kenya gdp growth 2020

Kenya's annual economic growth slowed to 4.9 percent in the first quarter of 2020 from 5.5 percent in the previous period. All rights reserved, Unlimited access tailored to your data needs. Kenya Economic Highlights. Other major sectors include: Real Estate (about 8 percent of total GDP), Wholesales and Retail Trade (around 7 percent), Transport and Storage (around 7 percent) , Education (about 7 percent), Financial and Insurance Activity (around 6 percent) and Construction (around 5 percent). Public Consumption accounted for 13.1 % in Dec 2019. The Gross Domestic Product (GDP) in Kenya contracted 1.9 % YoY in Sep 2020, following a negative growth of 5.6 % in the previous quarter. 2009=100) Includes 279 key indicators for Kenya, curated by CEIC analysts. Its GDP deflator (implicit price deflator) increased 9.4 % in Sep 2020. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. World Bank national accounts data, and OECD National Accounts data files. The real Gross Domestic Product (GDP) grew by 5.4 per cent in 2019 compared to a growth of 6.3 per cent in 2018. Download limits apply. RELATED; Kenya’s Economy to Grow at 6% – World Bank. In brief. Data. Its real GDP growth, estimated at 3.4 per cent for 2019, is projected to accelerate to 3.9 per cent in 2020 and to 4.1 per cent in 2021. Kenya gdp per capita for 2019 was $1,817, a 6.36% increase from 2018. Suitable for enterprise usage. The economic performance still reflected the impact of the coronavirus (COVID-19) outbreak. In 2020, GDP growth is expected to decelerate to 1.4% from 5.4% in 2019. Instant access to full history data in excel. Kenya gdp per capita for 2016 was $1,411, a 5.51% increase from 2015. Download historical data for 20 million indicators using your browser. It has successfully established a diverse and dynamic economy. GDP Per Capita in Kenya reached 2,007.8 USD in Dec 2019. As of 2020, Kenya had the third largest economy in Sub-Saharan Africa, coming behind Nigeria and South Africa. Kenya gdp per capita for 2018 was $1,708, a 8.63% increase from 2017. Kenya's gross domestic product (GDP) contracted by 1.1 percent in the third quarter of 2020. The Trading Economics Application Programming Interface (API) provides direct access to our data. Kenya gdp per capita for 2017 was $1,572, a 11.47% increase from 2016. In 2020, real GDP growth for Kenya was 1 %. IMPACT OF COVID-19: As of December 1, 2020, 1,474 deaths had been attributed to the pandemic in Kenya, and economic growth was forecast to decline to 1.0 percent for the year. Entry level access to the CEIC platform for individual users. Kenya gdp growth … Kenya's economic growth could decline to 2.5% in 2020, but may go lower to 1.8%, compared with 5.4% growth a year earlier, Finance Minister Ukur Yatani said on … Private Consumption accounted for 81.6 % in Dec 2019. That … Kenya serves as the point of entry to the East African market of 300 million people. November 17, 2020. Kenya’s economic growth slowed down to 4.9% in the first quarter of this year, from 5.5% growth posted in the first quarter of 2019. Politics will turn to the next election in 2022, which portends a wide-ranging reconfiguration of allegiances ahead of the poll. This is the lowest projection so far after the Central Bank of Kenya (CBK) in March cut its 2020 economic growth forecast from an initial estimate of 6.2 per cent to 3.4 per cent. The COVID-19 (coronavirus) global pandemic will have a large negative impact on the Kenyan economy. Real GDP Growth YoY data in Kenya is updated quarterly, available from Mar 2010 to Sep 2020, with an average rate of 5.5 %. Exports increased in July–August after shrinking in Q2, while the fall in imports softened in the same period. 2001=100) while figures for years 2009 to the current, are based on 2009 prices (i.e. The Kenya National Bureau of Statistics provides Real GDP in local currency, at 2009 prices.In the latest reports, Nominal GDP of Kenya reached 24.5 USD bn in Sep 2020. Payable monthly by credit card. The economy should have recovered in Q3, albeit frailly, after contracting for the first time in at least a decade in Q2 due to the pandemic. ADB projects that Africa’s economic outlook continues to brighten. 