Kenya+Economics

__** Economics of Kenya **__ Subsistence agriculture and the barter of goods formed the foundation of the Kenyan economy in the early days of independence. Agricultural exports, mainly and coffee, brought in substantial income from foreign exchange. With democracy newly established, the Kenyan government began to promote a mixed economy composed of both privately-owned and state-run businesses. These attempts to diversify the economy meant increased stability, employment, and overall economic growth during the first ten years of independence. The oil crisis in the mid-70s coupled with periodic droughts and an increasing population have combined to threaten Kenya's economic health. Today the economy is greatly influenced by the development of "parastatals" or enterprises that the government either fully or partly owns. A substantial amount of foreign investment further supplements economic growth. Despite these steps forward, poverty and unemployment persist and the balance of trade remains unbalanced. The ever-increasing population rate further exacerbates Kenya's economic challenges.
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In 2006, Kenya exported some US$3.4 billion worth of goods led by tea, horticultural products, coffee, petroleum products, fish and cement. Topping the list of customers for Kenyan exports were Uganda (15.9% of total exports), the United Kingdom (10.3%), the United States (8.2%), Netherlands (7.9%), Tanzania (7.7%) and Pakistan (4.9%). Kenya imported about $6.8 billion in commodities ranging from machinery, transportation equipment, petroleum products, motor vehicles, iron, steel and plastics. Leading suppliers of Kenyan imports included the United Arab Emirates (11.8% of total imports), India (8.8%), China (8.3%), Saudi Arabia (8.3%), the United States (7%), South Africa (6.4%), the United Kingdom (5.3%) and Japan (4.7%).

Information found at __[|http://daniel-workman.suite101.com/top-kenyan-exports-imports-a40454#ixzz1tYmpalvv] __

__Currency and __ __Income__ Currency in Kenya is a Kenyan Shilling. The 1, 5, 10, 20 shillings pieces are commonly used but the 40 and 50 shillings are rarely used. For a conversion of Kenyan shillings to US dollars, go to [] This website includes an up to date currency machine that can convert American dollars into Kenyan shillings. The following example shows the conversion of $100 US dollars to Kenyan Shillings: 100.00 US Dollar = 8,451.92 Kenyan Shilling 100.00 Kenyan Shilling (KES) = 1.18316 US Dollar (USD)

Gross National Product:The total market value of all the goods and services produced by a nation during a specified period. GNP of Kenya: 18 million

The World Bank rates Kenya as the 17th poorest nation in the world (1996). However, it fares fairly well when compared to its immediate neighbors.


 * ~ Nation ||~ Per capita income (US$) ||
 * Rwanda || 80 ||
 * Ethiopia || 100 ||
 * Tanzania || 140 ||
 * Burundi || 160 ||
 * Uganda || 190 ||
 * ** Kenya ** || ** 250 ** ||
 * "Low income" || 380 ||
 * Sub Sahara || 460 ||
 * "Middle income" || 2,520 ||
 * World || 4,470 ||
 * "High income" || 23,420 ||