Current Account in Kenya
Kenya - Current Account
The economy is likely performing well compared to its regional peers so far in 2022, amid healthy credit growth and strong activity in the construction, IT, retail, transport and manufacturing sectors. That said, growth is likely easing from 2021. The war in Ukraine, global supply constraints and the domestic drought have spurred both consumer and producer price pressures in recent months. Survey data suggests this is eating into demand somewhat, with the private-sector PMI averaging lower in the first five months of 2022 relative to last year. Moreover, the drought is hurting agricultural output and has raised the amount of people facing food insecurity to 3.5 million. In other news, in June the government reportedly backed out of a USD 1 billion Eurobond sale due to elevated bond yields, and is also considering rolling back fuel subsidies to limit the gaping budget deficit.Kenya - Current Account Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -6.8 | -4.9 | -6.2 | -4.9 | -5.0 |
Kenya Current Account Chart
Source: Central Bank of Kenya
Kenya Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 12.20 | 0.0 % | Dec 31 |
| Exchange Rate | 101.4 | 0.05 % | Jan 01 |
| Stock Market | 0.4 | 0.0 % | Jan 07 |
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Economic News
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Kenya: Inflation comes in at an over five-year high in July
July 29, 2022
Consumer prices increased a seasonally-adjusted 0.67% in July over the previous month, below June's 0.89% increase.
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Kenya: Central Bank surprises markets and keeps rate unchanged in July
July 27, 2022
At its 27 July meeting, the Monetary Policy Committee (MPC) of the Central Bank of Kenya kept its Central Bank Rate on hold at 7.50%, after May’s 50 basis points hike.
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Kenya: PMI falls deeper into contractionary territory in June
July 5, 2022
The S&P Global Purchasing Managers’ Index (PMI) declined to 46.8 in June, below May’s 48.2 and marking a 14-month low.
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Kenya: Economy expands at softer pace in Q1 2022
July 1, 2022
The economy lost more steam in the first quarter of 2022, with GDP expanding 6.8% year on year.
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Kenya: Inflation comes in at highest level since August 2017 in June
June 30, 2022
Consumer prices rose a seasonally-adjusted 0.89% in June over the previous month, picking up from May's 0.78% rise.
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