Intra-EAC trade up by 11.2pc in 2022 on DRC entry
East African Community (EAC) total trade increased by 13.4 per cent to $74.1 billion (Sh10.55 trillion) in 2022 from $65.3 billion (Sh9.29 trillion in 2021, data show.
Secretary General Peter Mathuki attributed the growth, partly to the admission of Democratic Republic of Congo (DRC) as a member of the regional bloc. This saw total intra-EAC trade grow by 11.2 per cent to $10.9 billion in 2022 from $9.8 billion in 2021.
Mathuki said in Arusha, EAC headquarters that percentage share of Intra-EAC trade to EAC total trade stood at 15 per cent in 2022.
Positive trend
According to him, in 2023 this has a positive trend with 16 per cent in January and 19 per cent in February recorded of total EAC trade.
Mathuki, however, said non-tariff barriers (NTBs) are the main factors impeding the growth of intra-EAC trade in the region. He said 26 NTBs having been resolved out of the 33 that had been reported as of June 2023.
“To facilitate free movement of goods, Partner States have effectively eliminated Non-Tariff Barriers as they arise and have cumulatively eliminated a significant number of 184 NTBs with only a few remain outstanding,” said Mathuki.
He said the implementation of the Single Customs Territory, which is a stop gap measure towards the realisation of a fully-fledged Custom Union in the EAC, has seen a reduction in the turn-around time from an average of 21 days to four days along the EAC corridors.