Trade deficit widens on fuel, cooking oil imports surge
Nairobi, Jan. 25 -- Kenya's trade deficit in the 11 months to last November widened by 20.4 percent amid a surge in fuel and cooking oil imports and a weakening shilling.
Data from the Central Bank of Kenya (CBK) show the gap between imports and exports widened to Sh1.49 trillion from Sh1.23 trillion in the corresponding period in 2021.
The county's total import bill - both public and private sector - rose by 20 percent to Sh2.29 trillion in the country, led by goods such as fuel and lubricants, vehicles, industrial inputs and edible oils.
The higher cost of imported goods has pushed inflation to five-year highs, straining businesses and household budgets amid stagnant income.
Fuel and lubricant import costs rose by 78.6 percent to Sh...
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