Import Globals

Kenya is the 96th largest trading partner with $1.1 billion in total goods trade during 2019. As per Kenya Import Data , the import value of food and beverages to Kenya amounted to 16.2 billion Kenyan shillings approximately 146 million US dollars. This value increased from approximately 15.3 billion Kenyan shillings approximately 138 million US dollars in July. The major imports of the country are refined petroleum, cars, packaged medicaments, wheat, and hot rolled iron importing mostly from China, United Arab Emirates, India, Saudi Arabia and Japan. Total imports averaged 161 billion shillings a month which is the level of imports stood in January 2020, before outbreak of Covid-19 in Kenya in March. Also, the monthly exports average 447 million dollars, a level the imports stood before the pandemic. The imports of Kenya fell to a low of 991 million dollars amid tough restriction of international trade and movement of people. Most of the imports of the country came from China, followe...

China is no longer the go to destination for any businesses all across the globe because of the rising costs. Vietnam has arisen as a serious competitor. As per the recent trends the number of orders shifting from China to Vietnam has seen a significant rise. After the signing of Vietnam’s CPTPP ratification and the signing of the EU- Vietnam FTA, the country is steadily becoming more open to international trade and investment. Located in the strategic position for foreign companies with operations throughout South East Asia, Vietnam is an ideal export hub to reach other ASEAN markets. Compared with the other developing markets in the region, Vietnam is emerging as the leaders in low cost manufacturing and sourcing with the manufacturing sector of the country accounting for 25% of Vietnam’s total GDP in 2015. The labour costs in Vietnam are 50% of those in China and around 40% of those reported in Thailand and the Philippines. The annual workforce of Vietnam is growing and the Vietname...

The ongoing war between Russia and Ukraine has its ripples on Indian Export and Import. The war has caused the Indian rupee to depreciate further against the US dollar. Exporters will benefit but the import bill will increase. Russian President Vladimir Putin announced a special military action in eastern Ukraine. The Indian market crashed by 4.7% that day. At the inter-bank foreign exchange market, the rupee opened at 75.02 against the US dollar but later dropped to a low of 75.75. This was mainly due to the outflow of funds from emerging markets due to geopolitical uncertainties. The foreign reserves have fallen over 2 to 3 percent from its peak. Falling value of rupee is a boon for export companies. As on December 2021, India’s exports to Russia stood at Rs. 27.114 billion as per India Export Data . This was the highest export trade amount in 30 years. As the news of the war spread, the Indian rupee continued to fall further due to panic selling by investors. Depreciation of the rup...