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Kenya Economic Outlook

Real GDP grew an estimated 5.9% in 2018, from 4.9% in 2017, supported by good weather, eased political uncertainties, improved business confidence, and strong private consumption. On the supply side, services accounted for 52.5% of the growth, agriculture for 23.7%, and industry for 23.8%. On the demand side, private consumption was the key driver of growth. The public debt–to-GDP ratio increased considerably over the past five years to 57% at the end of June 2018. Half of public debt is external. The share of loans from nonconcessional sources has increased, partly because Kenya issued a $2 billion Eurobond in February 2018. An October 2018 International Monetary Fund debt sustainability analysis elevated the country’s risk of debt stress to moderate.

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Key Facts

Capital: Nairobi
Area: 580,000 sq km
Total Population 2017: 48.5 Million...
Urban Population 2017: 73.50%
Female Population 2017: 49.70%
GDP: US$ 77.3 Billion
GNI Per Capita 2015: US$ 1,340
Inflation Rate: 5.50%
Crude Birth Rate (per 1000): 33.00%
Human Development Index (rank / 188): 146
Human Development Index (scale 0 to 1): 0.555
Membership Date: 10/09/1964
Cumulative Approvals (1967-2016): UA 2.6 Billion

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African Housing Dynamics Lessons from the Kenyan Market


East Africa Regional Hub (RDGE)

African Development Bank Group
Khushee Tower
Longonot  Road, Upper Hill
Nairobi, Kenya
Phone: (254) 20 2712925/ (254) 20 2712926/ (254) 20 2712928
Fax: (254) 20 2712938

Mr. Gabriel Negatu, Director General

Kenya Regional Hub

Ms. Nnenna Nwabufo, Deputy Director General