Robust growth faces challenges from fiscal consolidation and high debt
C3
SENSITIVE RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in November 2024.
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Form of state | Presidential Republic |
Head of government |
William Ruto (President) |
Next elections |
2027 (presidential and legislative) |
Strengths & Weaknesses

- GDP growth is driven by a thriving services sector, especially ITC and finance, and agriculture
- Trade gateway to the East African market
- The administration has embarked on an ambitious program to accelerate foreign investment, rationalize infrastructure spending, optimize subsidies and redress structural imbalances

- Public debt surged from 40% to 68% of GDP in ten years, with half in foreign currency, while prohibitive financing conditions pose liquidity risks
- Elevated political risk due to increased poverty, social tensions, radicalization and security issues
- Vulnerable to external risks such as regional security and climate change
Economic Overview
Trade Structure by destination/origin
(% of total, 2023)
Trade Structure by product
(% of total, annual 2023)
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
Trade structure by destination/origin
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Uganda
12.4%
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1 |
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United States
8.4%
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2 |
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Netherlands
8.3%
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3 |
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Pakistan
7.2%
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4 |
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United Kingdom
6.5%
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5 |
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Trade structure by product
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Coffee, tea, cocoa, spices, and manufactures thereof
22.3%
|
1 |
19.3%
Petroleum, petroleum products and related materials
|
Crude animal and vegetable materials, n.e.s.
11.7%
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2 |
7.0%
Iron and steel
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Vegetables and fruits
9.1%
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3 |
6.0%
Cereals and cereal preparations
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Articles of apparel & clothing accessories
5.4%
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4 |
5.8%
Road vehicles
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Gold, non-monetary (excluding gold ores and concentrates)
5.2%
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5 |
5.0%
Fixed vegetable oils and fats, crude, refined or fractionated
|
Contacts
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