The economy of Kenya advanced 5.9 percent year-on-year in the last quarter of 2018 compared to 6.4 percent in the previous period. The slowdown was driven by agriculture (3.9% vs 6.9% in Q3); manufacturing (3.1% vs 4.8%); real estate (1.6% vs 2.5%); wholesale and retail trade (12.1% vs 17.5%) and mining & quarrying (-2.9% vs 0.9%). In contrast, the biggest gains were recorded in accommodation & restaurants (21.3% vs 15.7%); information & communication (11.8% vs 9.8%); transportation & storage (9.3% vs 9%); electricity & water supply (8.7% vs 7.8%); construction (7.3% vs 7%) and finance & insurance (7% vs 5.4%). On a quarterly basis, the GDP grew 1.5 percent, compared to a 1.4 percent rise in Q3 2018. In 2018 as a whole, the GDP expanded a notable 6.3% from 4.9% in 2017, mainly boosted by agriculture (6.4%), manufacturing (4.2%) and transportation (8.8%). It marks the fastest growth since 2010 when the country advanced 8.4 percent. GDP Annual Growth Rate in Kenya averaged 5.45 percent from 2004 until 2018, reaching an all time high of 11.60 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.