Can someone please help me know why Kenya is currently in a trade deficit? I don't know which imports exceed the value of exports.
Thanks
Kenya mainly exports raw materials and agricultural products, but imports the much more expensive manufactured items.
http://www.tradingeconomics.com/kenya/balance-of-trade
http://www.bloomberg.com/news/2012-09-24/kenya-s-trade-gap-widens-as-exports-decline-import-bill-rises.html
http://en.wikipedia.org/wiki/Economy_of_Kenya
So how would i explain this deficit? Just say what the imports are?
To find out why Kenya is currently in a trade deficit and which imports exceed the value of exports, we can refer to the trade data of the country. The trade data provides information about the value of imports and exports, allowing us to compare the two and determine the trade balance.
Here's a step-by-step process to find this information:
1. Access the official trade data: Visit the website of Kenya's National Bureau of Statistics (https://www.knbs.or.ke/) or the Ministry of Industry, Trade, and Cooperatives (http://www.industrialization.go.ke/) to obtain the most up-to-date official trade data.
2. Locate the trade balance figures: Look for a section or report that provides information on trade balance or international trade. This may be categorized by year, quarter, or month.
3. Analyze the trade balance: Find the trade deficit figure, which represents the amount by which the value of imports exceeds the value of exports. It will usually be presented as a negative value.
4. Identify the imports and exports: Look for breakdowns of imports and exports in the trade data. They might be categorized by product, sector, or country.
5. Compare import and export values: Analyze the figures to identify which imports exceed the value of exports. Look for categories or specific goods that contribute significantly to the trade deficit.
6. Consider factors influencing the trade deficit: Evaluate the reasons behind the trade deficit. Some common factors include high dependency on imported goods, limited export diversity, fluctuating exchange rates, trade policies, and global market conditions.
By following these steps and referring to the official trade data sources, you can gain a better understanding of why Kenya is in a trade deficit and which imports exceed the value of exports.