Kenya’s government has disclosed a raft of export development and promotion initiatives that it hopes can nearly double the country’s apparel exports to us over subsequent 5 years.
Apparel and textiles already account for the lion’s share of Kenya’s exports to the US, creating up eighty-six of the entire in 2016.
still envisages it’ll be the most export class over the 5 years from 2018-2023 – popping out plans to grow shipments to the US from US$340.7m in 2016 to US$651.4m in 2023: a mean annual rate of nine.70%.
Key to the present growth potential is that the 10-year extension of the African Growth Opportunity Act (AGOA) to 2025, that provides nontaxable access to the US marketplace for 6,421 product tariff lines – most importantly textiles and apparel – from eligible sub-Saharan African countries together with the Republic of Kenya. Indeed, in line with the new strategic sourcing tool from the team behind just-style; US apparel imports from the AGOA region totalled US$1,024m, of which around US$1,001m (or 97%) claimed AGOA advantages.