Kenya GDP Q3 2015


Kenya: GDP expands at faster rate in Q3; healthy expansion in most sectors

December 30, 2015

In the third quarter of 2015, GDP increased 5.8% in annual terms, which marked an acceleration over Q2’s 5.6% and was the highest reading since Q2 2014. Compared to the previous quarter, GDP increased a seasonally-adjusted 1.4% in Q3 (Q2: +2.2% quarter-on-quarter).

Q3’s pick-up was driven by faster growth among 11 of the 16 sub-components. Double-digit expansions were tallied by construction, mining and quarrying, electricity and water supply as well as financial services. Other sectors that accelerated were agriculture, wholesale and retail sales, transport, information and communication, real estate and education. By contrast, public administration, professional services and healthcare slowed compared to Q2. Noteworthy is that the accommodation and restaurants sector remained the only sector in decline, recording the seventh consecutive drop, with the pace of contraction accelerating moderately compared to Q2.

FocusEconomics Consensus Forecast panelists see GDP expanding 6.0% in 2016, which is unchanged from last month’s projection. For 2017, our panelist projects growth of 6.3%.

Author: Teresa Kersting, Economist

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Kenya GDP Chart

Kenya GDP Q315

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

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