2005-2020 Data | 2021-2023 Forecast | Historical | Chart, source: Kenya National Bureau of Statistics. GDP Growth rate(%) 2020: 1.048: 2021: 4.668: 2022: 6.038: 2023: 5.797: … The real GDP growth in 2019 was about 5.4%, down from 6.3 percent in 2018. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Includes Real GDP Growth on 116 economies standardised by CEIC. However, this economic growth has not been inclusive, and as a result, many Kenyans continue to live in poverty. © 2021 CEIC Data, an ISI Emerging Markets Group Company. A single cookie will be used in your browser to remember your preference not to be tracked. Real GDP growth in 2019 was down to 5.6% from 6.3% in 2018, driven by a slowdown in … Major industries include agriculture, forestry, fishing, mining, manufacturing, energy, tourism and financial services. This website stores cookies on your computer. Kenya’s real GDP growth has averaged over 5% for the last decade. GDP Growth Rate in Kenya averaged 1.26 percent from 2005 until 2020, reaching an all time high of 4.24 percent in the third quarter of 2020 and a record low of -9.10 percent in the second quarter of 2020. Kenya gdp growth rate for 2019 was 5.37%, a 0.95% decline from 2018. To find out more about the cookies we use, see our Cookies Policy. Real GDP Growth YoY data in Kenya is updated quarterly, available from Mar 2010 to Sep 2020, with an average rate of 5.5 %. being affected by the novel coronavirus, Kenya’s economy had decelerated. Kenya is one the most developed countries in East Africa. GDP growth (annual %) - Kenya. In 2019, GDP growth for Kenya was 5.4 %. Instant access to full history data in excel. Kenya's economic growth will slow to 3% or less this year from an earlier forecast of about 6% due to the effects of the novel coronavirus, its finance minister said on Tuesday. However, this still points to weakened domestic demand. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2020, building on the lifetimes work of Angus Maddison. The World Bank estimates that GDP growth in 2019 was about 5.6 percent, down from 6.3 percent in 2018. Its Gross Savings Rate was measured at 5.4 % in Dec 2019. Direct access to our calendar releases and historical data. Growth is supported by agriculture, while weaknesses in services and industry have had a dampening effect. The Gross Domestic Product (GDP) in Kenya contracted 1.9 % YoY in Sep 2020, following a negative growth of 5.6 % in the previous quarter. That was the slowest pace of expansion since the second quarter of 2017, as the uncertainty created by the coronavirus pandemic affected severely the country's tourism sector as reflected in accommodation & food services (-9.3 percent vs 9 percent in Q4). The COVID-19 shock is expected to further reduce growth in 2020 with large impacts on services (transport, retail trade, tourism, events, leisure, etc. Find Out . CEIC calculates Real GDP Growth from quarterly Real GDP. The data reached an all-time high of 13.6 % in Mar 2011 and a record low of -5.6 % in Jun 2020. According to Kenya’s Statistical Institute, GDP shrank 1.1% year-on-year in the third quarter of 2020, moderating from Q2’s 5.5% contraction, which had been the first in at least a decade (previously reported: -5.7% year-on-year). If you decline, your information won’t be tracked when you visit this website. Aggregates are based on constant U.S. dollars. Though Kenya real GDP growth fluctuated substantially in recent years, it tended to increase through 2001 - 2020 period ending at 1 % in 2020. Full and unlimited access to CEIC data for multiple users. Domestic demand is subdued while external demand has neither helped nor hurt growth. Even before the COVID-19 pandemic, Kenya’s economy had begun to decelerate. Kenya - GDP GDP contraction softens notably in Q3. The COVID-19 (coronavirus) shock is expected to further reduce growth in 2020 with large impacts on … Though Kenya GDP growth fluctuated substantially in recent years, it tended to decrease through 1970 - 2019 period ending at 5.4 % in 2019. The Economy of Kenya is a market-based economy with a governmalized external trade system and a few state enterprises. Explore the most complete set of 6.6 million time series covering more than 200 economies, 20 industries and 18 macroeconomic sectors. Agriculture, Forestry and Fishing (including coffee and tea cultivation) is the largest sector of the economy and accounts for about 22 percent. source: Kenya National Bureau of Statistics. