Kenya's economy shrank 1.1% year-on-year in the third quarter of 2020, following a downwardly revised 5.5% plunge in the previous period. It marks the first country's recession in nearly two decades, as the adverse effects of containment measures to curb COVID-19 infections continued to be felt. Accommodation and food service activity which includes the all-important tourism sector remained severely affected (-57.9% vs -83.2% in Q2), followed by education (-41.9% vs -56.2%) and professional, administrative activities (-12.3% vs -15.3%). Meanwhile, strong growth was recorded in agriculture (6.3% vs 7.3%); construction (16.2% vs 3.9%); mining & quarrying (18.2% vs 10%) and information & communication (7.3% vs 4.6%). source: Kenya National Bureau of Statistics
GDP Annual Growth Rate in Kenya averaged 5.18 percent from 2004 until 2020, reaching an all time high of 11.60 percent in the fourth quarter of 2010 and a record low of -5.50 percent in the second quarter of 2020. This page provides the latest reported value for - Kenya GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Kenya GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
GDP Annual Growth Rate in Kenya is expected to be 6.00 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 5.20 in 12 months time. In the long-term, the Kenya GDP Annual Growth Rate is projected to trend around 5.00 percent in 2022 and 6.00 percent in 2023, according to our econometric models.