Kenya GDP Growth Quickens to 1-Year High

Kenya’s economy expanded by 5.1% year-on-year in Q4 2024, the fastest pace in a year, following an upwardly revised 4.2% growth in the previous quarter.

Agriculture, which accounts for over one-fifth of GDP, grew by 4.3%, slightly up from 4% previously.

Noteworthy gains were seen in accommodation and food services (+10.9%), public administration (+9.2%), wholesale and retail trade (+6.4%), transportation and storage (+5.6%), information and communication (+5.6%), and finance and insurance (+6%).On a seasonally adjusted quarterly basis, the GDP rose by 1.8% in Q4, the most in eight quarters, after an upwardly revised 1.2% increase in the prior quarter.

The 2024 GDP growth came in at 4.7%, the slowest pace since 2020, down from a revised 5.7% in 2023, amid disruptions from political unrest and flood-related damage to both infrastructure and agriculture.