The exports of Food, Beverages, and Tobacco Products from Tanzania to Kenya have exhibited fluctuations between 2013 and 2023. The value of exports stood at $109.24 million in 2023. The early years showed significant volatility, with sharp increases in 2014 and 2016, followed by declines in 2015 and 2017. After 2018, the growth trends became steadier, with a 2.71% year-on-year increase noted in 2023. The average annual growth rate (CAGR) over the past five years is a moderate 4.58%.
Looking ahead, the forecast from 2024 to 2028 suggests a more subdued growth rate, with a CAGR of 2.03% and an overall five-year growth rate of 10.58%. This indicates more stable, yet slower, expansion in the near future.
Future trends to watch for include: - The potential impacts of trade policies between Tanzania and Kenya.- Macroeconomic conditions affecting demand for imported food and beverage products in Kenya.- Technological advancements in agriculture and food processing in Tanzania, which could enhance export capacities.