Kenya's earnings from horticulture rose 9 percent in the first six months of 2023 on increased export volumes, according to the country's central bank.
Kenya earned 69.48 billion shillings (about 483.7 million U.S. dollars) after exporting 320,338 tonnes of produce during the six months, up from 443 million dollars from 271,154 tonnes in a similar period in 2022, said the Central Bank of Kenya (CBK) in a new economic report released Friday in Nairobi, the capital of Kenya.
The surge in export earnings happened after a rebound in the second quarter, since in the first quarter, the value of horticulture exports remained flat at 226 million dollars due to low prices in the global market.
Kenya's main horticulture products are cut flowers, fruits, and vegetables. Earnings from the sector are on a recovery path after declining 24 percent in 2022 to 1.05 billion dollars, hurt by low revenues from flowers due to stifled demand in destination markets on elevated inflation.
Read more at news.cn