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Kenya GDP (Gross Domestic Product) was INT$230.83billion for 2020 in PPP terms. Annual GDP Growth (%) Kenya. The Gross Domestic Product (GDP) in Kenya expanded 4.20 percent in the third quarter of 2020 over the previous quarter. Posted on April 28, 2020 April 28, 2020 by Mwanyika Trizer The economic activity in the d omestic economy remained vibrant in 2019 although the performance was slower relative to 2018. Forecast impact of coronavirus on real GDP growth in Kenya 2020-2022 Published by Julia Faria, Apr 1, 2021 Kenya’s GDP was estimated to contract by one percent … Kenya Private Sector Shrinks the Most in 10 Months, Kenya Holds Key Interest Rate Steady at 7%, Kenya December Inflation Rate Hits 8-Month High, Fitch Revises Kenya Credit Outlook to Negative, Kenya Posts Widest Trade Gap in 19 Months, Kenya Producer Prices Fall the Most since 2016, Colombia Consumer Confidence Plunges to 2nd All-Time Low, FTSE 100 Posts Worst Session Since February, Spanish Stocks Fall from Near 15-Month High. Real GDP figures for years 2000 to 2008 are based on 2001 prices (as base year, i.e. Kenya Economic Outlook. Annual percentage growth rate of GDP at market prices based on constant local currency. ), industry (manufacturing and Remaining part of GDP is mostly allocated to Information and Communication; Public Administration and Defense; Human Health and Social Work Activities; Electricity Supply; Administrative and Support Service Activities. Consolidated Fiscal Balance: % of GDP (%), Forecast: Government Expenditure (KES bn), Central Government Expenditure: ytd (KES mn), Central Government Expenditure: ytd: Recurrent (KES mn), Central Government Expenditure: ytd: Development (KES mn), Central Government Revenue and Grants: ytd: Revenue (KES mn), Central Government Revenue and Grants: ytd: Revenue: Tax (KES mn), Central Government Revenue and Grants: ytd: Revenue: Tax: Excise Duty (KES mn), Central Government Revenue and Grants: ytd: Revenue: Tax: VAT (KES mn), Central Government Surplus or Deficit (KES bn), Exports: Medicinal and Pharmaceutical Product (USD th), Imports: Medicinal and Pharmaceutical Product (USD th), Foreign Portfolio Investment: Equity Securities (USD mn), Foreign Portfolio Investment: % of GDP (%), Foreign Portfolio Investment: Debt Securities (USD mn), Forecast: Current Account Balance (USD bn), Balance of Payment: Current Account (USD mn), BoP: Reserves and Related Items: Reserve Assets (KES mn), BoP: Current Account: Goods: Imports (USD mn), BoP: Current Account: Services: Debit (USD mn), BoP: Current Account: Services: Credit (USD mn), BoP: Financial Account: Other Investment: Liabilities n.i.e (USD mn), BoP: Current Account: Primary Income: Debit (USD mn), BoP: Current Account: Primary Income: Credit (USD mn), BoP: Financial Account: Direct Investment: Liabilities n.i.e (USD mn), BoP: Capital Account: Credit n.i.e (USD mn), BoP: Current Account: Goods: Exports (USD mn), BoP: Current Account: Secondary Income: Credit n.i.e (USD mn), BoP: Current Account: Secondary Income: Debit (USD mn), BoP: Financial Account: Direct Investment: Assets (USD mn), BoP: Financial Account: Portfolio Investment: Assets (USD mn), BoP: Financial Account: Portfolio Investment: Liabilities n.i.e (USD mn), BoP: Financial Account: Financial Derivatives: Net (USD mn), BoP: Financial Account: Other Investment: Assets (USD mn), BoP: Financial Account: Direct Investment: Liabilities (KES mn), Foreign Exchange Reserves: Months of Import (NA), Gross Loans and Advances: Total NPLs and Advances (KES bn), Gross Domestic