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What benefits does Kenya derive from international trade?

Describe the benefits that Kenya derives from international trade.

Answers

Maurice
(i) Kenya is able to import what she needs from other countries to satisfy her people.

(ii) Kenya gets a ready market for her surplus goods.

(iii) Kenya has foreign exchange which enables her to import goods from other countries.

(iv) The imported industrial inputs have led to the growth of manufacturing industries in the country.

(v) Demand for Kenya's exports has led to the expansion of the industries that produce those goods.

(vi) Transport and communication network in Kenya has been improved to facilitate the movement of trade goods.

(vii) Taxation of commodities and services rendered has generated revenue for the country.

(viii) Employment opportunities have been created in the manufacturing/ service industries that handle imports and exports.

(ix) Trade has enhanced co-operation between Kenya and the trading partners.

(x) Trade encourages specialization which leads to production of high quality goods in some industries in Kenya, thus enabling the country to earn higher income.

OR

-A country can buy/get goods and services that it does not produce
-A country is able to access a wide range of goods/services from other countries
-A country is able to dispose off its surplus goods/services thereby avoiding wastage
-It earns a country revenue through taxes and licences paid by importors and exporters in the country
-Countries are able to specilize in production of goods and services that they can produce cheaply
-Enables a country to earn foreign exchange whch can be used to pay for imports
-Creates employment for citizens in the country
-International peace and understanding is created among countries
-Encourage movement of factors of production such as capital and labour across borders
-During times of calamities/war a country may be able to get assistance from other countries
maurice.mutuku answered the question on June 24, 2017 at 09:37

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