Kenya is the largest economy in East Africa. It is also the economic, financial, and transport hub of the region and provides a doorway to a regional market of approximately 300 million consumers. The Kenyan economy is expected to grow by 5 percent in 2022 and to be one of the first African countries to make an economic recovery from COVID-19 according to the world bank. The country has a diverse and dynamic economy coupled with a vibrant innovative entrepreneurial culture that is backed by Kenya's resilient macroeconomic fundamentals.
Kenya and the United States have a strong economic partnership, as demonstrated by increased two-way trade over the years, currently totaling approximately $1 billion. Kenya is the United States’ second largest AGOA exporter (non-oil) and can play a larger role as a strategic trade partner. A concerted effort on increasing two-way trade between Kenya and the U.S. provides market access of mutual interest, benefiting traders, exporters, and businesses. Increased trade further supports Kenyan businesses through skill & technology transfer and expertise to participate in a global economy. This results in expansion of both U.S. and Kenyan businesses - creating jobs and enhancing Kenya’s pivotal role as a regional economic hub.
