GDP in Kenya
Kenya - GDP
Economy decelerates in Q1
In the first quarter of 2017, GDP expanded 4.7% in annual terms, down from Q4’s 6.1% growth. In seasonally-adjusted quarter-on-quarter terms, GDP expanded 1.8%, up from Q4’s 1.3%.
Q1’s figure was underpinned by a stellar performance in the construction sector, which grew 8.4% year-on-year. The sector was supported by heavy infrastructural development, in particular the construction of the Standard Gauge Railway (SGR) between Mombasa and Nairobi. In contrast, the agricultural sector contracted 1.1% year-on-year in Q1, as the severe drought which has hit the country in recent months affected the production of several staple food crops. The manufacturing sector chalked up a meager 2.9% year-on-year expansion in Q1, due to depressed agro-processing activities.
Looking ahead, growth should pick up as weather conditions return to normal and the agricultural sector recovers; in this sense, recent rains in the country bode well for food production in the months ahead. In addition, fixed investment should bounce back after shrinking last year, although the recent slowdown in private sector credit growth could hamper the extent of the rebound.
FocusEconomics Consensus Forecast panelists see GDP expanding 5.0% in 2017 and 5.5% in 2018.
Kenya - GDP Data
|Economic Growth (GDP, annual variation in %)||4.5||5.9||5.4||5.7||5.8|
5 years of economic forecasts for more than 30 economic indicators.
Kenya GDP Chart
Source: Kenya National Bureau of Statistics
|Bond Yield||12.95||-0.38 %||Aug 17|
|Exchange Rate||103.5||-0.14 %||Aug 17|
|Stock Market||0.2||0.0 %||Aug 17|
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August 3, 2017
The composite Purchasing Managers’ Index (PMI), produced by IHS Markit and CfC Stanbic Bank, rose to 48.1 in July from a survey-record low of 47.3 in June.
July 31, 2017
Consumer prices fell 1.0% from the previous month in July, following a 1.2% decline in June.
July 17, 2017
On 17 July, the Central Bank of Kenya (CBK) held its main policy rate at 10.00%, a decision which was in line with market expectations.
July 17, 2017
In the first quarter of 2017, GDP expanded 4.7% in annual terms, down from Q4’s 6.1% growth.
July 5, 2017
The composite Purchasing Managers’ Index (PMI), produced by IHS Markit and CfC Stanbic Bank, fell to a record low of 47.3 in June, down from 49.9 in May.