During the second quarter of 2019, net inflows of international trade in services decreased marginally to a surplus of KSh 38.3 billion. However, diaspora remittances increased by 8.1 per cent to KSh 80.8 billion boosting the secondary income account to a surplus of KSh 149.2 billion in the second quarter of 2019.
The financial account recorded a surplus of KSh 283.7 billion in the quarter under review from a surplus of KSh 34.3 billion in the corresponding quarter of 2018 following the issuance of the third sovereign bond in the review period. Consequently, the stock of gross official reserves stood at KSh 987.8 billion as at end of June 2019 from KSh 904.8 billion as at end of June 2018, an increase of 9.2 per cent. The overall balance of payments position improved to a surplus of KSh 94.5 billion in the second quarter of 2019 from a deficit of KSh 33.6 billion in the corresponding quarter of 2018.