) EENI Global Business School (1995-2023)
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