Kenya

Kenya Economic Outlook

Real GDP growth was a robust 5.8% in 2016, driven mainly by services (which accounted for 66% of growth) and industry (which accounted for 19% of growth). Agriculture accounted for 15% of growth, the lowest in recent years. Growth in services was driven by real estate (which grew 12%) and transport and storage (which grew 10%), and growth in industry was driven by construction (which grew 8.2%) and manufacturing (which grew 6.2%). Real GDP growth declined to an estimated 5% in 2017, due to subdued credit growth caused by caps on commercial banks’ lending rates, drought, and the prolonged political impasse over the presidential election. The half-year estimates show that the economy remained fairly resilient, growing 4.8%. Services accounted for 82% of that growth, and industry accounted for 17%; agriculture’s poor performance continued. The economy is projected to rebound to GDP growth of 5.6% in 2018 and 6.2% in 2019.

Key Facts

Flag:
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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Location

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Activity

Project Portfolio

Reference	Project	Status
P-KE-DA0-001	JOMO KENYATTA INTERNATIONAL AIRPORT AIRFIELD EXPANSION PROJECT Categories: Kenya, Transport	ApprovedAPVD
P-KE-HAB-013	KENYA COMMERCIAL BANK LIMITED Categories: Kenya, Economic & Financial Governance	ApprovedAPVD