The economy of Kenya advanced 6.0 percent year-on-year in the third quarter of 2018, compared to a downwardly revised 6.2 percent rise in the previous period. Output growth was boosted by the agricultural sector (5.2% vs 5.4%), thanks to favorable weather conditions which prompted a 12 percent surge in tea production; electricity and water supply (8.5% vs 8.6%), amid a substantial increase in generation of electricity using hydro and geothermal sources; and construction (6.8% vs 6.1%). Other significant positive contributions came from: accommodation & food services (16% vs 15.7%); information & communication (9.1% vs 12.6%); mining & quarrying (8.5% vs 3.5%); transport & storage (5.4% vs 7.8%); manufacturing (3.2% vs 3.1%) and financial services (2.6% vs 2.3%). On a quarterly basis, the GDP grew 0.9 percent, after a downwardly revised 1.3 percent increase in the second quarter of 2018. GDP Annual Growth Rate in Kenya averaged 5.47 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 4.50 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 5.30 in 12 months time. In the long-term, the Kenya GDP Annual Growth Rate is projected to trend around 6.00 percent in 2020, according to our econometric models.