The transport services exports in Kenya have experienced fluctuations over the past decade. From 2013 to 2023, the value declined generally, starting at 54.04 in 2013 and dropping to 41.31 in 2023. The year-on-year variations show substantial declines during certain periods, such as a -12.52% drop in 2016 and -20.28% in 2020, likely due to global disruptions. However, counter periods of growth occurred, like the 11.26% increase in 2019. The compound annual growth rate (CAGR) reflects an overall downward trend, with the most recent five-year CAGR standing at -0.49% by 2023.
Looking ahead, the forecast for 2024 onwards predicts stabilization with the value of transport services exports anticipated to remain steady at 41.31 up to 2028. This suggests negligible growth, reflected by a forecasted five-year CAGR of 0%.
Future trends to watch for include:
• Potential recovery fueled by infrastructural investments.
• Impact of global trade dynamics on export demand.
• Developments in regional trade agreements and their effect on transport services.
• Technological advancements within the transport sector.
