Economy of Kenya

Economy Outlook

The economy is estimated to have expanded by 5.8 percent in the second quarter of 2014 compared to 7.2 percent recorded during a similar quarter of 2013. Overall inflation decreased to 6.6 percent in September 2014 from 8.4 and 7.7 percent in August and July 2014 respectively. The macroeconomic outlook remains favorable although risks remain.

As of 2018, Gross Domestic Product (GDP) stood at US89.6 billion with per capita income of 1,865 and GDP of 6%. Between 2013 and 2017, Kenya's economy recorded an average growth rate of 5.5%. In 2019, th economy grew at 5.4%. Kenya's economy is distinguished from most African countries by the fact that it os one of the most diversified and advanced.

In 2019 Kenya was the number 63 economy in the world in terms of GDP (current US$), the number 107 in total exports, the number 80 in total imports, the number 146 economy in terms of GDP per capita (current US$) and the number 96 most complex economy according to the Economic Complexity Index (ECI).

Key Exports Imports

Kenya is the 107th largest export economy in the world and the 76th most complex economy according to the Economic Complexity Index (ECI). In 2015, Kenya exported $5.25B and imported $17.6B, resulting in a negative trade balance of $12.3B. In 2018 the GDP of Kenya was $63.4B and its GDP per capita was $3.09k.

SOURCE:  The Observatory of Economic Complexity

Rank Exports Imports
1. Tea Petroleum products
2. Horticulture Industrial Machinery
3. Articles of Apparel and clothing accessories Road Motor Vehicles
4. Coffee, unroasted Iron and Steel
5. Iron and Steel Plastic in primary & non-primary forms
6. Tobacco and tobacco manufactures Animal/vegetable fats & Oils
7. Essential oils Crude Petroleum
8. Articles of plastics Medicinal and Pharmaceutical Products
9. Soda Ash Chemical Fertilizers
10. Cement

Source: Kenya National Bureau of Statistics