The country has a rapidly developing information technology and communications sector. In 2017, Kenya became the first country to sell government bonds via mobile phones.
Tourism is a key service sector, providing a significant portion of the country’s foreign exchange earnings. Transportation, healthcare, education, and financial services are also growing rapidly, making Kenya a regional leader in these areas.
The mining industry is underdeveloped and plays a minor role in the economy. Mining includes soda (in the Lake Magadi area), fluorite, table salt, gold, and rubies. The country has deposits of rare minerals such as titanium. Kenya could also become an oil and gas producer in the coming years, as new oil fields (with a potential of 750 million barrels) have been discovered in Turkana County (Northwest). As of 2020, exports amounted to $11.5 billion, imports – $20.4 billion.
Main export products: tea, coffee, flowers, fruits, vegetables, tobacco and other agricultural products, as well as petroleum products, fluorite, soda, cement.
Main buyers: Uganda – 11.1%, Pakistan – 8.5%, Great Britain – 7.8%, USA – 7.7%, Netherlands – 7.6%.
From economically developed countries, Kenya imports oil and petroleum products, industrial equipment, agricultural machinery and vehicles, ferrous metals, as well as synthetic resins, medicines.
Main suppliers: China – 22%, India – 11.4%, UAE – 5.6%, Japan – 5.3%, Saudi Arabia – 4.2%, Indonesia – 3.8%.