Kenya bitumen prices
Kenya has about tons of bitumen imports; therefore, Kenya bitumen prices has high importance in the world’s economy. In the first place, let’s discuss Kenya’s economic situation. We start our article with a question in the following.
Does Kenya have a good economy?
To answer this question, we should refer to the fact that Kenya is one of the fast-growing countries in Africa. Although two-thirds of Kenyans do not have access to basic financial services such as bank accounts, United States Agency for International Development supports economic growth by boosting trade, supporting small businesses, promoting the development of main energy and agriculture quarters.
What issues Kenya have?
Ignorantly, most people think Kenya is a third world country, but it is not true. In fact, it is a developing country. However, the country has some issues that need careful management to be solved. Environmental issues in Kenya mainly are deforestation, soil erosion, desertification, water deficit, low water quality, flooding, and domestic and industrial pollution. To categorize, Kenya’s main problems are as below.
- Water sources.
- Animal poaching.
- Air pollution.
More about Kenya’s economy
Kenya has a miscellaneous economic system which includes a variety of private freedom, combined with centralized economic devising and administration control. Kenya is a member of the Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC). Kenya’s main exports are horticultural and agricultural products. In 2005, the total value of these commodities was $1,150 million, about 10 times the value of Kenya’s third most major commodity, coffee. Kenya’s other notable exports are petroleum products such as bitumen penetration grades, MC grades, RC grades, and SC grades, Emulsions, etc. The leading imports are also cutback bitumen types, chemicals, manufactured goods, machinery, and transportation equipment. Moreover, Africa is Kenya’s largest export market, followed by the European Union. That’s the reason for the importance of Kenya Bitumen Prices in the global bitumen market.
What countries care a lot about the Kenya bitumen prices?
The major destinations for bitumen exports are Uganda, Tanzania, the United Kingdom, and the Netherlands. Major suppliers are China, India, United Arab Emirates, Saudi Arabia, and South Africa. Kenya’s main exports to the United States are garments traded under the terms of the African Growth and Opportunity Act (AGOA). Despite AGOA, Kenya’s clothes industry is struggling to hold its market against Asian rivals. Many of Kenya’s problems relating to the export of goods are caused by the fact that Kenya’s exports are inexpensive items that do not bring large amounts of funds into the country.