Economic Growth in Kenya
The Kenyan economy recorded an average growth rate of 4.5% in the decade to 2022, higher than the 3.0% average for Sub-Saharan Africa. In 2022, real GDP growth was 4.8%. For more GDP information, visit our dedicated page.
Kenya GDP Chart
Kenya GDP Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Economic Growth (GDP, ann. var. %) | 5.6 | 5.1 | -0.3 | 7.6 | 4.8 |
GDP (USD bn) | 92.2 | 100.4 | 100.6 | 109.7 | 114.3 |
GDP (KES bn) | 9,340 | 10,238 | 10,715 | 12,028 | 13,483 |
Economic Growth (Nominal GDP, ann. var. %) | 10.1 | 9.6 | 4.7 | 12.2 | 12.1 |
GDP records fastest expansion since Q1 2022 in Q3
According to a preliminary reading, GDP growth improved to 5.9% year on year in the third quarter, from 5.5% in the second quarter. Q3's reading marked the fastest increase since Q1 2022.
The manufacturing sector gained steam, growing 2.6% in Q3 (Q2: +1.4% yoy). Retail and wholesale trade sector growth also sped up to 4.8% in Q3, from the 4.2% expansion in the prior quarter, and Q3 growth in construction picked up to 3.8% (Q2: +2.6% yoy). However, transport growth waned to 2.8% (Q2: +3.0% yoy). In addition, the agricultural sector grew 6.7% annually in the third quarter, decelerating from the second quarter's 8.2% increase.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Kenyan GDP projections for the next ten years from a panel of 18 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Kenyan GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Kenyan GDP projections.
Want to get access to the full dataset of Kenyan GDP forecasts? Send an email to info@focus-economics.com.
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