Import-export deficit narrows to 11-year low

Workers prepare a consignment of avocados for export at the Eldoret International Airport. FILE PHOTO | NMG

The current account deficit, mainly the gap between imports and exports, fell to the lowest level in 11 years due to rising exports and remittances.

The Central Bank of Kenya (CBK) said in its latest weekly bulletin that other factors pushing the deficit down to 4.9 percent of the gross domestic product (GDP) were an increase in tourism receipts and a decline in food imports.

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