Kenya GDP Growth Rate 2005-2014 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Kenya expanded 4 percent in the second quarter of 2014 over the previous quarter. GDP Growth Rate in Kenya averaged 1.32 Percent from 2005 until 2014, reaching an all time high of 4 Percent in the second quarter of 2014 and a record low of -2.40 Percent in the first quarter of 2008. GDP Growth Rate in Kenya is reported by the Kenya National Bureau of Statistics.


Kenya GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.00 2.70 4.00 -2.40 2005 - 2014 Percent Quarterly
Kenya is one the most developed countries in East Africa. Agriculture and Fishery (including coffee and tea cultivation) is the largest sector of the economy and accounts for about 25 percent. The fastest growing segments are Wholesale and Retail Trade and Transport and Communication. Together they account for almost 27 percent of total output. Manufacturing is the third largest sector and represents 11 percent of the GDP. Other sectors include: Real Estate, Renting and Business Services and Financial Intermediation (10.8 percent), Education (6.7 percent), Other Services (7 percent), Construction (4 percent), Public Administration (3.7 percent), Electricity and Water (2.6 percent), Hotels and Restaurants (1.5 percent). Fishing and Mining and Quarrying account for the remaining 1 percent. This page provides - Kenya GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Kenya GDP Growth Rate - was last refreshed on Saturday, November 1, 2014.

Kenya Becomes a Middle Income Nation

In September of 2014, Kenya National Bureau of Statistics had revised the country’s GDP for 2013 from KES 3.8 trillion (USD 42.6 billion) to KES 4.76 trillion (USD 53.3 billion). As a result, the growth rate in 2013 was revised from 4.7 percent to 5.7 percent leading to a 25 percent increase in the value of Kenyan economy.

The rebasing exercise included a change in base year from 2001 to 2009 and a small adjustment in the structure of the economy. Agriculture, manufacturing and real estate were responsible for the greater share of the increase in output, but their proportions remained alike. Information and communication technology was added as a separate sector. In addition, structural changes in relative prices of various products and in consumption patterns were included.

On the positive side, as GDP per capita surpasses USD 1200, Kenya is now considered a middle income nation. The increase in GDP will also result in the fall of the government debt to GDP ratio and decrease country’s borrowing cost in the international markets. Yet, larger economy does not necessary mean that average Kenyan is wealthier. And with external aid likely to be reduced, poverty and social inequality may worsen.    

Kenya National Bureau of Statistics I Ricardo Martins I
9/30/2014 5:48:30 PM

Kenya GDP Last Previous Highest Lowest Unit
GDP 44.10 40.26 44.10 0.90 USD Billion [+]
GDP Growth Rate 4.00 2.70 4.00 -2.40 Percent [+]
GDP Annual Growth Rate 5.80 4.40 11.80 0.20 Percent [+]
GDP Constant Prices 1380243.00 1325451.00 1380243.00 241627.00 KES Million [+]
GDP per capita 606.21 594.83 606.21 287.97 USD [+]
Gross Fixed Capital Formation 171213.60 165761.40 508453.00 637.00 KES Million [+]
GDP per capita PPP 2192.59 2151.44 2192.59 1792.43 USD [+]