Product: Annual Growth Rate, Gross Domestic Product: by Expenditure: Quarterly, SNA 1993: GDP: by Expenditure: Chain Linked 2001 Price, SNA 1993: GDP: by Industry: Chain Linked 2001 Price: Annual, SNA 2008: GDP: by Expenditure: Chain Linked 2009 Price, SNA 2008: GDP: by Expenditure: Current Price: Seasonally Adjusted, SNA 2008: GDP: by Industry: Chain Linked 2009 Price: Annual, SNA 2008: GDP: by Industry: Current Price: Annual, SNA 2008: GDP: Gross Fixed Capital Formation: Current Price, SNA 2008: GDP: Output: Intermediate Consumption: Current Price, SNA 2008: Gross National Disposable Income, Gross Domestic Product: by Expenditure: Annual, Gross Domestic Product: Deflator and Volume Index: Annual, Gross Domestic Product: Purchasing Power Parity, SNA 1993: GDP: by Industry: Chain Linked 2001 Price, SNA 1993: GDP: by Industry: Chain Linked 2001 Price: Seasonally Adjusted, SNA 2008: GDP: by Expenditure: Current Price, SNA 2008: GDP: by Industry: Chain Linked 2009 Price, SNA 2008: GDP: by Industry: Current Price, SNA 2008: GDP: Compensation of Employees: Current Price, SNA 2008: GDP: Gross Fixed Capital Formation: Chain Linked 2009 Price, SNA 2008: GDP: Gross Operating Surplus or Mixed Income: Current Price, SNA 2008: GDP: Output: Gross Value Added: Current Price. Manufacturing is the second largest sector and represents around 11 percent of the GDP. We use this information in order to improve and customize your browsing experience and for analytics and metrics about our visitors both on this website and other media. Kenya’s economy has been hurt by the COVID–19 pandemic. The COVID-19 shock has hit Kenya’s economy hard through supply and demand shocks on both the external and domestic fronts and caused activity to slow sharply in 2020 (real gross domestic product is estimated to have contracted by 0.3% in 2020). Abstract. For Nominal GDP contributions, Investment accounted for 17.4 % in Dec 2019. Since 2014, Kenya has been ranked as a lower middle income country because its per capita GDP crossed a World Bank threshold. With a gross domestic profit (GDP) of $95 billion, Kenya recently attained lower-middle income status. Even before being affected by the novel coronavirus, Kenya's economy had decelerated. There is no data available for your selected dates. Kenya from The World Bank: Data. Annual percentage growth rate of GDP at market prices based on constant local currency. Available via annual subscription to one or more of CEIC’s global and premium databases. These cookies are used to collect information about how you interact with our website and allow us to remember you. Violence is not expected, and the outlook generally points to an acceleration of economic growth over the medium-term from a slump in 2020 … SOURCE: WORLD ECONOMIC OUTLOOK, IMF, APRIL 2020. Page last updated on January 27, 2020 Economy - overview: Kenya is the economic, financial, and transport hub of East Africa. The bank said Kenya's economic growth could rebound to 5.2% in 2021 if its virus containment measures ease by the second half of this year. The lender now sees gross domestic product shrinking by 0.3% in 2020, compared with an April projection of 1% growth, according to a regional economic outlook update published Monday. CBK warns that the adverse effects of COVID-19 on the economy will be more pronounced in Q2, 2020. Ceic ’ s real GDP growth is supported by agriculture, while weaknesses in services industry... $ 1,708, a 0.95 % decline from 2018 was measured at 5.4 %, 0.95... Not to be tracked when you visit this website 2020, Kenya recently attained lower-middle status! Or more of CEIC ’ s economy to Grow at 6 % – Bank! By the novel coronavirus, Kenya ’ s economy to Grow at 6 % – World Bank estimates GDP... Complete set of 6.6 million time series covering more than 200 economies, 20 industries and 18 macroeconomic.! Platform for individual users the current, are based on constant local currency third quarter of 2020, growth! Includes real GDP growth rate of GDP at market prices based on constant currency! 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