Markets Actual Q1 Q2 Q3 Q4 2022
Currency 109.55 110 110 110 111 111
Stock Market (points) 1941.39 1903 1870 1838 1806 1743
Government Bond 10y (%) 12.25 12.46 12.68 12.9 13.13 13.58

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 4.20 0.9 1.3 1 1.3 1.1
GDP Annual Growth Rate (%) -1.10 3.4 4.3 5.4 6.5 6.2
Unemployment Rate (%) 7.20 12 13.6 12.9 12.3 9.8
Inflation Rate (%) 5.78 5.4 5.1 5.2 5.2 5.3
Interest Rate (%) 7.00 6.75 6.75 6.5 6.5 6.25
Balance of Trade (Million KES) -103947.00 -73000 -103700 -92000 -86500 -86500
Current Account (USD Million) -4744.00 -3800 -4000 -5000 -4200 -4400
Current Account to GDP (%) -4.60 -4.6 -4.6 -4.6 -4.6 -4.3
Government Debt to GDP (%) 62.40 69 69 69 69 73
Government Budget (% of GDP) -5.60 -7.3 -7.3 -7.3 -7.3 -6.4
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 2022
GDP Growth Rate (%) 4.20 0.9 1.3 1 1.3 1.1
GDP Annual Growth Rate (%) -1.10 3.4 4.3 5.4 6.5 6.2
GDP (USD Billion) 95.50 85 85 85 85 97
GDP Constant Prices (KES Million) 1226025.00 1396812 1249179 1262354 1275528 1354611
Gross Fixed Capital Formation (KES Million) 900252.20 930861 938963 948866 958769 1018212
GDP per capita (USD) 1237.50 1230 1230 1230 1230 1350
GDP per capita PPP (USD) 4329.90 4320 4320 4320 4320 4450
GDP From Agriculture (Million KES) 241335.00 363465 321627 325019 328411 348772
GDP From Construction (Million KES) 83989.00 70238 76022 76824 77626 82439
GDP From Manufacturing (KES Million) 116390.00 130000 123874 125180 126487 134329
GDP From Mining (KES Million) 15023.00 14902 13818 13963 14109 14984
GDP From Public Administration (KES Million) 52254.00 51650 61821 62473 63125 67038
GDP From Services (KES Million) 24418.00 28391 24425 24683 24940 26486
GDP From Transport (KES Million) 96705.00 87087 80586 81436 82286 87388
GDP From Utilities (KES Million) 34659.00 36082 37631 38028 38425 40808

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 7.20 12 13.6 12.9 12.3 9.8
Population (Million) 47.60 50.35 50.35 50.35 51.4 52.6
Minimum Wages (KES/Month) 13572.00 13572 15000 15000 15000 15000

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 5.78 5.4 5.1 5.2 5.2 5.3
Consumer Price Index CPI (points) 113.36 113 114 114 118 124
Food Inflation (%) 6.93 4.3 5 6 5.5 5.7
Producer Prices (points) 102.07 102 100 104 104 106
Producer Prices Change (%) -0.19 0.7 -1.3 1.8 1.4 2.1
Inflation Rate Mom (%) 0.70 1 0.8 -0.1 0.8 1

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 7.00 6.75 6.75 6.5 6.5 6.25
Interbank Rate (%) 5.29 2.69 2.44 2.44 3.82 2.19
Foreign Exchange Reserves (USD Million) 12991.90 12400 13200 13180 12750 13300
Deposit Interest Rate (%) 7.50 7.5 7.25 7.25 8.2 7

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (Million KES) -103947.00 -73000 -103700 -92000 -86500 -86500
Current Account (USD Million) -4744.00 -3800 -4000 -5000 -4200 -4400
Current Account to GDP (%) -4.60 -4.6 -4.6 -4.6 -4.6 -4.3
Imports (million KES) 161455.69 153000 147000 150000 152000 160000
Exports (Million KES) 57509.00 49300 55000 60000 54000 57000
External Debt (KES Billion) 3793.29 3880 4200 4350 4200 4300
Capital Flows (USD Million) -2756.40 -4700 -5200 -6500 -6100 -7200
Remittances (USD Thousand) 299579.26 255000 280000 265000 270000 275000
Gold Reserves (Tonnes) 0.00 0 0 0 0 0
Terms Of Trade (points) 68.00 72.1 72.1 72.1 73.4 73.4
Tourist Arrivals 47406.00 45000 90000 125000 118000 145000
Foreign Direct Investment (KES Million) 135897.00 120000 120000 120000 120000 140000

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 62.40 69 69 69 69 73
Government Budget (% of GDP) -5.60 -7.3 -7.3 -7.3 -7.3 -6.4
Government Budget Value (KES million) -478312.20 -460 -1350 -1800 -465 -465
Government Spending (KES Million) 734790.80 759774 766387 774470 782552 831070
Government Revenues (KES Billion) 629.98 1200 1500 1100 1250 1500
Military Expenditure (USD Million) 1023.00 940 940 940 940 960
Government Debt (KES Billion) 7254.46 6650 6500 6700 6700 6580
Fiscal Expenditure (KES Billion) 1190.96 3000 2850 2940 3000 3200

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 30.00 30 30 30 30 30
Sales Tax Rate (%) 14.00 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 2022
Manufacturing PMI (points) 50.90 49.5 51 53 52 54
Electricity Production (Gigawatt-hour) 1012.24 985 950 970 965 1050
Car Production 798.00 700 620 650 630 700
Car Registrations 35180.00 23400 24800 26000 25800 27500
Cement Production (Tonnes) 716853.00 550000 525000 530000 545000 550000

Consumer Actual Q1 Q2 Q3 Q4 2022
Bank Lending Rate (%) 11.99 11.75 11.5 11.5 13.05 11.25
Gasoline Prices (USD/Liter) 0.99 0.94 0.89 0.85 0.81 0.77
Disposable Personal Income (KES Billion) 8591.30 8883 8961 9055 9150 9717

Housing Actual Q1 Q2 Q3 Q4 2022
Building Permits (KSH Million) 16918.34 18000 25000 23000 23000 35000


This page has economic forecasts for Kenya including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Kenya economy.