Quarterly Balance of Payments – Second Quarter 2023
About Report
Statistical Releases
Quarterly BOP Reports
September
2023
Overview
The current account deficit narrowed from KSh 206.2 billion in the second quarter of 2022 to KSh 138.7 billion in the second quarter of 2023 largely attributable to an improvement in the balance on merchandise trade from a deficit of KSh 365.8 billion in the second quarter of 2022 to a deficit of KSh 343.2 billion in the corresponding quarter of 2023. In addition, the surplus from exports of services rose by 25.6 per cent to KSh 35.4 billion in the second quarter of 2023. Inflows of diaspora remittances rose from KSh 120.3 billion in the second quarter of 2022 to KSh 140.5 billion, boosting the surplus in the secondary income account by 28.2 per cent to KSh 234.5 billion in the second quarter of 2023.