Kenya GDP Growth Slows to Over 3-Year Low

The economy of Kenya advanced by 4% over a year ago in Q3 2024, following a 4.6% rise in the previous three-month period, marking the slowest growth rate since Q1 2021.

This was due to a general slowdown across the various sectors of the economy.

Agriculture, contributing over a fifth of GDP, rose by 4.2%, decelerating from 4.8% in the previous period, driven by sugarcane and milk production, which offset a 12.2% decline in tea production.

Other economic activities that recorded slower growth were manufacturing, accommodation services, utilities, ICT, professional and administration services, financial and insurance services, and real estate.

Additionally, output contracted for mining & quarrying (-11.1% vs -2.7%) and construction (-2% vs -2.9%).