Markets Actual Q1 Q2 Q3 Q4 2023
Stock Market (points) 1899.79 1868 1845 1821 1798 1753
Currency 113.45 114 114 114 114 114
Government Bond 10y (%) 12.83 13.11 13.41 13.7 14.01 14.64

Overview Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 1.74 1.7 2.1 1.8 1.8 1.6
GDP Annual Growth Rate (%) 9.90 6 6.2 5.8 6 5.1
Unemployment Rate (%) 6.60 7.2 7 7.4 7.2 6.8
Inflation Rate (%) 5.73 6 5.6 5.4 5.4 5
Interest Rate (%) 7.00 8 8 8 8 8
Balance of Trade (Million KES) -122954.00 -130500 -120000 -123200 -128000 -122500
Current Account (USD Million) -5795.50 -4700 -4400 -4700 -4600 -5700
Current Account to GDP (% of GDP) -4.80 -5.1 -5.1 -5.1 -5.1 -5
Government Debt to GDP (% of GDP) 65.60 72 72 72 72 74
Government Budget (% of GDP) -7.80 -5.6 -5.6 -5.6 -5.6 -5
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 30.00 30 30 30 30 30

GDP Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 1.74 1.7 2.1 1.8 1.8 1.6
GDP Annual Growth Rate (%) 9.90 6 6.2 5.8 6 5.1
GDP (USD Billion) 98.84 107 107 107 107 110
GDP Constant Prices (KES Million) 2323009.00 2445638 2520381 2457744 2462390 2587971
Gross Fixed Capital Formation (KES Million) 2079760.10 2204546 2208705 2200386 2204546 2316978
GDP per capita (USD) 1475.19 1550 1550 1550 1550 1600
GDP per capita PPP (USD) 4220.44 4320 4320 4320 4450 4450
GDP From Agriculture (Million KES) 377864.00 489993 508290 399780 400536 420963
GDP From Construction (Million KES) 142640.00 143095 140507 150913 151198 158910
GDP From Manufacturing (KES Million) 197772.00 211623 207891 209243 209638 220330
GDP From Mining (KES Million) 25700.00 28362 28294 27191 27242 28631
GDP From Public Administration (KES Million) 144124.00 141199 162855 152483 152771 160563
GDP From Services (KES Million) 60225.00 56495 60501 63718 63839 67094
GDP From Transport (KES Million) 232738.00 217630 235274 246237 246702 259284
GDP From Utilities (KES Million) 57786.00 59343 57333 61138 61253 64377

Labour Actual Q1 Q2 Q3 Q4 2023
Unemployment Rate (%) 6.60 7.2 7 7.4 7.2 6.8
Population (Million) 53.70 51.4 51.4 51.4 52.6 52.6
Minimum Wages (KES/Month) 13572.00 14900 14900 14900 14900 14900

Prices Actual Q1 Q2 Q3 Q4 2023
Inflation Rate (%) 5.73 6 5.6 5.4 5.4 5
Consumer Price Index CPI (points) 118.27 121 122 122 125 131
Food Inflation (%) 9.09 8 7 6 5.2 5
Producer Prices (points) 113.70 115 116 116 118 122
Producer Prices Change (%) 10.64 8.5 7 5.5 4 3
Inflation Rate Mom (%) 0.91 0.7 0.4 0.6 0.5 0.3

Money Actual Q1 Q2 Q3 Q4 2023
Interest Rate (%) 7.00 8 8 8 8 8
Interbank Rate (%) 4.73 5.73 5.73 5.73 5.73 5.73
Money Supply M1 (KES Billion) 1822.00 2300 2500 2700 2600 3000
Money Supply M2 (KES Billion) 3435.30 3850 4000 4300 4500 5300
Money Supply M3 (KES Million) 4234004.00 4225000 4250000 4280000 4260000 4050000
Foreign Exchange Reserves (USD Million) 14029.00 13600 14200 13800 14200 14500
Deposit Interest Rate (%) 6.97 7.97 7.97 7.97 7.97 7.97
Central Bank Balance Sheet (KES Million) 1421657.86 1380000 1420000 1405000 1425000 1300000

Trade Actual Q1 Q2 Q3 Q4 2023
Balance of Trade (Million KES) -122954.00 -130500 -120000 -123200 -128000 -122500
Current Account (USD Million) -5795.50 -4700 -4400 -4700 -4600 -5700
Current Account to GDP (% of GDP) -4.80 -5.1 -5.1 -5.1 -5.1 -5
Imports (million KES) 187863.00 183000 185000 190000 184000 167000
Exports (Million KES) 64909.00 63000 61800 62000 61500 58500
External Debt (KES Billion) 4015.30 4350 4600 4780 4800 5300
Capital Flows (USD Million) -5858.40 -3100 -3500 -4000 -3800 -4500
Remittances (USD Thousand) 337412.55 298000 325000 340000 355000 345000
Gold Reserves (Tonnes) 0.02 0 0 0 0 0
Foreign Direct Investment (KES Million) 55787.00 95000 95000 95000 95000 130000
Terms Of Trade (points) 76.30 78 78 78 87 76
Tourist Arrivals 72809.00 68500 69500 68700 72000 75000

Government Actual Q1 Q2 Q3 Q4 2023
Government Debt to GDP (% of GDP) 65.60 72 72 72 72 74
Government Budget (% of GDP) -7.80 -5.6 -5.6 -5.6 -5.6 -5
Government Budget Value (KES million) -931025.00 -300 120 -100 -690 -600
Government Spending (KES Million) 1214499.10 1287369 1289798 1284940 1287369 1353025
Government Revenues (KES Billion) 662.64 1080 1300 890 1100 1300
Military Expenditure (USD Million) 1097.00 940 940 940 960 960
Government Debt (KES Billion) 7712.39 8400 8600 8800 8800 9500
Fiscal Expenditure (KES Billion) 856.19 960 1400 1580 1700 2000

Taxes Actual Q1 Q2 Q3 Q4 2023
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 30.00 30 30 30 30 30
Sales Tax Rate (%) 16.00 14 14 14 14 14
Social Security Rate (%) 10.00 10 10 10 10 10
Social Security Rate For Companies (%) 5.00 5 5 5 5 5
Social Security Rate For Employees (%) 5.00 5 5 5 5 5

Business Actual Q1 Q2 Q3 Q4 2023
Manufacturing PMI (points) 53.70 52.3 53 54.2 53.5 55
Car Production 947.00 660 720 780 750 800
Car Registrations 23869.00 27600 28500 29100 29500 32000
Cement Production (Tonnes) 892975.00 795000 830000 850000 870000 840000
Electricity Production (Gigawatt-hour) 1052.44 1060 1045 1060 1100 1250

Consumer Actual Q1 Q2 Q3 Q4 2023
Consumer Spending (KES Million) 6406639.50 6791038 6803851 6778225 6791038 7137381
Bank Lending Rate (%) 12.12 13.12 13.12 13.12 13.12 13.12
Gasoline Prices (USD/Liter) 1.15 1.09 1.04 0.99 0.94 0.89
Disposable Personal Income (KES Billion) 9604.30 10181 10200 10161 10181 10700

Housing Actual Q1 Q2 Q3 Q4 2023
Building Permits (KSH Million) 14926.99 7000 5300 10200 12000 25000


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Kenya Forecast - was last updated on Monday, January 24, 2022.