Kenya GDP Growth Rate

The Gross Domestic Product (GDP) in Kenya expanded 1.60 percent in the third quarter of 2013 over the previous quarter. GDP Growth Rate in Kenya is reported by the Kenya National Bureau of Statistics. From 2005 until 2013, Kenya GDP Growth Rate averaged 1.2 Percent reaching an all time high of 3.5 Percent in March of 2010 and a record low of -2.4 Percent in March of 2008. 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. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1.60 0.80 3.50 -2.40 1.03 | 2014/06 2005 - 2013 Percent Quarterly

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Kenya GDP Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP per capita 592.92 2012-12-31 584.04 592.92 287.97 607.85 2014-06-30 USD [+]
GDP per capita PPP 1517.33 2012-12-31 1494.59 1517.33 1268.19 1555.53 2014-06-30 USD [+]
GDP 37.23 2012-12-31 33.62 37.23 0.90 42.24 2014-06-30 USD Billion [+]
GDP Constant Prices 423209.00 2013-08-15 416663.00 423209.00 241627.00 434680.42 2014-06-30 KES Million [+]
GDP Growth Rate 1.60 2013-09-30 0.80 3.50 -2.40 1.03 2014-06-30 Percent [+]
GDP Annual Growth Rate 4.40 2013-09-30 4.30 8.40 0.20 4.29 2014-06-30 Percent [+]
Gross Fixed Capital Formation 171213.60 2012-06-30 165761.40 508453.00 637.00 182118.00 2014-06-30 KES Million [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


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In the last month of 2013, Kenya’s trade deficit increased to KES 78.67 billion, from KES 71.7 billion in the previous month and KES 76.9 billion a year earlier.
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At is January 14th meeting, Central Bank of Kenya decided to leave the benchmark interest rate on hold at 8.5 percent, as the current monetary policy stance is considered to deliver the desired objective of price stability. The Committee also said there was room for commercial banks to reduce the lending rates.
Kenya GDP Expands 4.4% YoY in Q3  
In the third quarter of 2013, Kenyan economy advanced 4.4 percent over the previous year, slightly up from 4.3 percent in the June quarter, but down from 4.5 percent a year ago, mainly due to a slowdown in the agriculture and forestry sector.
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In September of 2013, Kenyan trade deficit widened 8.2 percent over a year earlier to 71 billion KES, as lower prices of tea and coffee heat exports. On a monthly basis, the trade deficit decreased 9.9 percent, due to a fall in imports.
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