Kenya's current account deficit closed 2020 at its lowest level in 11 years, helped by a drop in the import bill and resilient exports as well as diaspora remittance inflows despite the Covid pandemic crisis.
The Central Bank of Kenya (CBK) said the current account deficit—which measures the net of hard currency inflows of goods, services and investments versus external payments—declined to 4.8 percent of gross domesti product (GDP) in the 12-months to December 2020, well below the earlier 5.1 percent projections.
