Kenya’s import orientation has revealed key flaws. One clear problem is having a chronic and substantial current account deficit.
Secondly the government has to be hawk-eyed about the shilling depreciation to keep import bills manageable. Third, the country is unable to generate forex to pay foreign-denominated debt.
Finally, Kenya’s import economy exacerbates the country’s unemployment problem.
How so? As an import economy we are essentially exporting jobs by hiring people from other countries to make goods for us to buy. Read more. Source | Business Daily