Kenya's annual economic growth slowed to 4.9 percent in the first quarter of 2020 from 5.5 percent in the previous period. That was the slowest pace of expansion since the second quarter of 2017, as the uncertainty created by the coronavirus pandemic affected severely the country's tourism sector as reflected in accommodation & food services (-9.3 percent vs 9 percent in Q4). Meantime, slower growth was mainly observed in transportation & storage (6.2 percent vs 9.2 percent); finance & insurance (6 percent vs 6.6 percent) and real estate activities (4.3 percent vs 5.1 percent). In contrast, solid rises were recorded in information & communication (9.8 percent vs 9.4 percent); mining & quarrying (9.5 percent vs 0.3 percent) and agriculture (4.9 percent vs 4 percent). On a seasonally quarterly basis, the economy advanced 1.1 percent, following a downwardly revised 1.4 percent growth in the previous period.
GDP Annual Growth Rate in Kenya averaged 5.44 percent from 2004 until 2020, reaching an all time high of 11.60 percent in the fourth quarter of 2010 and a record low of 0.20 percent in the fourth quarter of 2008. This page provides the latest reported value for - Kenya GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Kenya GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Kenya National Bureau of Statistics
GDP Annual Growth Rate in Kenya is expected to be 1.70 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 4.30 in 12 months time. In the long-term, the Kenya GDP Annual Growth Rate is projected to trend around 4.50 percent in 2021 and 5.30 percent in 2022, according to our econometric models.