Kenya's economy plunged 5.7% year-on-year in the second quarter of 2020, after growing 4.9% in the previous period. It was the first economic contraction since at least the first quarter of 2004, amid the Covid-19 pandemic and related containment measures that included restrictions on movements and closure of some businesses and learning institutions. The accommodation & food services sector was the most affected (-83.3% vs -9.3% in Q1), followed by education (-56.2% vs 5.3%); professional, administrative and support services (-15.7% vs 4.4%); wholesale and retail trade (-6.9% vs 6.4%) and manufacturing (-3.9% vs 2.9%). On a seasonally quarterly basis, the GDP contracted 9.1%, following a downwardly revised 0.8% growth in the previous period.
GDP Annual Growth Rate in Kenya averaged 5.44 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 0.20 percent in the fourth quarter of 2008. 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 October of 2020. source: Kenya National Bureau of Statistics
GDP Annual Growth Rate in Kenya is expected to be 3.00 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 4.50 in 12 months time. In the long-term, the Kenya GDP Annual Growth Rate is projected to trend around 4.30 percent in 2021 and 6.00 percent in 2022, according to our econometric models.