GDP in Kenya

Kenya GDP | Economic News & Forecasts

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

2012  2013  2014  2015  2016  
Economic Growth (GDP, annual variation in %)4.5  5.9  5.4  5.7  5.8  

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Kenya GDP Chart

Kenya GDP
Note: GDP, annual variation in %.
Source: Kenya National Bureau of Statistics

Kenya Facts

Bond Yield13.200.0 %Oct 16
Exchange Rate103.30.0 %Oct 16
Stock Market0.20.0 %Oct 16

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