GDP in Kenya

Kenya GDP (USD bn) | Economic News & Forecasts

Kenya - GDP (billions of 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 (USD bn) Data

2015   2016   2017   2018   2019  
GDP (USD bn)63.3  69.5  78.7  88.0  95.3  

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Kenya Facts

Value Change Date
Bond Yield12.200.0 %Dec 31
Exchange Rate101.40.05 %Jan 01
Stock Market0.40.0 %Jan 07

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