According to a report by the Standard Chartered Bank, textiles and minerals could spur Kenya’s exports in the next decade.

Titled Future of Trade 2030: Trends and Markets to Watch, the report identifies major corridors and five trends shaping the future of global trade. The research also finds that 10 percent of global companies currently are or plan to manufacture in Kenya within the next five to 10 years.

Kenya’s exports are projected to grow annually at more than 7 percent to cross $10.2 billion by 2030, with Pakistan, Uganda and the US the fastest growing export corridors for Nairobi.

Kenya’s business with Pakistan is set to grow to 10.7 percent of total exports by 2030, followed by Uganda at 11 percent and the US accounting for 9 percent of exports.

During the past 24 years, Kenya’s exports to Uganda have increased at an average annual rate of 4.85 percent, with data indicating that the country exported goods valued at more than $635 million to Uganda in 2021.

The US is the largest export destination of Kenya’s apparel, accounting for over 90 percent of garment exports every year. Of the total $667 million US imports from Kenya, nearly 70 percent ($453 million) was apparel, making the sector the single largest stakeholder in the proposed Free Trade Agreement.