The Kenyan economy expanded 6.3 percent year-on-year in the second quarter of 2018, following a 5.7 percent growth in the previous period and beating market expectations of 5.7 percent. It was the strongest growth rate since the last quarter of 2016. Main drivers of growth were agriculture (5.6 percent from 5.2 percent in Q1); manufacturing (3.1 percent from 2.3 percent); wholesale and retail trade (7.7 percent from 6.2 percent); transportation and storage (7.8 percent from 7.1 percent); accommodation and restaurants (15.7 percent from 13.5 percent); information and communication (12.6 percent from 12.0 percent); utilities (8.6 percent from 5.1 percent) and public administration (5.8 percent from 4.6 percent). On the quarterly basis, the economy grew 1.5 percent, slowing from a 1.9 percent expansion in the previous period. GDP Annual Growth Rate in Kenya averaged 5.46 percent from 2004 until 2018, reaching an all time high of 12.40 percent in the fourth quarter of 2010 and a record low of 0.20 percent in the fourth quarter of 2008.
GDP Annual Growth Rate in Kenya is expected to be 5.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Kenya to stand at 6.10 in 12 months time. In the long-term, the Kenya GDP Annual Growth Rate is projected to trend around 6.80 percent in 2020, according to our econometric models.