Kenya GDP Q2 2016


Kenyan economy speeds up in Q2

In the second quarter of 2016, GDP increased 6.2% in annual terms, accelerating from Q1’s 5.9% annual expansion and marking the fasted pace of growth in nearly four years. Compared to the previous quarter, GDP grew a seasonally-adjusted 1.8% in Q2 (Q1: +0.2% quarter-on-quarter).

Looking at the details, Q2’s expansion was supported by broad-based increases in all sectors of the economy. The main anchors of growth were the key agricultural sector—which picked up from 5.1% growth in Q1 to a 5.5% increase in Q2—forestry and fishing, transportation and storage, real estate, and wholesale and retail trade. The sectors that accelerated most, logging double-digit expansions, were mining and quarrying, accommodation and restaurants, and electricity and water supply. In addition, solid growth rates of more than 8.0% were recorded for construction, transport, information and communication, and real estate.

FocusEconomics Consensus Forecast panelists see GDP expanding 6.0% in 2016, which is up 0.1 percentage points from last month’s projection. For 2017, our panelists project growth of 5.9%.

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Kenya GDP Chart

Kenya GDP Q216

Note: Year-on-year changes of GDP in %.
Source: Kenya National Bureau of Statistics (KNBS) and FocusEconomics Consensus Forecast.

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