NAIROBI, Oct. 19 (Xinhua) -- Kenya has projected exports for 2022 to jump 15 percent as compared to the 738 billion shillings (6.08 billion U.S. dollars) recorded in 2021.
Wilfred Marube, chief executive officer of state-owned Kenya Export Promotion and Branding Agency (KEPROBA), said Wednesday in Nairobi, Kenya's capital that the increase will be driven by sales into new African countries due to operationalization of the African Continental Free Trade Area (AfCFTA) as well as emerging markets such as South Korea.
"Our marketing efforts are paying off because Kenyan products are penetrating new markets," Marube said during the launch of Kenya Association of Manufacturers Vision 20 by 30.
Kenya's key exports include horticulture, tea, coffee, titanium ores, textile and apparel, refined petroleum, iron, plastics and paper products.
Marube observed that Kenya is keen to expand its export revenues by increasing the number of export destinations as well as its product base.
He revealed that 15 countries account for about 70 percent of the exports, while five products account for about half of export revenues.
According to Marube, the bulk of agricultural produce is sold to overseas markets in an unprocessed or semi-processed form, denying the country additional revenues. ■