GDP per capita in Kenya
Kenya - GDP per capita (U.S. Dollars)
Economy expands at slower rate in Q2 2022
Economic growth continued to lose steam in the second quarter of 2022, with GDP expanding a milder 5.2% year on year. The result came in below the 6.8% increase recorded in the prior quarter and was the softest since Q1 2021. Underlying momentum also moderated in Q2, as GDP clocked a 0.8% expansion in sequential terms, marginally down from the first quarter’s 1.0% seasonally adjusted quarter-on-quarter growth.
The slowdown in annual growth was partially due to an unfavorable base effect, as the economy grew 11.0% in Q2 2021. The mining and quarrying sector posted 33.5% growth in April–June, which was a marked slowdown from the 77.7% expansion recorded in the prior three months. Growth in the accommodation and restaurants sector also more than halved in the second quarter, to 22.0% (Q1: +56.2% yoy). Construction sector growth also moderated during the quarter (Q2: +5.8% yoy; Q1: +6.4% yoy), as did the transport and storage sector (Q2: +7.1% yoy; Q1: +7.8% yoy). Manufacturing activity growth softened to 3.6% in Q2, down marginally from the prior quarter’s 3.7% increase. Meanwhile, the all-important agricultural sector contracted at a sharper 2.2% annually in Q2 (Q1: -0.7% yoy), chiefly due to a severe drought.
FocusEconomics Consensus Forecast panelists see GDP growth at 5.5% in 2022, which is unchanged from last month’s estimate. Panelists forecast GDP growth to come in at 4.8% 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: PMI eases in October; conditions still improve
November 3, 2022
The Purchasing Managers’ Index (PMI)—produced by Stanbic Bank and S&P Global—moderated to 50.2 in October, down from September’s seven-month high of 51.7.
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Kenya: Inflation jumps to over five-year high in October
October 31, 2022
Inflation came in at 9.6% in October, which was up from September’s 9.2%.
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Kenya: Economy expands at slower rate in Q2 2022
October 11, 2022
Economic growth continued to lose steam in the second quarter of 2022, with GDP expanding a milder 5.2% year on year.
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Kenya: Inflation soars to over five-year high in September
October 5, 2022
Inflation came in at 9.2% in September, up from August’s 8.5%.
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Kenya: PMI hits highest reading since February in September
October 5, 2022
The Purchasing Managers’ Index (PMI)—produced by Stanbic Bank and S&P Global—soared to 51.7 in September, up from August's 44.2.
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