GDP per capita in Kenya
Kenya - GDP per capita (U.S. Dollars)
Economy expands at softer pace in Q1 2022
The economy lost more steam in the first quarter of 2022, with GDP expanding 6.8% year on year. The result came below the 7.4% increase logged in the prior quarter, and was the softest expansion in a year. Moreover, underlying momentum also moderated in the first three months of the year, as GDP expanded a milder 1.2% in sequential terms (Q4 2021: +3.0% s.a. qoq).
The annual slowdown was largely due to growth in the accommodation and restaurants sector more than halving in the first quarter (Q1: +56.2% yoy; Q4: +118.6% yoy). Moreover, mining and quarrying posted 22.1% annual growth in the first three months of the year, which came in below the prior period’s 34.5% expansion. Additionally, manufacturing activity softened in the quarter (Q1: +3.7% yoy; Q4 +.4.9% yoy). These decelerations more than offset brisker growth in the construction sector (Q1: +6.4% yoy; Q4: +6.0% yoy) and in the transport and storage sector (Q1: +8.1% yoy; Q4: +6.5% yoy). Lastly, the all-important agricultural sector declined a softer pace of 0.7% in annual terms in Q1 (Q4 2021: -1.2% yoy).
FocusEconomics Consensus Forecast panelists see GDP growth at 5.2% in 2022, which is down 0.1 percentage points from last month’s estimate. Panelists forecast GDP growth to come in at 5.1% in 2023.
Kenya - GDP per capita (USD) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| GDP per capita (USD) | 1,433 | 1,528 | 1,685 | 1,832 | 1,931 |
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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