Kenya GDP

Kenya

Kenya: GDP growth speeds up in Q2

September 30, 2015

In the second quarter of 2015, GDP increased 5.5% in annual terms, which marked an acceleration over Q1’s one-year low of 4.9%. Compared to the previous quarter, GDP increased a seasonally-adjusted 1.7% in Q2 (Q1: +0.6% quarter-on-quarter).

Q2’s pick-up was driven by faster growth among most of the 15 sub-components. Electricity and water supply sped up to a double-digit expansion and health services also grew notably. Other sectors that accelerated were agriculture, mining and quarrying, manufacturing, transport and real estate. In addition, the important tourism sector contracted significantly less than in the previous quarter. The construction and information and communication sectors figured among the fastest-expanding sub-components, even though they slowed slightly compared to Q1.

FocusEconomics Consensus Forecast panelists see GDP expanding 5.9% in 2015, which is unchanged from last month’s projection. For 2016, our panelist projects growth of 6.4%.


Author: Teresa Kersting, Economist

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Kenya GDP Q215

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


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